FundSpace teams up with RFC to reach underserved MSMEs

Mar 20, 2024 #FundSpace

FundSpace, a loan aggregator under Globe’s 917Ventures, has partnered with Radiowealth Financing Company (RFC), a seasoned non-bank financial institution, to offer new financing options including chattel mortgage and real estate loans to small and medium-sized enterprises (MSMEs).

In photo (L-R): Donald Francis Chiong, RFC President and CEO and Martin Luchanco, FundSpace’s Entrepreneur in Residence, seal the deal on their partnership to bring financing services to underserved MSMEs.

The joint effort aims to expand access to financial services for underserved local businesses, creating new opportunities for entrepreneurs to secure financing.

Through the partnership, SMEs can now obtain loans offered by RFC through FundSpace, ranging from PHP300,000 to PHP5,000,000, with terms from 3 to 36 months and interest rates of 1.92% for Chattel Mortgages and 2.25% for Real Estate Mortgages. Auto and Medical loans are also available.

FundSpace’s platform streamlines the loan application procedure, enabling applicants to conveniently choose their preferred loan and financial partner, for a seamless application experience.

The collaboration comes at a pivotal moment for RFC as it celebrates its 60th anniversary and seeks to expand its offerings in the Philippine financing market.

“Despite our long history, we have only reached a small segment of the market in need of small loan financing, such as tricycle drivers, sari-sari stores, and market vendors. This year, we are aggressively pursuing that,” said Donald Francis Chiong, President and CEO of RFC. “We are very honored and privileged to partner with such a distinguished company [Globe Group], which has an excellent reputation for its nationwide reach.”

RFC specializes in micro-financing, serving the underserved market—a segment often overlooked by the financial world, especially banks. Its goal is to connect with and create more opportunities for underprivileged Filipinos.

Meanwhile, FundSpace works alongside reputable financing institutions such as RFC to present a diverse range of financing options tailored to meet the requirements of various companies, furthering its goal of making capital more accessible to SMEs.

“Our partnership with RFC represents a significant step for FundSpace and the Filipino SME sector. By adding RFC’s loan products to our platform, we aim to boost more business’ growth and foster further financial inclusion,” said Martin Luchangco, FundSpace Entrepreneur-in-Residence.

Eligible applicants, including Filipino citizens above 21 years with at least one year of business operation, can visit https://fundspace.ph/ to begin the application process with RFC.