917Ventures’ Fundspace Offers Philippine MSMEs Grappling with Credit and Funding Issues New Seamless Digital-Based Solution

Manila, Philippines, 30 January 2024–  As fund sufficiency remains a major challenge for MSMEs, particularly in emerging markets, 917Ventures’s loan aggregator Fundspace is offering 

MSMEs and local entrepreneurs a swift, user-friendly, and easily accessible digital solution to bridge the financing gap in the Philippines.

“No one can deny the outsized impact of micro, small, and medium enterprises (MSMEs). According to the United Nations Development Programme, these businesses contribute 40% to the country’s gross domestic product (GDP) and employ 63% of the local workforce. Despite their substantial contributions, many MSMEs continue to be underfunded. This hinders the growth of these businesses, and in turn may hinder the growth of the economy,” said Martin Luchangco, Entrepreneur-in-Residence at 917Ventures.

Straightforward Application Process
FundSpace caters to enterprises of all sizes, ensuring easy access to the funding to ensure business growth and sustainability. It connects borrowers to different lending partners offering various loan products through an accessible mobile-friendly platform. 

Entrepreneurs can start their financing journey in four simple steps: 

1. Visit the FundSpace website

2. Specify the loan amount

3. Submit necessary business documents (such as Barangay and Mayor’s Permits, DTI Permits, valid IDs, and the latest three months bank statements), and; 

4. Wait for its dedicated account managers to get in touch. 

1. The platform has a quick 14-day loan approval timeline, a significant improvement over the typical 60-day timeline seen in traditional banks.

Together with its lender partners that include Alon Capital, iGlobal, Mt Fuji Lending, BPI Business Banking, First Circle, Zenith Capital, and Esquire, FundSpace provides loans from P5,000 to upwards of P100 million.

“It’s important to provide flexible loan amounts to better serve MSMEs across the board–from those who are just starting out, to those who want to aggressively grow their businesses,” Luchangco explained.

Since launch, FundSpace has facilitated loans across multiple businesses, including industries like retail, construction, food and beverage, services, and software industries, underscoring its position as a valuable partner of MSMEs, helping propel them toward sustainable growth and success.

Inclusive Access to All Types of Businesses

Data from the United Nations Development Program showed that more than half of MSMEs (67%) in the Philippines face challenges when it comes to securing funding. 

Many of these entrepreneurs rely on personal savings or loans from family and friends to start or expand their businesses, as banks and other financial institutions often subject entrepreneurs to a lengthy, tedious process, demanding extensive documentation. Rigid collateral requirements and high-interest rates pose additional barriers, limiting the accessibility of crucial financial resources and cost of business for these enterprises.

In response to these challenges, FundSpace was developed to simplify the borrowing process.

Features to look forward to

Beyond continuing to expand its loan offerings, FundSpace plans to launch a credit scoring feature later in the year. This feature is designed to streamline the application process for borrowers by reducing the required documentation. Simultaneously, for lenders, it will facilitate quicker assessments and enable the platform to deliver higher-quality leads. 

FundSpace's commitment to innovation not only enhances the user experience for borrowers but also strengthens the efficiency and effectiveness of the lending process for its valued network of financial partners.

"Empowering MSMEs with easy financial solutions is both an investment in their growth and in fostering economic resilience. By removing financial barriers for these enterprises we are contributing not only to their success but also to the sustainable development of communities and the Philippine economy,” Luchangco added.

Learn more about FundSpace by visiting fundspace.ph.

Golden Visa Centrale Unveils Greek Golden Visa Program, Offering Filipinos Prime Investment Opportunities

MANILA, Philippines, 30 January 2024 – Golden Visa Centrale (GVC), a leading international property marketing consultancy specializing in residency by investment, has announced its latest offering tailored for Filipino investors looking for opportunities in Greece through its new Greek Golden Visa program. 

“Residency-by-investment programs have been getting traction for investors across the world, including the Philippines. These programs not only grant investors and their families the freedom to travel, to study, to work, but also offer opportunities for wealth diversification,” said Vicky Luis, President and Founder of GVC. 

 

Golden Visa is a residency-by-investment program that allows individuals and their families to obtain foreign residency or citizenship by meeting a minimum investment requirement indicated by the country’s government. It offers benefits like unrestricted travel and potential tax advantages. It is estimated that more than 130,000 people have obtained golden visas similar programs in European countries including Portugal, Greece, Italy, and Spain. Over 60 countries globally offer golden visa programs, with European countries including Portugal, Spain, and Greece being some of the most popular. 

