First Circle
Non-collateral invoice and purchase-order financing for Filipino SMEs
First Circle is a Philippine SME financing platform best for businesses needing working capital against unpaid invoices or purchase orders without collateral. Its SEA edge is Philippines-specific underwriting with 3-day approval and PHP 25 billion disbursed to over 5,000 SMEs since 2016, plus a free invoicing tool bundled in. Caveat: financing is interest-and-fee based (from 1.39% monthly plus a 1.99% processing fee) rather than free, and coverage is limited to the Philippines.
- ✓No collateral required for invoice or purchase-order financing
- ✓Fast approval (3 business days) and disbursement (2-5 days)
- ✓Track record of PHP 25 billion disbursed to 5,000+ Philippine SMEs
- ✓Free First Circle Invoice tool available even without taking financing
- ×Philippines-only; no coverage for other SEA markets
- ×Financing carries monthly interest plus a separate processing fee
- ×Best suited to businesses with qualifying invoices or purchase orders, not general-purpose loans
- ×Loan terms cap at 6 months, so it is not built for long-term financing needs
About First Circle
First Circle is a Manila-based, SEC-regulated financing company founded in 2016 that provides unsecured invoice financing, purchase-order financing, and revolving business credit lines to Philippine SMEs. It also offers First Circle Invoice, a free invoicing tool for Filipino businesses, and has disbursed roughly PHP 25 billion in financing to more than 5,000 SMEs.
Key Features
Best For
Southeast Asia Fit
Philippine SMEs are frequently underserved by banks that require collateral or lengthy approval cycles; First Circle uses unpaid invoices and purchase orders as the basis for financing, having disbursed around PHP 25 billion to more than 5,000 Filipino SMEs since 2016 with 3-day approval and 2-5 day disbursement.
- Philippines
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Related Analysis & Guides
The questions operators actually ask.
Does First Circle require collateral?
No. First Circle's invoice and purchase-order financing and business credit lines are unsecured, using the invoice or purchase order itself rather than collateral.
How much does First Circle financing cost?
Monthly interest starts at 1.39% plus a fixed 1.99% processing fee on the loan amount, with terms ranging from 15 days to 6 months.
Is First Circle available outside the Philippines?
No. First Circle is a Philippines-only, SEC-regulated financing company serving Filipino SMEs.