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Philippine financial technology firm First Circle has obtained a P300 million sustainability linked credit facility from Taiwan based Cathay United Bank to expand credit access for underserved small and medium enterprises (SME) at home.
First Circle says the facility was finalized in April, strengthening its funding base as demand for accessible SME financing continues to increase in the Philippines.
Since launching operations, the company has focused on providing digital first financing solutions designed to simplify and speed up business lending for entrepreneurs who may face challenges accessing traditional bank credit.
Beyond working capital and business loans, First Circle has also been expanding financing solutions that support SMEs pursuing renewable energy adoption and sustainability initiatives, including its “Solar Financing” product.
