Malaysia-based GHL Systems Berhad, the leading payment service company in the ASEAN region, will launch a loan facility for small and medium enterprises this month in the Philippines.
The microfinance facility aims to provide small and medium enterprises with funds to support their cash flow and business growth. GHL is offering 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 attracted over 700 merchants and disbursed over 40 million Malaysian ringgit (about P285 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 in August 2023.
“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,” said newly appointed GHL Philippines chief executive Jay Tirona.
The GHL SME Loan was approved and registered with the Philippines’ Securities and Exchange Commission.