IFC Senior Investment Officer Aileen Zarate, IFC Country Manager for the Philippines Jean-Marc Arbogast, DTI Undersecretary Blesila Lantayona, First Circle CEO Patrick Lynch, First Circle Vice President Benedict Carandang

Manila, Philippines—In line with the Department of Trade and Industry’s (DTI) commitment to support small and medium-sized enterprises (SMEs), the International Finance Corporation (IFC) has invested USD 7 million in First Circle, a technology-driven financial solutions provider for SMEs.

Supported by the DTI’s ongoing partnership with First Circle, the investment is set to unlock crucial funding for local SMEs, helping them gain better access to credit and financial services.

From L to R: IFC Senior Investment Officer Aileen Zarate, IFC Country Manager for the Philippines Jean-Marc Arbogast, DTI Undersecretary Blesila Lantayona, First Circle CEO Patrick Lynch, First Circle Vice President Benedict Carandang

First Circle has been pivotal in driving the DTI’s goal to enhance the competitiveness and growth of Filipino SMEs by offering innovative credit systems and business banking solutions. DTI Undersecretary for the Regional Operations Group, Blesila Lantayona, recognized the vital role First Circle plays in the DTI’s broader mission to empower SMEs.

“We welcome this new investment that will expand First Circle’s capacity to serve more SMEs. Our partnership truly reflects the DTI’s dedication to fostering financial inclusion, which is key to ensuring the resilience and competitiveness of our local businesses,” she said.

Since 2016, First Circle has funded over 3,000 Filipino businesses, many of whom are first-time borrowers. These businesses, including those involved in manufacturing, trade, and services, are vital contributors to local economic activity.

By offering these enterprises higher credit limits, flexible repayment options, and competitive unsecured credit solutions, First Circle directly supports the DTI’s mission to foster a stronger and more sustainable SME ecosystem.

Meanwhile, Jean-Marc Arbogast, IFC Country Manager for the Philippines, emphasized the strategic importance of this investment. “With this funding, we are not only supporting First Circle’s growth, but also contributing to the DTI’s objectives to create an inclusive financial landscape for SMEs across the country.”

As part of the Marcos administration’s push for inclusive economic growth under the “Bagong Pilipinas” banner, the DTI remains committed to ensuring that Filipino SMEs have access to innovative financial services and support systems. ♦

Date of Release: 15 October 2025

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