Fundspace offers digital-based solution to funding issues hounding MSMEs

As fund sufficiency remains a major challenge for micro, small and medium enterprises (MSMEs) particularly in emerging markets, 917Ventures’s loan aggregator Fundspace is offering 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 workforce2. 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. 

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:  

• Visit the FundSpace website 

• Specify the loan amount 

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

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

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.