Esquire Financing Review: Business Loan For SME
In today’s rapidly evolving business landscape, securing adequate funding is essential for the growth and success of any business. Entrepreneurs often encounter challenges in obtaining the necessary capital to launch new ventures or expand existing ones.
However, with the emergence of innovative financial institutions and lending platforms, businesses now have access to alternative financing options that cater specifically to their needs. Case in point would be Esquire Financing.
Customized financing solutions
Esquire Financing understands that each business is unique and requires a personalized approach to financing. Businesses often require working capital for daily operations, equipment financing for expansion, or to bridge loans for short-term financial requirements.
A non-bank institution like Esquire Financing can offer a more customized-approach to funding that aligns with the specific goals and challenges faced by individual businesses.
Streamlined application process
Leveraging cutting-edge technology and digital platforms, Esquire has simplified the loan application and approval process, saving entrepreneurs valuable time and effort. Applicants can easily submit their loan requests by completing a secure online form. Here’s how to go about applying for business financing:
Step 1: Fill out the online application form.
Complete this initial form. You’ll also need to prepare essential business information, such as financial statements, revenue projections, and the purpose of the loan.
Step 2: Gather required documents.
Prepare the necessary documents as you may be asked for any of the following:
- Valid identification documents (e.g., government-issued IDs of business owners/partners/directors)
- Business or Mayor’s permits and licenses
- Financial statements (e.g., income statements, balance sheets, cash flow statements)
- Bank statements (usually for the past six months)
- Proof of ownership or lease agreement for business premises
- List of clients/customers and suppliers
- Other relevant documents related to the purpose of the loan (e.g., equipment quotations, project contracts).
*Please note that the specific documentation requirements may vary depending on the type of loan and the borrower’s unique circumstances.
Step 3: Application review and approval.
Esquire Financing’s dedicated team will review your application promptly. They will assess your creditworthiness based on various factors, including credit metrics, financial statements, and industry trends.
You may be contacted for additional information or clarification during the review process.
Step 4: Loan disbursement.
If your application is approved, Esquire Financing will proceed with the loan disbursement.
The funds will be made available according to the agreed terms and conditions.
Holistic credit assessment
Esquire Financing follows a comprehensive credit evaluation process to assess the creditworthiness of loan applicants. While they consider traditional credit metrics and financial statements, they understand that these may not fully reflect the potential of a promising business.
As a result, Esquire adopts a holistic approach, taking into account factors such as industry trends, market potential, and the viability of the business plan. By considering a broader range of criteria, they aim to provide financing options to deserving businesses that may have been overlooked by traditional lending institutions.
On that note, here are the eligibility criteria:
- Registered business entity in the Philippines
- Minimum operational history (typically at least one year)
- Satisfactory credit standing and repayment capacity
- Compliance with legal and regulatory requirements
*Specific requirements may vary depending on the loan product and amount requested
Esquire offers collateral-free financing, eliminating the need for borrowers to provide collateral such as real estate or equipment.
This feature is particularly advantageous for businesses that may not have substantial assets to pledge as collateral.
All that said, Esquire Financing is considered a forward-thinking financial institution with a mission to help the growth and success of SMEs.
Whether businesses are looking to start a new venture, expand their operations, or address short-term financial needs, Esquire can definitely serve as a strategic partner on that front.