Loan duration, interest rate, processing fee. It is that simple.
There is nothing more frustrating than finding out that you have been billed more than what you were expecting to pay.
You enjoy the service, feel victorious because it’s something you can afford, but here comes the notice for the month’s bill, announcing that you must pay a hefty amount of charges that were not declared upfront. You put your palm on your head as you realise you have fallen into the pitfall also known as hidden charges.
No money should be spent on a commodity which you were not aware of or didn’t agree to pay. This is especially true when availing of a business funding service.
Business funding from First Circle is short-term and non-collateral. There are two kinds of business funding which entrepreneurs can avail of, Purchase Order Financing and Invoice Financing.
Purchase Order Financing is used by suppliers, manufacturers, and distributors to meet large orders from their clients. Invoice Financing, on the other hand, is used by business owners who wait for their clients to pay pending invoices.
First Circle’s monthly interest rate will range from 1.99% to 3.49%, plus a processing fee of 1.99% of the total loan amount. The loan duration is up to six (6) months only. You can finance your purchase orders and invoices amounting from a minimum of PHP 25,000 up to a maximum of PHP 3,500,000.
In finding out when to use short-term funds, it’s also very important to learn about the loan duration, range of monthly interest rate, and processing fee.
One of the advantages of a short-term loan is that business owners don’t have to spend more than six months to pay for an obligation which they will only use for a short period of time. For example, if you get a large customer order due in two months or bridging a temporary cash flow gap.
First Circle’s short term loans have an interest rate that’s tailor-fit to a business owner’s business profile and needs. It is non-collateral so loan applicants go through a rigorous risk verification.
Unlike other financing alternatives, First Circle will finance you not based on relationships or collateral, but based on meritocracy. Strong businesses deserve the resources they need to grow. With First Circle, entrepreneurs are guaranteed to experience a financing service that is fair and reasonable.
Learn more about the process and requirements of getting short-term loans here.