GHL EXTENDS SUCCESSFUL LOAN FACILITY TO THE PHILIPPINES

Key highlights:
  • GHL expands its core payment processing business in the Philippines with the GHL SME Loan for existing merchants.
  • The GHL SME Loan offers competitive interest rates and a simplified application process to help SMEs in the Philippines.
  • GHL will expand the lending service beyond its own merchant network in the Philippines by the third quarter of 2023. 
Manila, PHILIPPINES:  Malaysia-based GHL Systems Berhad (GHL), the leading payment service company in the ASEAN region, plans to replicate the success of its micro-lending initiative with the launch of the GHL SME Loan in the Philippines.

The micro financing facility aims to provide small and medium enterprises (SMEs) with funds to support their cash flow and business growth. GHL is offering its 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 has already attracted over 700 merchants and disbursed over 40 million Malaysian Ringgit (about Php285 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 by August 2023. 

“SMEs are the lifeblood of the Philippine economy. We understand that access to reliable credit is a critical challenge for many small businesses due to the stringent requirements and the lengthy application process of banks. 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,” newly appointed GHL Philippines CEO Jay Tirona said. 

The GHL SME Loan has been approved and registered with the Philippines’ Securities and Exchange Commission (SEC). Combined with competitive interest rates, the GHL SME Loan offers a simplified loan application process. Loan applicants need only to present the authorized signatory’s valid government-issued ID. There is no upfront payment required, ensuring that businesses can access the funding they need quickly and easily.

“The GHL SME Loan facility reaffirms the company’s commitment to drive a more financially inclusive ecosystem that enables SMEs to access resources needed for growth,” Mr. Tirona added. To apply for a GHL SME Loan or obtain further details, visit https://ph.ghl.com/smeloan.