TO enable small and medium-sized enterprises in the country to grow rapidly, financial institutions should focus on removing capital constraints and charging zero interest to Filipino entrepreneurs, an official of a financial technology (fintech) company said.

Speaking at the recent Davao City Chamber of Commerce and Industry Inc.'s 6th General Membership Meeting dubbed "Boundless Opportunities Through Foreign Linkages," Marcus Erlano, head of Customer Success and Support at First Circle Growth Finance Corp., identified some of the major challenges that slow down the growth of SMEs in the Philippines. Among these are high-interest financing, limited access to financing and transactional deals with no long-term partnership.

Marcus Erlano, head of Customer Success and Support
Marcus Erlano, head of Customer Success and Support


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