Consumer Loans: Hello, [Prospect Name].

I’m [Your Name], and I

work for [Bank Name]. As you may know, consumer loans are a big
part of financial management for many bank clients just like you. We
have several consumer loans available that may allow you to
consolidate debt, pay off your home or car faster or make your
children’s college tuition more affordable. I’d love the chance to tell
you more. Are you available for a brief meeting this Wednesday or
Thursday? [Pause] Wonderful. I look forward to meeting with you at
your home at 5 p.m. Thursday evening. Thank you.

As a commercial banker, I make hundreds of cold-calls per month and I monitor all facets of the call
including gatekeepers, best calling times (AM vs PM), decision-makers reached, number of follow ups,
and reasons for rejection. The last one is the one I am here to talk about. When I initially started writing
this, I figured it was going to have a negative connotation and a “glass half-empty” mentality. However,
as I started writing the rejections down, I quickly began to smile and think of the thoughts I had in my
head when the decision makers said the rejection to me on the phone. Maybe I’m a little twisted but
cold-calling is a numbers game and the more you make, the better you get at being able to fire back at
prospects and their reasons for not wanting to meet. With that being said, I do work in a professional
environment and represent a corporate and professional culture — so some of the comments below
probably should not be said to a prospect in such a direct manner, but I thought by putting a little
comical flavor on my responses will provide the reader a more enjoyable piece to read but more
importantly also remove some of the stigma and intimidation that cold calling may have associated with
it.

Here are my top 10 rejections and I get better at responding to them with each and every cold call that I
make:

1. I pay for everything in cash.

That’s great, but what about when you run out of cash? What is your contingency plan when the
economy turns? Maybe neither of these things are my business, but wouldn’t it be beneficial to discuss
how a bank partner could be there when business needs change? Not to mention, is using cash the best
thing for your business? With interest rates as low as they’ve ever been maybe that money would
provide a better return elsewhere?

2. I’m not interested.

You are not interested in discussing your company’s financial strategy? I am not asking for any
commitments or decisions at this point, simply wanted to come in and learn more about your business
and see if your needs could be met with what my bank could offer. There’s usually a bigger, underlying
reason that they aren’t telling you — because what kind of wacko isn’t interested in their company’s
money?

3. I’m happy with my current bank.

That’s great, and you were probably happy with your bank before this one, but things change. Banks go
through transitions and transformations and it’s not a bad idea to have another bank to compare your
current one to. Additionally, it doesn’t hurt to have a contact at another bank incase your currently
relationship worsens.

4. I’m too busy and don’t have time.

Really Sally? You are telling me you are too busy to look after the financial matters of your business. If
you have enough time to go on social media during the workday (yes, I saw your LinkedIn rant regarding
the election) then you probably should have a few minutes to discuss your company’s cash flow and
capital expenditures for the next 12 months.

5. You aren’t competitive enough.

I appreciate the feedback, but when was the last time you had our bank quote or provide you with any
sort of pricing? If it was not recent, it may not reflect our current rates/structures and at the end of the
day — having a trusted bank partner means more than picking the cheapest bank that gives you a fluffy,
non-committal quote.

6. We just switched banks.

That’s great, but all I’m asking for is to meet and discuss your financial needs, not for you to switch your
bank today. Also, did you consider my bank when you were deciding on whom to work with? Better yet,
did you look at multiple banks to see what the landscape is like out there and get at least 2–3 proposals?
There’s 50 other questions I could ask here but the decision-maker may not give you that much time, so
I’d leave them with this: It’s a good idea to do annual reviews on your banking arrangement, so I’d love
to do that for you when the time comes.

7. I don’t need a bank.

I guess it’s possible — there are a few gems out there that don’t need a bank or may be funded through
private equity, but that doesn’t mean a “bank” cannot add value in other ways. All companies need a
place to keep and grow their money or they may need some ancillary services like Merchant or Payroll
Services, Wealth Management, etc. I may be naïve but I have a hard time believing that a $1.8 trillion in
assets financial institution cannot do something for a business to bring them incremental value.

8. I’m owned by a larger company that manages the banking.

I probably would have found this out already through researching the company, but let’s assume I
missed it. Do you know if the larger company has a banking partner? If so — who could I contact there
to discuss doing a banking review or seeing if they would be interested in meeting to discuss their
strategy for your company and the larger group of companies under their management?

9. Check back with me in 6–12 months.

This is the classic “non-confrontational no” and it’s quite common in areas of the country where there’s
dozens of banks and heavy competition. With this type of response, the customer is hoping you just
forget to call them back in half-a-year. They’ll give this answer to every banker that calls them and they
will probably only get a fraction of the follow-ups (see chart on follow ups here). Insist that it’s
important to meet now and that it will be worthwhile and a good use of time. I would also say that I’d
like to understand what the company has going on in the next 12 months so it would be proactive and
beneficial to meet now and work toward the future.

