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MANILA – GHL Systems Berhad (GHL), a Malaysia-based payment service company, is set to launch its GHL SME loan initiative in the Philippines to support small and medium enterprises (SMEs) with essential funds for their cash flow and business expansion.

Since its launch in Malaysia last year, the GHL SME loan facility has attracted over 700 merchants, disbursing more than 40 million Malaysian Ringgit (approximately PHP285 million) in loans.

According to GHL, after introducing the service to its existing merchant base in the Philippines, the GHL SME loan will be available nationwide to the broader SME community 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 banks’ stringent requirements and lengthy application process. 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,” said GHL Philippines CEO Jay Tirona.

The GHL SME loan has already received approval and registration from the Philippines’ Securities and Exchange Commission (SEC) and offers a simplified loan application process.

Loan applicants only need to present the authorized signatory’s valid government-issued identification cards, and there is no upfront payment required, ensuring quick and easy access to much-needed funding for businesses.

“The GHL SME loan facility reaffirms the company’s commitment to driving a more financially inclusive ecosystem that enables SMEs to access the resources needed for growth,” Tirona added.

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