Room 2512, 25th Floor, Citiland 10 Tower 1, HV Dela Costa, Makati City
SMEs are operated by small people with big dreams, and we want to create an environment that will support them in making things happen.
The ASEAN region has over 70,000,000 SMEs and a huge chunk of these enterprises face a common problem. Those that deal with bigger companies, even if they’ve already accomplished their job, have to wait for 30-90 days before they receive their payment. For most SMEs, this standard practice is killing their businesses. But what can they do? They have no other option but to wait.
So for SMEs with cashflow problems, they often look for financing options. Unfortunately, most of them could not comply with the requirements of current bank loan offers, which usually require collateral, positive financial statements, and a minimum of 3 years of operations. The system is too backward looking and fails to see the real potential of a business.
This is the reason why we created Acudeen, the first online marketplace for invoice discounting in the Philippines.