Micro, small and medium enterprises (MSME’s) in the Philippines are considered the backbone of our economy. MSME’s contribute more than two-thirds (69.9%) of all jobs in the Philippines. They also account for 32% of the total economic output of the country. That is why in order to further grow our national economic and human index development, MSMEs should continue to grow.
Small and medium Filipino entrepreneurs need to find the best partners to ensure the growth and success of their enterprise. These business partners could be their co-founders, employees, investors, and creditors who will help and provide them various resources, which include human resources, knowledge and financial resources, to support their business.
Financial institutions and creditors play a vital role in shaping the future of small and medium companies in our country. Small business owners need adequate financing to further the growth of their business. Hence, they have to look for a reliable partner who will provide them the financial support that they need.
Esquire Financing, Inc. (EFI) is currently known as the leader in growth stage financing in the country. The company’s mission is to equip emerging entrepreneurs with the right mind-set, essential skills, and the necessary financing support to achieve sustainable business growth.
As a financing company, Esquire Financing does not only focus on providing financing support to its clients, but it also provides add-on services, such as consultancy on business and financial management as well as IT and corporate strategies to ensure the continuous growth of their clients’ businesses.
Esquire Financing Inc. was established in April 2011. The company used to be a portfolio of Esquire International Financing Inc. (EIFI) targeting the small and medium enterprise (SME) sector. Even as a portfolio of EIFI, EFI already showed potential and this was proven when it was able to bag the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Plaque of Merit during the award night held in Istanbul, Turkey on April 25 – 27, 2012 for the company’s contribution to SME development in the Philippines.
EFI offers the following products or services to small and medium enterprises who are already at the growth stage:
– Non-collateral business loans
– Additional working capital
– Consultancy on business and financial management as well as IT and corporate strategies
EFI understand that most SMEs, as they are still very small or young, may not have the assets to meet the collateral requirements that are usually required by other financing institutions such as banks. Thus, they offer non-collateral loans, in response to that common dilemma, to finance their client’s growth.
The company offers loan amounts from PHP 100,000 to PHP 10,000,000. Their loan terms are also flexible. Financing institutions normally have loan terms of more than a year, but certain entrepreneurs desire to pay off their loan as soon as they can. EFI makes this possible with loan payment terms ranging from 1 month to 12 months. Moreover, EFI’s credit evaluations are made in a timely manner with loan decisions released within 7 business days.
“Esquire (EFI) is in the business of changing lives and why not start with the people that need it most”, said Rajan Uttamchandani, CEO of EFI. Rajan holds a bachelors degree in Corporate Finance and Accounting from Bentley College and a Masters on Entrepreneurship degree from the Asian Institute of Management. He also finished the Key Executives Program for Owners, President and Management, at Harvard Business School.
He is also the President and CEO of Esquire International Financing Inc. His experience strongly guides EFI toward its goal of boosting SME development in the Philippines. Rajan also founded HELP (Helping Entrepreneurs Launch Plentitude), a non-profit micro-financing company with over thirty branches across the Philippines. He is an active member of the Rotary Club of Makati Central, Makati Business Club and the Management Association of the Philippines.
EFI continues to support the development of SMEs in the Philippines by being the co-presenter of the Philippine SME Expo of 2013—the biggest expo targeting SMEs in the country.
To learn more about how Esquire Financing can help your business grow and become sustainable, visit their website at www.esquire.com.ph. You may also visit their office address at 45/F PHILAM Life Tower, 8767 Paseo De Roxas, Makati City, PH 1226 or call them at numbers (+632) 846 2923/3047/2521/3726.
Disclaimer: This article is for general informational use only and is not intended to serve as legal, financial, accounting or tax advice. Users of this information are encouraged to consult with professional advisors and financial experts regarding their specific matters before making any decision.
Victorino Q. Abrugar is a marketing strategist and business consultant from Tacloban City, Philippines. Vic has been in the online marketing industry for more than 7 years, practicing problogging, web development, content marketing, SEO, social media marketing, and consulting.
Nice buildup and advertisement on SME in the Philippines. Nice introduction about the CEO of EFI.
My only question would be: how many MSMEs have been financially backed by EFI since those small start ups started and how are some of those businesses fared now?
I am more interested not in the financial backing but more with the way your stated that EFI provides the following:
– Non-collateral business loans
– Additional working capital
– Consultancy on business and financial management as well as IT and corporate strategies
I think these are more valuable for more start ups, assuming the pieces of advice are up-to-date and evolving according to different market trends and changes.