FINTQ lends support to MSME program

MANILA, Philippines — FINTQnologies Corp. (FINTQ), the financial technology arm of PLDT’s Voyager Innovations, has expressed its support for the government’s Pondo sa Pagbabago at Pag-asenso (P3) program through its upcoming financial literacy caravan in the first three pilot provinces.

“MSMEs are responsible for 35 percent of the gross domestic product of the country, providing work to around 60 percent of the total employed population. We know how they can further propel growth, thus we are one with the government in uplifting Filipino businesses,” FINTQ managing director Lito Villanueva said.

“To show our support, we will conduct KasamaKA for MSMEs financial literacy caravans in Tacloban, Occidental Mindoro, and Sarangani, the first three pilot provinces of the government’s P3 program before it was made available nationwide in April 2017,” he added.

KasamaKA is the umbrella financial inclusion program led by FINTQ in cooperation with partners.

“At DTI, we always seek ways to improve the business environment for SMEs and one aspect is providing access to finance that is why we launched the Pondo Para sa Pagbabago at Pag-asenso program. And now, having a technology partner like FINTQ that provides a digital lending platform like Lendr that is secure and easily accessible, presents more options to microenterprises with regard to their financial needs,” Trade Secretary Ramon Lopez said.

The Department of Trade and Industry through its microfinancing arm Small Business Corp. has allocated P1 billion for the P3 program which seeks to assist microentrepreneurs financially and enable them to grow their businesses.

The agency has partnered with various bank and non-bank institutions to provide MSMEs better access to funds.

Villanueva said FINTQ, through its digital lending platform Lendr, will also offer on-site loan application assistance for MSMEs.

“During these financial literacy caravans, we will also assist participating MSMEs to apply for loans on-site through Lendr which is a marketplace where they can choose from our various bank and non-bank partners to apply for credit. Since Lendr is digital, MSMEs need not travel to go to branches or offices of lending companies to be able to access loans,” he said.