Micro, small and medium enterprises (MSMEs) need all the help they could get nowadays to get back on track amid the pandemic. Fortunately, they have the “white knight,” Right Choice Finance Corp. (RCF), a wholly owned subsidiary of Singapore-based Right Choice Capital Pte Ltd, to assist them.
RCF founder and managing director James Kodrowski has announced recently in an online news briefing at the opening of their Cebu office that they have allotted up to P1 billion for their MSME loan program.
“Our portfolio size combined across banking and finance activities is over a billion pesos today and in terms of the additional capital that we’ve prepared to deploy in the fourth quarter and beginning of next year, another P500 million to P1 billion in that period,” he said. “We’re looking for the right business to thrive in 2021,” Kodrowski added.
To keep pace with the times, RCF President Roselle Calixihan said the company is using its platform to provide MSME loans through its digital business platform complemented by flexible financing products and an innovative HR software.
She said the Human Resource Information System (HRIS), their latest product offering, is a cloud-based software that allows companies to centralize and streamline their HR administration tasks in an automated experience that reduces manual labor. Moreover, it comes with a cash advance software bundle that let employees apply and receive cash advance easily and quickly.
With its digital banking functionality, Kodrowski said, RCF clients can receive their funds within 24 to 48 hours after submission, evaluation, and approval. Funds disbursement is through the RCF e-wallet that allows users to conveniently manage their funds, pay their bills, and transfer money online.
RCF’s digital platform and e-wallet services also enable them to provide unique investment options and competitive returns to clients.
RCF started its operations in Metro Manila in 2016 and has since expanded in nearby provinces in North and South Luzon. Now, RCF is expanding its reach in Cebu City by offering business solutions to local MSMEs to help them grow.
Kodrowski said RFC decided to establish its presence in Cebu because of its strategic location. He added RFC remains bullish over the province’s business recovery prospects, citing the entrepreneurial spirit of Cebuanos and Cebu’s strategic business location.
He said Cebuano MSME entrepreneurs can avail of customized loan options to survive and even expand during these uncertain times. “RCF is a B2B company. To help Cebu businesses bounce back, we will be here to provide that vital support across all stages of MSME development,” said Kodrowski.
Calixihan pointed out that it is quite important to make business loans available to entrepreneurs to keep them going and growing amid the Covid-19 pandemic.
She said consumers can apply for personal loans to fund their needs for housing, vehicles, education, and other endeavors.
“Our customers have expressed a delightful experience through flexible, fast, and seamless digital loan disbursement,” Kodrowski said.
Calixihan urged Cebuano entrepreneurs to avail of the wide range of smart solutions RCF is offering that is geared towards helping MSMEs.
RCF foresees a boom in Cebu in the near future, Kodrowski said.