MANILA – Globe myBusiness and the FINEX Foundation for Entrepreneurship, Inc. (FFEI) recently led the signing of a Memorandum of Cooperation (MoC) to expand access and capabilities of up-and-coming entrepreneurs to finance, learning opportunities and viable markets. The alliance will serve more than 130,000 individuals and institutions, including FINEX’s 700-plus corporate partners, and a wide roster of Globe myBusiness clientele.
Close to 200 FFEI members, SMEs as well as partner organizations, including the United States Agency for International Development (USAID) and the Trade and Service Related Securities Dealer Automated Quotations (TRESDAQ) witnessed the formalization of the strategic partnership last July 23 during the second FINEX SME forum, forming part of the National SME Week celebration led by the FINEX Foundation for Entrepreneurship, Inc.
Under the MoC, Globe myBusiness as a digital platform enabler will help expand FINEX’s current loan portal to include several features such as e-learning, availability of business solutions like Software-as-a-Service or SaaS and mobile apps, online linkages to both local and international supply chains, SME risk rating systems, access to resource and industry programs, messaging capabilities, training modules, large enterprise registration, social media networking and risk rating systems, among others.
On the other hand, USAID has committed to make available nationwide seminars to Globe myBusiness SMEs across the country. Likewise, business information company, Dun & Bradstreet Philippines (D&B) will aid in upgrading the loan portal and populating the same with more SME database. Bank partners meanwhile will provide assistance by way of loan extension and processing to qualified SME borrowers.
Globe Chief Operations Officer for International and Business Markets Gil Genio pointed out that “Globe myBusiness, FFEI and our colleagues under the MoC have complementary roadmaps to expand the role of SMEs in contributing to the country’s drive toward inclusive growth. Together, we want to build a progressive community empowering SMEs to succeed.”
Meanwhile, Globe myBusiness Senior Vice President Martha Sazon underscored that, “it is very opportune that we are partnering with FFEI as we both share the same advocacy of inspiring and enabling our local SMEs to succeed. Our collaboration will benefit SMEs to perform better as they are a foundation of our economic development.”
FFEI Vice President and Executive Director Vic Dela Dingco said that, “We anticipate that this momentous partnership will help address pain points of SMEs with regard to financial literacy, lending, linkages with big enterprises and industries. The aim of the portal is to create a virtual SME community online where SMEs can gain access not only to credit but to education and capacity building programs and ultimately, access to markets.”
The whole day affair featured topics on innovations in SME lending, benefits of a credit information system, capacity building, franchising, and emerging trends in SME financing in the Asia-Pacific region. FINEX members, partner banks, SME associations as well as select SME customers of Globe myBusiness learned first-hand information on ICT solutions available to grow their businesses, including its Globe myBusiness Broadband Office Connectivity Bundle with CCTV offering, Globe Charge, a mobile credit card reader and PisoNet, among many others. These were showcased in the Globe myBusiness booth, an innovative one-stop shop which provides customizable products and services designed to the specific needs of SMEs.
