FINANCIAL technology (fintech) is transforming business operations in the Philippines. Small and medium enterprises (SMEs) have historically faced challenges in accessing funding, but fintech is changing the game. With innovative financial solutions that offer easy onboarding, non-collateral loans and free-to-open revolving credit lines, SMEs in the Philippines now enjoy a new era of freedom.
Traditionally, SMEs in the Philippines had limited access to funding due to collateral requirements and cumbersome loan processes imposed by most commercial banks. This hindered their ability to secure funds for business growth, equipment investment and operational expansion. However, the emergence of fintech companies is providing SMEs with the funding they need, bypassing the struggles associated with traditional banks.
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