Businesses affect national economic growth and development. In the Philippines, they have become one significant determinant of national income. Despite the financial downturn in some parts of the world, many are still going into business believing that it is one good way to survive these tough economic times. While some withstand the crisis as they easily find the means to expand their trade, some are unable to overcome the hardships and could not continue because of financial constraints. The lack of monetary resources hinders some businessmen to consider expansion. Most of them own small/medium enterprises or SMEs. There is one solution to this problem, however, and that is to apply for a loan.Businesses affect national economic growth and development. In the Philippines, they have become one significant determinant of national income. Despite the financial downturn in some parts of the world, many are still going into business believing that it is one good way to survive these tough economic times. While some withstand the crisis as they easily find the means to expand their trade, some are unable to overcome the hardships and could not continue because of financial constraints. The lack of monetary resources hinders some businessmen to consider expansion. Most of them own small/medium enterprises or SMEs. There is one solution to this problem, however, and that is to apply for a loan.About Us
“GPFL was founded on the principle that every Filipino business enterprise deserves a chance to flourish.”
GPFL is a private lending company established in November 2009. We help those who own small and medium enterprises as they aspire to expand their businesses. Believing in the power of SMEs in changing the current condition of the economy of the Philippines, GPFL is willing to assist challenged enterprises to grow, expand, and succeed and to contribute to the country’s economic growth and development.
Contact Us
+632-889-5115
naomiugot@GPFLfinancing.com
If you have any questions or concerns,
we are here to listen.
Definition and Statistics
SMEs in the Philippines have created an important presence in terms of economic activity. There are also two other business categories aside from small and medium enterprises: the micro and large enterprises. MSMEs or micro, small, and medium enterprises are defined by the Department of Trade and Industry (DTI) as “any business activity/enterprise that is engaged in industry, agri-business/services, whether single proprietorship, cooperative, partnership, or corporation whose total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, must have value falling under the following categories:
Loan: A Considerable Choice
With the current situation of the world’s economy, most businessmen who cannot afford an expansion with their current financial standing thought that there is no other way to realize their plans. This thinking was even more intensified when many banking institutions denied the loan applications of most start-up business owners. Additionally, government agencies that provide loans to small and medium enterprises have become limited and those that currently operate have restricted the number of loans they provide. As a result, private lending companies earned more popularity.
