The Finex SMEplus Loan Portal at www.finex.sme.org.ph was launched last month as a response to the small and medium enterprise (SME) sector’s need for easier access to financing and financial advice.
Developed by the Financial Executives Institute of the Philippines (FINEX), in cooperation with the Department of Trade and Industry (DTI), the Finex Foundation for Entrepreneurship, Inc. (FFEI), and Eastern Communication, SMEplus puts SMEs in need of loans immediately in touch with possible banks and financing institutions that can lend to them as well as get advice from financial experts.
The portal, in other words, connects prospective borrowers with potential lenders, including the Land Bank of the Philippines, Citibank, PSBank, Orix Metro Leasing, PNB, BPI Family Bank, Security Bank, EastWest Bank, Philippine Business Bank, Plantersbank, GM Bank and Small Business Corp.
“Through this Internet-based portal, MSMEs can easily post their loan requests while lenders may view and directly communicate with borrowers regarding the provision of loans. They can also conduct a search for fellow entrepreneurs, service providers, lenders, consultants and other capacity-building programs for MSMEs,” FFEI said.
Eastern Communications hosts the SMEplus web site, while FFEI administers the web portal and provides advisers who will give mentoring in loan application, documentary preparation, financial advisory and other business services at the Roberto F. de Ocampo Center for Financial Excellence, Unit 1901, 139 Corporate Center along Valero Street in Makati City.
The Philippine Chamber of Commerce and Industry and Employers Confederation of the Philippines and other industry groups will help populate the web site of databases of MSMEs.
The Finex targets to register about 200,000 micro, small and medium businesses in the online portal by mid-year.
More services are expected to be offered later this year, including an online marketplace, a messaging venue, and training.
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