First Circle gives SMEs the chance to compete online by providing easy access
First Circle, the first digital SME financing company in South East Asia, has continued its aim to give small businesses (SMEs) the chance to compete at online market by providing an easy access to finance.
First Circle do this through a simple online account, advanced data analytics, dedicated customer success representatives, and a community of business owners complete with a host of useful resources.
E-commerce continues to gain momentum in the country through successfully inviting traditional consumers to purchase online. However, access to finance still remains as the biggest hurdle for SMEs although they contribute about 99% of economic growth in the country.
With this, First Circle enables SMEs by providing them access to financing the most convenient solution, wherein consumer engages with them online with no paper exchanged.
According to President and CEO of First Circle Patrick Lynch, what takes 14 hours on average to complete for manual applications to traditional institutions takes only 2-3 minutes with First Circle’s proprietary-built secured system.