Tonik Digital Bank recently updated its Big Loan product, aiming to address a broader range of financial requirements for small businesses in the Philippines. This enhancement is part of Tonik’s efforts to support the growing needs of small and medium enterprises (SMEs) in the region.
The Big Loan from Tonik now provides entrepreneurs with a loan amount of up to five million pesos, featuring flexible repayment options and competitive interest rates. The process of applying for this loan has been streamlined for efficiency. In addition to financial support, Tonik claims that it offers personalised guidance throughout the loan process, facilitated by a dedicated team of experts.
Greg Krasnov
Greg Krasnov, Founder and CEO of Tonik Digital Bank, commented on the initiative, saying,
“By providing SMEs with accessible and flexible financing through the Big Loan, we are not just extending credit; we are unlocking opportunities. At Tonik, we focus our energies into ensuring that every Filipino entrepreneur, regardless of the size of their business, is empowered with the necessary tools and resources they need to thrive to turn their dreams to reality.”
This update comes against the backdrop of a growing digital lending market in the Philippines. The sector, led by digital banking services and fintech firms, is projected to experience substantial growth in the coming years. As the market evolves, offerings like Tonik’s Big Loan are expected to play a role in supporting the financial goals of Filipino entrepreneurs.
Featured image credit: Edited from Tonik
