25th August 2017 – Crowdfunding supports the SME industry by providing more forms of financing to address their needs. SeedIn, one of South East Asia’s largest debt-based crowdfunding platforms, follows this path by supporting SME growth efforts by provision of crowdfunding financing.
Iloilo-based Solar Power SME, MyPower Inc., is one such beneficiary from debt-based crowdfunding. They are passionate about contributing to a world which does not depend on the power from fossil fuels, and their aim is to accelerate the adoption of solar technology across the Philippines to preserve the environment and provide a sustainable power supply.
According to Ms. Hedy Ann C. Prado, Corporate Secretary of MyPower Inc., many interested clients who wish to acquire solar systems were hesitant due to the high cost of acquisition of the solar systems and MyPower’s limited financial capacity to offer payment terms. Therefore the company was determined to get proper financing to provide better terms for their customers. That’s when they found SeedIn Philippines.
SeedIn Philippines worked with MyPower to provide financing for the systems they installed, which aided both the buyers and the company. In August 2017, MyPower obtained a crowdfunding loan from SeedIn in a sum of Php 280,000 to support their growing efforts.
L-R: Mr. Edison Tsai (SeedIn Philippines Partner / Executive Director), Mr. Anson Uy (SeedIn Philippines Partner / Executive Director), Mr. Jan Flores (Country Manager/COO, MyPower Inc.), Ms. Hedy Ann C. Prado (Corporate Secretary, MyPower Inc.), Mr. Eddie Lee (SeedIn Group CEO), Mr. Dexter Tiu (SeedIn Philippines Partner / Adviser), Mr. Amos Chen (SeedIn Taiwan Managing Director)
MyPower Inc. COO Jan G. Flores said, “SeedIn Philippines helped SMEs like us in order to have a financing scheme for our clients, along with helping us to get new clients by reducing their strain of cash payments to acquire our Solar systems”. Because of this, today the company enjoys an increase of 20% in their sales and 40% in their lead generation.
This is a proof of how SMEs can benefit from business financing through crowdfunding. SeedIn Philippines Executive Director Mr. Edison Tsai said, “SMEs face a myriad of options when it comes to financing and SeedIn understands that younger enterprises usually have more difficulty seeking working capital as they may not have the track record to seek financing from traditional lenders, such as banks. We are pleased that MyPower has shown encouraging growth and will continue to support SMEs like them to be more bankable in the near future.”
Mr Edison Tsai also said that it is imperative for SeedIn to continue to serve SMEs who are building competitiveness in the market. “SeedIn believes that it is important to identify qualified SMEs who need working capital to maximize their capability and groom their profile. Through crowdfunding, we can build a win-win situation for SMEs and our platform investors.”
SeedIn Philippines is dedicated to helping the SMEs achieve their success. For more information on how your business can benefit through financing, contact us at +632 845 2798 or email us at email@example.com