International Finance Corp. said it is providing P500-million loan to Esquire Financing Inc., the fourth largest non-bank financing institution in the country, to increase access to finance for smaller businesses, particularly women-owned enterprises.
“The funding will allow Esquire, a market leader in the unsecured small and medium enterprises loan segment, to grow its loan portfolio and better serve women-owned SMEs during and after the global pandemic,” IFC said. Esquire differentiate itself from other NBFI and bank competitors as it focuses exclusively on small businesses.
Yet, limited access to finance deters their growth. In response, IFC, through its advisory services, with support from the Australian government, will help create a robust institutional environment by strengthening EFI’s risk management framework.
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