Globe unit expands loan offerings to SMEs

A UNIT of Globe Telecom, Inc.’s 917Ventures has partnered with Esquire Financing, Inc. to expand its loan offerings for small- and medium-sized enterprises (SMEs).

In a statement on Sunday, the listed telecommunications company said FundSpace has partnered with Esquire Financing for a loan offering of up to P100 million.

FundSpace is the loan aggregator under 917Ventures, the corporate venture builder of Globe.

Martin Luchangco, entrepreneur-in-residence at 917Ventures, said that with its newest partner, FundSpace “continues to offer additional and flexible loan options, empowering SMEs in the Philippines to realize their full potential.”

“Our platform’s competitive interest rates and efficient application process ensure local businesses have a more accessible avenue to secure funding,” he said.

Through the partnership, Esquire Financing will integrate its platform into FundSpace, allowing the latter to extend “substantial loanable amounts available for local SMEs, ranging from P50,000 up to as big as P100 million.”

FundSpace will also provide customers with an accessible and easy-to-navigate financial resource platform, said Alisa Bermudez, venture builder at 917Ventures.

The company is a loan platform that offers financing options for SMEs by collaborating with financing institutions.

Globe, through 917Ventures, is set to build generative artificial intelligence products for its telco-to-techno ambition, which will allow the company to expand and explore the progress of technologies such as venturing into financial technology. — Ashley Erika O. Jose

Neil Banzuelo

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