The Department of Trade and Industry (DTI) has renewed its partnership with online lending firm First Circle Growth Finance Corp. (First Circle) to provide financing for micro, small and medium enterprises (MSMEs) through 2028, BusinessWorld reported.
This marks the fourth renewal of the partnership since the collaboration began in 2018, according to First Circle. The lending firm specializes in providing working capital and growth financing to MSMEs, which are a key driver of the Philippine economy but often face challenges in accessing traditional bank loans.
The renewed agreement underscores the DTI's commitment to supporting MSMEs through alternative financing channels. First Circle has been a partner in several DTI programs aimed at improving small business access to credit, including the Pondo sa Pagbabago at Pag-asenso program.