FundSpace, a loan aggregator under Globe’s 917Ventures, has partnered with Radiowealth Financing Company (RFC), a seasoned non-bank financial institution, to offer new financing options including chattel mortgage and real estate loans to small and medium-sized enterprises (MSMEs).

The joint effort aims to expand access to financial services for underserved local businesses, creating new opportunities for entrepreneurs to secure financing.

Through the partnership, SMEs can now obtain loans offered by RFC through FundSpace, ranging from P300,000 to P5,000,000, with terms from 3 to 36 months and interest rates of 1.92% for Chattel Mortgages and 2.25% for Real Estate Mortgages. Auto and Medical loans are also available.

FundSpace’s platform streamlines the loan application procedure, enabling applicants to conveniently choose their preferred loan and financial partner, for a seamless application experience.

The collaboration comes at a pivotal moment for RFC as it celebrates its 60th anniversary and seeks to expand its offerings in the Philippine financing market.

“Despite our long history, we have only reached a small segment of the market in need of small loan financing, such as tricycle drivers, sari-sari stores, and market vendors. This year, we are aggressively pursuing that,” said Donald Francis Chiong, President and CEO of RFC. “We are very honored and privileged to partner with such a distinguished company [Globe Group], which has an excellent reputation for its nationwide reach.”

RFC specializes in micro-financing, serving the underserved market—a segment often overlooked by the financial world, especially banks. Its goal is to connect with and create more opportunities for underprivileged Filipinos.

Meanwhile, FundSpace works alongside reputable financing institutions such as RFC to present a diverse range of financing options tailored to meet the requirements of various companies, furthering its goal of making capital more accessible to SMEs.

“Our partnership with RFC represents a significant step for FundSpace and the Filipino SME sector. By adding RFC’s loan products to our platform, we aim to boost more business’ growth and foster further financial inclusion,” said Martin Luchangco, FundSpace Entrepreneur-in-Residence.

Eligible applicants, including Filipino citizens above 21 years with at least one year of business operation, can visit https://fundspace.ph/ to begin the application process with RFC.(PR)

TACLOBAN CITY–The Northern Samar provincial government has inked a deal with Korean engineering firms to map out plans to curb floods in the province, the local government announced on Monday.

Under the memorandum of understanding, Kyong-Ho Engineering and Architects Co. and KCleng Co. Ltd. will serve as consultants in carrying out the pre-master plan study for the integrated water resources and flood control management project in Northern Samar.

According to the provincial government, the two Korean firms are reputable companies with vast experience in flood control, urban drainage, sewerage, and septage projects in South Korea and the Philippines.

“The project, which aims to address the persistent issue of flooding in the province, will include the assessment of the existing drainage and flood control infrastructures, a feasibility study of the water flow in rivers, the effect of high tide, the water limit or volume of water in catch basins, and outlets of water, especially during the rainy season,” Northern Samar Governor Edwin Ongchuan said.

The firms will recommend development schemes, such as a drainage master plan, based on the results of the study.

The provincial government said Ongchuan signed the deal on March 14 with Korean firm officials, accompanied by representatives of the Department of Public Works and Highways Unified Project Management Office—Flood Control Management Cluster.

Ongchuan earlier asked for assistance from the national government to help solve the worsening floods in Northern Samar, proposing the integrated water resources and flood control management project as a long-term solution to the problem.

Massive floods in November 2023 affected over 110,000 families in Northern Samar province, destroying more than 300 houses.

The unprecedented 618 millimeters of rainfall in 24 hours, or the equivalent of nearly six weeks’ volume of rainfall in a single day, caused the heavy floods.

(SARWELL Q. MENIANO/PNA)

MAASIN CITY-The long-cherished dream of residents of an upland community in Maasin City to safely cross a river in Barangay San Jose has finally been realized.

“Dihay kausa naglubong mi, naghatod mi og patay sa sementeryo, hapit maanod ang lungon pagtabok namo sa suba kay kusog ang sug,” recalled San Jose Punong Barangay Jay Guinoo.

(There was one time we buried a dead person in the cemetery across the river. With the rampaging waters we had to cross, the strong river current almost swept away the coffin.)
The barangay cemetery lies on the other side of the river, and holding a funeral when it is raining is risky.

The San Jose bridge was formally inaugurated on Friday, March 8, following the blessing and ribbon-cutting ceremony. With the project’s completion, the dangerous moments of burying the dearly departed will be a thing of the past, a scene no longer repeated.

But more than a significant factor for careful, proper handling of the dead, the people living in the vicinities—passing motorists, passengers, and traders—benefit best from the new infrastructure, even during inclement weather when the river gets rough.

Ludivina Orais, a retired teacher, affirmed that the bridge is a big help to the residents in their daily routine, allowing them to move more easily.

“I thank our officials for making this project a reality,” she said.

At the brief inauguration ceremony in the Barangay San Jose gym, District Engineer Manolo Rojas of the Department of Public Works and Highways (DPWH)-Southern Leyte District Engineering Office said as much, stressing that access and connectivity are a big deal for rural folks in the other higher barangays in San Rafael, for example, where he once lived as a child.

“The new bridge served as the alternate road to that of the existing one, which is prone to landslides, and so the flow of goods and delivery of basic government services can pass all the time to other upland barangays,” Rojas said.

Gov. Damian Mercado cited the bridge “as something that all people can make full use of, a big impact project,” while Rep. Luz Mercado referred to it as a “lifeline for better days ahead.”

Several provincial officials, city, and municipal mayors attended the inauguration rites, including former representative and DPWH Secretary Roger Mercado.

Mercado’s leadership fund was the source of the project’s budget, amounting to P49.5 million.

Based on technical details, the San Jose bridge is a three-span Reinforced Concrete Deck Girder (RCDG) design, supported by two abutments standing on a robust pile foundation, with railings for pedestrian safety, and having a length of 162 meters.
(MMP, PIA Southern Leyte)

ORMOC CITY– A former police personnel and his companion were killed in a shootout incident in connection to a buy-bust operation conducted against them by local police here on Sunday (March 17).

Killed were Nollete Rey Pagasartonga who was previously assigned at the police regional headquarters and Shane Carnacite.

Both were listed by the police operatives as high-value targets.

The two, listed as among the region’s high-value targets, were killed in a buy-bust operation along Tigbao- Pulak-St. Fe bypass Road in Brgy. 104 Salvacion in Tacloban City at about 5:20 am.

During the transaction, Pagasartonga handed four sachets containing white crystalline substances suspected to be shabu to an operative acting as buyer in the amount of P20,000.

However, the suspects sensed the approaching police officers who were just around the area to act as security of the operation and were on their way to arrest them.

The two suspects, according to the police, allegedly drew their firearms and fired towards the operating team, leaving them but to defend themselves by firing back hitting the said suspects.

The two suspects, hit on the different parts of their bodies, were immediately brought to Eastern Visayas Medical Center Hospital for immediate medical attention but were pronounced dead on arrival.

Seized from the suspects were suspected shabu weighing 30 grams with a commercial value of P204,000.

The Tacloban City Forensic Unit that conducted crime scene processing recovered at the crime scene 16 pieces fired cartridges of alleged 5.56, one cal. 45 pistol, one piece magazine assembly with five live ammunition .45 Cal, one unit revolver .38 with one fired cartridge and with four pieces of live ammunition.

The bodies of the two suspects were brought to a local funeral parlor before returning their cadavers to their respective families.
(ROBERT DEJON)