A Filipino fintech startup calledb launched a tool called Project Finder last July 7, 2022, as part of its growing finance institution.
Using the First Circle Project Finder, Filipino small and medium enterprises (SMEs) can find government contracts relevant to their products and services.
As First Circle pointed out, SMEs often have difficulty finding suitable clients and projects since they rely primarily on referrals and word-of-mouth instead of using digital tools that are capable of helping them increase sales and marketing efficiency.
The startup noted that businesses in the Philippines could get a lot of business from the Philippine government. There are hundreds of postings, or tenders, on a website called PhilGEPS, the Philippine Government Electronic Procurement System, for which small businesses can submit quotations.
Although PhilGEPS exists, not many SMEs take advantage of it, perhaps because they are unfamiliar with it.
To solve this problem, Project Finder was developed. As a result of extensive research, this online tool presents the contracts listed on PhilGEPS and other websites of local governments, which would’ve been inaccessible without such a detailed examination of the sources.
PhilGEPS Project Finance is a company-owned loan product that allows businesses to borrow money directly from the online tool, which is part of the company’s loan product line, straight from the platform.
To qualify for this loan, applicants must pay only the amount they borrow plus interest, which is always available.
You can access it by clicking here: https://my.firstcircle.ph/project-finder/.
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