by Maureen Ledesma
Here’s a compiled reference for those wishing to access business loans or trade financing in the Philippines.
What are the limitations?
As you can see, options are quite numbered, especially for new companies with little to no resources. More so, exporting is not supported for companies 0-3 years old as credit facilities for international trade would often require collateral and a banking relationship.
But fear not, for all hope is not lost.
With trade credit insurance, forward thinking lenders have approached our platform and are opening their doors to transactional lending (receivables finance or supplies finance) for domestic and international trade, even for new companies.
We are excited to share more about transactional lending with some of the lenders in the Philippines in our coming blog entries. At this point, perhaps your education about the different financing options is the most important thing we can share. We want to help you grow and expand. And know that if you are qualified, there are better options than paying 10% per month on your loans.