GVC, established in 2019, successfully processed and facilitated hundreds of golden visa applications across various European countries and the U.S.

“Since 2019, we have seen the number of golden visa applications coming from the Philippines increase by at least 30% year-on-year, underscoring a growing trend of Filipinos seeking international residency and investment opportunities. We are excited to bring the Greek Golden Visa program to Filipino investors. This is a program perfect for those looking for profitable investments or those who want to live in one of the most beautiful places in the world,” Luis added.

Greek Golden Visa program

The Greek Golden Visa program which began in 2013, granted 31,000 golden visas in 2022, contributing €2.3 billion into the Greek economy. With an initial investment of  €250,000, the program offers Filipinos an opportunity to invest in the vibrant city of Patra, the third-largest in Greece and a thriving university hub, located on the Pelopponese peninsula. The investment comes with a host of compelling benefits, annual income, including a five-year permanent residence visa, the possibility of reunification for up to three generations of family members, the convenience of remote application, visa-free travel within Schengen countries, one of the fastest processing times, and a no stay requirement.

“The program's appeal lies in its combination of a vibrant living experience and a reasonable investment threshold, making it a good choice for those seeking affordable and desirable residency opportunities,” explained Luis. "The Greek Golden Visa program, along with our other offerings, reflects our mission to offer clients the freedom to enjoy beautiful landscapes while actively contributing to the economic development of cities and countries worldwide."

Learn more about the Greek Golden Visa program by joining Golden Visa Centrale’s events on February 7, 5:30 p.m., Manila House, Taguig City; February 8, 11 a.m., Manila Polo Club, Makati City; and February 9, 9 a.m., Shangri-La at the Fort Horizon Lounge, Taguig City. Register your attendance by visiting bit.ly/GVC-Greece. For more information on GVC’s other offerings, visit https://goldenvisacentral.com/ or the GVC Facebook page.

Nadine Lustre and Bea Alonzo Feature in Behind-the-Scenes Film of OPPO’s nature-inspired Reno11 Series 5G TVC

Offering an exclusive first look at the OPPO Reno11 Series 5G, brand ambassadors Bea Alonzo and Nadine Lustre create anticipation for the groundbreaking phone as seen in the behind the scenes of the TVC for the newest addition to the Reno series, providing a sneak peek into the new Portrait Expert features that make it stand out.

Filmed amidst the vibrant greenery and sparkling waters of Batangas, the natural visual treat accentuated the impressive camera capabilities of the OPPO Reno11 Series 5G. “Shooting against a windy green backdrop was a poetic experience,” said Bea Alonzo expressing how the Reno11, held against her hair, made her feel like a character in a painting. The 32MP telephoto lens, a standout feature of the phone, is lauded for its ability to capture these moments perfectly, adding a magical touch to the visuals.

The OPPO Reno11 Series 5G debuts as the latest Reno series offering from OPPO, inspired by nature as reflected in the phone’s design with the hues of Pearl White and Wave Green. A captivating behind-the-scenes sneak peek at the journey of Bea and Nadine into nature, which highlighted the OPPO Reno11's Telephoto Camera, is revealed in the TVC-making film video.

Rooted in the elegance of pearl white and the vibrancy of wave green, the phone’s design philosophy sets the stage for a visual masterpiece to capture the essence of the natural world. As seen in the video, scenes outdoors are presented, echoing the OPPO Reno11 Series 5G's deliberate integration of natural textures into its design. “Holding the Reno11 Pro 5G while walking on the beach, it felt like I was an explorer uncovering the secrets of pearl white.” Nadine excitedly shares.

The telephoto lens emerges as a signature weapon, capturing a moment within a moment. Bea emphasizes how the lens enhances the vividness of every performance, particularly in capturing interactions with the green scenery of nature. She also shared how the phone captured every subtle movement without disrupting her natural state, allowing the photographer to frame every smile and gaze, revealing her raw, standout emotion.

For Nadine, the OPPO Reno11 Series 5G is a game-changer, blending harmoniously with its surroundings, creating a magical and unforgettable feeling. To beautifully sum it up, it all goes back to embodying the Reno11 Series 5G's design philosophy – to stand out and make every portrait an extraordinary expression of an individual’s most natural and authentic self captured in the frame.

The OPPO Reno11 Series 5G is launching in the Philippines on February 1. Stay updated on the latest Reno series news by visiting OPPO Philippines’ official website at www.oppo.com.ph/ or its official Facebook page at OPPO Philippines.