- Interest rate (p.a.)
20.88% - 20.88%
- Loan Tenure
0.5 - 0.5 years
- Approval Duration
Up to 5 business days
- Min. monthly income
What's so great about First Circle Business Loan?
- Up to ₱2,500,000 loan amount for first time borrowers.
- Approval duration of up to 5 business days only
- Interest rates range starts for as low as 1.74%
- Get interest rebates for early repayments!
|Min. financing amount||₱0|
|Max.financing amount|| ₱2,500,000.00|
|Min. loan tenure||15 days|
|Max. loan tenure||6 months|
|Interest rate||1.74%-2.5% per month|
|Approval duration||Up to 5 business days|
Fees & Charges
|One time set up|
|Disbursement & misc. fee||N/A|
|Early settlement||Early repayments are well accepted and incentivized with interest rebates!|
|Late payment charges||2% weekly|
|Age requirement||Age 21 - 65|
|Min. salary requirement||₱0 gross per month|
|Guarantor / Collateral requirement||No|
|Need to open linked banked account?||No|
|Other details||Payment thru cheques or PDCs|
Product Review by
First Circle SME Business Loan FAQ
Prepare your business for anything with fast and accessible funds from First Circle. Focused on providing supply chain financing to strong businesses, they have been in the industry since 2016 and gained the support of the government after being the first Fintech company licensed by the Securities and Exchange Commission (SEC) in the Philippines. With the purpose of providing financial solutions to help empower Small and Medium Enterprises, they have been named as an official finance partner of the Department of Trade and Industry (DTI). With a First Circle Business Loan, you can avail short-term funding without the need for collateral. There are no hidden fees, application is simple and efficiently done online, and best of all, processing is fast, with funds straight to your account within 5 days. You can choose between Purchase Order or Invoice Financing Loan where you will just need to show these documents to be eligible for a loan. For first time borrowers, you can receive up to ₱2,500,000 loan amount. Loan tenure ranges from 15 days up to 6 months with interest rate starting at 1.74% per month and a fixed processing fee of 1.99% of the total loan amount.
Advantages Of Applying With First Circle Business Loan:
- No collateral or minimum salary requirement.
- Fast approval and disbursement within 5 days.
- Low interest rate: starts at 1.74% per month.
- High loanable amount up to ₱2,500,000.
If you want to avail, take a look at the rest of the details below for more information regarding the product.
How much can I borrow?
With a First Circle Business Loan, first time borrowers may get approved as much as ₱2,500,000 subject to approval.
What are the First Circle Business Loan Requirements?
An applicant must fulfill First Circle's eligibility criteria for a loan consequently, after filling out an application form, the following documents are necessary:
- 1 official ID
- Proof of Billing
- DTI or SEC Certificate
- BIR Certificate
- Purchase Order OR invoice
*Additional documents may be required during credit evaluation.
How does the First Circle Business Loan Calculator work?
The First Circle Business Loan calculator computes the estimated cost of borrowing and amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
Is First Circle Business Loan the right one for me?
With the aim of increasing the business potential of existing companies, First Circle offers short-term business loans for SMEs that receive large purchase orders or have pending invoices. This is ideal for business owners who are in need of additional capital in order to serve the requirements of a growing business and address temporary gaps in their cash flow. By doing so, companies can continue to take on larger orders, offer extended credit to preferred clients, and eventually serve more clients, preventing the cost of lost opportunity. Having a fast application and disbursement process of 5 business days, assuming timely submission of documents allows for continuity in operations, maintaining a healthy cash flow for your business. Take this opportunity and leverage First Circle’s financial services as your company’s competitive advantage.
Don’t wait till the last minute when addressing potential funding issues for your business. If you find this product lacking, there are still other options you can consider. View the following alternatives below to find what fits your requirement:Esquire Business Loan
RFC Business Loan
Zenith Business Loan
For non-business owners, there are a number of fast cash online loan providers that you can choose from that’s listed on our site. Review their details and choose which one is best for your needs.