First Circle secures $4.9 million sustainable financing facility from cathay united bank

The funding will help First Circle provide more loans and financial support to SMEs in the Philippines.

Many small and medium-sized businesses (SMEs) in the Philippines still find it difficult to get loans and financial support from traditional banks.

Through this partnership, Cathay United Bank is increasing its presence in the Philippine market by supporting First Circle, a fintech lender focused on helping SMEs.

Cathay United Bank is one of the biggest banks in Taiwan. The bank has been expanding its presence across Asia through partnerships, financing deals, and sustainable banking projects.

First Circle plans to use the new funding facility to strengthen its financial position as more small businesses in the Philippines look for easier access to financing.

Since starting operations, First Circle has focused on offering digital financing solutions that make business lending faster, simpler, and more convenient for entrepreneurs.

Besides working capital and business loans, First Circle has also started offering financing solutions for small businesses that want to use renewable energy and follow sustainability practices.

The company’s Solar Financing product helps businesses switch to clean energy by providing simple and flexible funding options for solar projects.

“Cathay United’s financing enables First Circle to continue expanding access to credit to high quality SMEs who are left behind by the banking system. We look forward to expanding the relationship,” First Circle executive Josh O’Donnell said.

The 300 million peso funding facility will help First Circle grow its business further and provide more financing support to micro, small, and medium-sized businesses across different industries in the Philippines.

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