{"id":4344,"date":"2023-08-11T00:01:00","date_gmt":"2023-08-10T16:01:00","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=4344"},"modified":"2023-08-10T18:40:20","modified_gmt":"2023-08-10T10:40:20","slug":"daily-markup-806-first-circle-signs-deal-with-department-of-trade-industry-to-help-filipino-smes-grow-and-more-from-this-week","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=4344","title":{"rendered":"Daily Markup #806: First Circle signs deal with Department of Trade &amp; Industry to help Filipino SMEs grow and more from this week"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"710\" height=\"391\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2023\/08\/first-circle.jpg\" alt=\"\" class=\"wp-image-4345\" srcset=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2023\/08\/first-circle.jpg 710w, https:\/\/dailymarkup.com\/wp-content\/uploads\/2023\/08\/first-circle-300x165.jpg 300w\" sizes=\"(max-width: 710px) 100vw, 710px\" \/><figcaption class=\"wp-element-caption\">Photo credit: <a href=\"https:\/\/bit.ly\/3KwEEax\">First Circle<\/a><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Credit where due<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Department of Trade and Industry (DTI) of the Philippines and 500-backed fintech company First Circle renewed their partnership to foster competitiveness and growth in the Small and Medium Enterprises (SMEs) sector for the next 3 years.<\/li>\n\n\n\n<li>In the last 5 years, First Circle said they have dispersed over US$153M to more than 3,450 businesses. Half of these were to businesses reeling from the impact of the pandemic.<\/li>\n\n\n\n<li>Using First Circle\u2019s proprietary underwriting processes, SMEs can get up to US$360K in financing for as low as 0.99% monthly interest, even those that have been opened for less than a year, as long as they can show annual business revenue of at least US$ 90K, are Filipino residents, and a registered business.&nbsp;<\/li>\n\n\n\n<li>\u201cEvaluating SMEs based on their operational age rather than merit will only push them to borrow from predatory lenders,\u201d says First Circle Head of Acquisitions Alan Smyth.<\/li>\n\n\n\n<li>This partnership is timely, with the Regional Comprehensive Economic Partnership (RCEP) Agreement coming into effect in June 2023. The RCEP is a landmark agreement among 15 Asia-Pacific countries, offering local SMEs unprecedented access to a combined market of 2.3 billion consumers by reducing tariffs and trade barriers.<\/li>\n\n\n\n<li>In addition to financial resources, First Circle will also provide financial literacy and business knowledge to SMEs.&nbsp;<\/li>\n\n\n\n<li>Read the full release <a href=\"https:\/\/bit.ly\/3KwEEax\">here<\/a>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Other stories you may have missed:&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/bit.ly\/dailymarkup802\">abillion <\/a>founder Vikas Garg shares how the 2016 US election drove his passion to use social media for good<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/dailymarkup803\">Halogen Capital<\/a> launches managed fund for crypto investors, includes Shariah-compliant options and SC license<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/dailymarkup804\">First Move<\/a> aims to deploy pre-seed funds of up to USD100k to founders in days instead of months<\/li>\n\n\n\n<li><a href=\"https:\/\/bit.ly\/dailymarkup805\">Gnowbe<\/a> acquires Differ to integrate AI seamlessly into its macro-learning platform<\/li>\n\n\n\n<li><a href=\"https:\/\/themalaysianreserve.com\/2023\/07\/12\/aerodyne-strives-to-lead-software-technology-services-industry\/\">Aerodyne <\/a>says that in Japan, the trust between start-ups and VCs are conducive to the industry\u2019s growth <a href=\"https:\/\/themalaysianreserve.com\/2023\/07\/06\/vtf-helps-companies-connect-virtually\/\">VTF<\/a> CFO Kendrik Tan tells Malaysian Reserve that they were initially formed to hold virtual press conferences during COVID lockdown<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foodmarkethub.com\/blog\/revolutionising-food-procurement-food-market-hub-and-supplybunny-announce-partnership-to-empower-f-b-businesses\">Food Market Hub<\/a> partners with Supply Bunny to provide a seamless procurement efficiency for F&amp;B businesses<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Credit where due Other stories you may have missed:&nbsp;<\/p>\n","protected":false},"author":5,"featured_media":4345,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322,319],"tags":[398],"class_list":["post-4344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","category-weekly-roundup","tag-first-circle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #806: First Circle signs deal with Department of Trade &amp; 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