I personally believe that Small and Medium Enterprises (SMEs) remain largely underserved in the Philippines when it comes to financing support. However, I also think that SMEs hold great potential for growth and serve a bigger customer segment if these small business owners get the support they need in terms of funding and even knowledge sharing. Think of small travel operators, neighborhood restaurants and cafes, and makers of crafts or gift items. You might also know some of the small companies that gained popularity (and size) during the lockdown. These SMEs can either collectively contribute to the national economy or even just within the communities they serve.

Malaysia’s GHL Extends Loan Facility To Help Boost Local SMEs 

With that, it’s encouraging to know that there are financial institutions that are willing to help Philippine SMEs through lending. One such institution is Malaysia-based GHL Systems Berhad (GHL), the leading payment service company in the ASEAN region, which plans to replicate the success of its microlending initiative with the launch of the GHL SME Loan in the Philippines.

The microfinance facility aims to provide small and medium enterprises (SMEs) with funds to support their cash flow and business growth. GHL is offering its SME customers the convenience of making loan payments through their existing settlement arrangement with the payment service company.

Since its launch in Malaysia in 2022, the GHL SME Loan facility has already attracted over 700 merchants and disbursed over 40 million Malaysian Ringgit (about Php285 million) in loans to date.

After its successful rollout across GHL’s existing merchant base in the Philippines, the GHL SME Loan will be offered to the broader SME community nationwide by August 2023.

“SMEs are the lifeblood of the Philippine economy. We understand that access to reliable credit is a critical challenge for many small businesses due to the stringent requirements and the lengthy application process of banks. The GHL SME Loan aims to address these challenges and provide businesses with the financial capital to compete and grow in the Philippines’ thriving business environment,” newly appointed GHL Philippines CEO Jay Tirona said.

The GHL SME Loan has been approved and registered with the Philippines’ Securities and Exchange Commission (SEC). Combined with competitive interest rates, the GHL SME Loan offers a simplified loan application process. Loan applicants need only to present the authorized signatory’s valid government-issued ID. There is no upfront payment required, ensuring that businesses can access the funding they need quickly and easily.

“The GHL SME Loan facility reaffirms the company’s commitment to drive a more financially inclusive ecosystem that enables SMEs to access resources needed for growth,” Mr. Tirona added.

To apply for a GHL SME Loan or obtain further details, visit https://ph.ghl.com/smeloan.

About GHL Systems Berhad

As ASEAN’s leading payment solutions provider, GHL’s reach spans across 6 countries; Malaysia, Philippines, Thailand, Indonesia, Singapore, and Australia – stretching over a vast footprint of over 434,400 payment touchpoints across the region. At the forefront of the region’s cutting-edge fintech, GHL empowers the payment revolution that is shaping today’s spending trend, offering extensive payment options, both offline and online to fulfill merchants' and consumers’ needs.

GHL is the leading payment acquirer in ASEAN for over 100 global and regional payment schemes and channels, processing over RM1.5 billion in payment transactions per month. Apart from being Malaysia’s largest prepaid credit top-up and bill collection network, GHL aspires to catalyze the sustainable livelihood of the Micro Small Medium Entrepreneurs (MSMEs) through financial and non-financial value-added services.

GHL has been listed on Bursa Malaysia since 2003. (www.ghl.com).