10. Not now, our company is going through some changes.

This one is tricky, because a customer may not want to say the truth. If the changes are good, then it’s
easy because it makes sense having a bank provide some input into the changes to make sure the
company is positioned from a financial vantage point. However, if the company’s “changes” are because
they are going through hardship, downsizing, restructuring, winding down, etc. then it may truly be a
difficult time for the owner/decision maker to meet. Approach this rejection with caution.
1. The clean loan is a type of a personal loan that bank offers to the citizens without any
security measures. However, two third party persons must guarantee for the applicant. The
salary of each of them must be at least equal to the salary of the applicant. When the
documents are delivered and the loan granted, the user can use the money in any way he
finds suitable. This is a good option for individuals to meet any kind of need, whether it's
urgent or planned.
1. What is a clean loan?
A. A clean loan is a loan where the bank doesn’t take any security measures.

The clean loan is a type of a personal loan that bank offers to the citizens without any security measures.
However, two third party persons must guarantee for the applicant. The salary of each of them must be
at least equal to the salary of the applicant. When the documents are delivered and the loan granted,
the user can use the money in any way he finds suitable. This is a good option for individuals to meet
any kind of need, whether it's urgent or planned.

It is a type of unsecured loan and helps to meet your current financial needs. You don’t need any
security/collateral while availing it. Personal loan gives you the flexibility to use the funds as per your
convenience and need.

Clean loan is the one type of personal loan that offers by the bank to citizens without any
security. when your loan granted the user can use the money in any way he finds suitable.
This is a good option for urgent or planned. The loan period ranges between 36 months
and 60 months.

What Is an Unsecured Loan?

An unsecured loan is a loan that is issued and supported only by the borrower's
creditworthiness, rather than by any type of collateral. Unsecured loans—
sometimes referred to as signature loans or personal loans—are approved
without the use of property or other assets as collateral. The terms of such loans,
including approval and receipt, are therefore most often contingent on the
borrower's credit score. Typically, borrowers must have high credit scores to be
approved for certain unsecured loans. A credit score is a numerical
representation of a borrower's ability to pay back debt and reflects a consumer's
creditworthiness based on their credit history.
2. Business owners should not have a difficult time securing funding, especially to address short-term
capital gaps. Choose a funding solution that offers simple and easy application process; one that is
easier to qualify for. Just make sure your business is operational and has the financial capability to
meet repayment obligations.

You can apply online, in person at a branch, or over the phone. If approved, you can receive
funding is as few as five business days. However, Bank of America publishes the qualification
requirements on their website. Eligible businesses are at least 2 years old, and they need to be
generating $100,000 or more in annual revenues.

3. How long does it take to apply?

Once you have submitted all the required personal information and business documents,
you may proceed to upload your Invoices and Purchase Orders. Our Risk and Credit
Committee will review them within 24 hours. You may expect an update within 3 business
days.

You will receive a loan offer after we verify all your documents. Upon acceptance of our
loan offer, the funds will be credited to your bank account within 2 business days.

Overall, a seamless loan application process with First Circle will take just 5 business
days.

Some instances that might prolong the verification of your requirements is when a
document you uploaded is blurry or not valid. You shall receive notifications for this
instances within 24 hours. Make sure to upload clear photos of valid documents to avoid
any delay.

Bank of America has something called relationship rewards, where you can get a lower rate if you
maintain high balances across your Bank of America accounts.

also come with relationship-based rates for existing customers, and might also
tailor a specific loan program to the financing needs of your business. That
customizability makes Capital One the best bank for business loans if you
already have a relationship with them.
Supporting our customer’s growth
Small and medium enterprises (SMEs) exist in a pre-internet economic ecosystem. This is true for their
interaction with trading partners and financial institutions. Both require enormous manual
administration and have unpredictable outcomes. This inhibits their growth and development which
have a great opportunity as the economy expands.

At First Circle, we believe that strong businesses deserve to succeed based on the merit they possess,
instead of the resources that they currently have. We believe that you deserve honesty, transparency,
and convenience. This is best served through a mobile or web-only experience with support from
dedicated Relationship Managers to take care of your needs every step of the way.

Small businesses are the life-blood of the economy. With the right resources and support, they can drive
the nation’s development and improve the livelihoods of millions of people.

This culture of supporting our customer’s growth is at the heart of everything we do. This is what gets us
excited about coming to work every day.

A FinTech company financing your business possibilities, First Circle was founded by Patrick Lynch and
Tony Ennis to empower Small and Medium Enterprises (SMEs) in growth markets by financing their
business-to-business (B2B) trade transactions. Thus helping them grow by providing convenient access
to financial services. First Circle believes that strong businesses should have access to capital based on
meritocracy; not hindered by insufficiencies of collateral or the mere relationships and connections one
may have.

Since our public launch in 2016, we have significantly grown our customer base. Led by a team of ex-
Morgan Stanley, Goldman Sachs, McKinsey, Amazon, and Web Summit management members with
experience in technology, financial services, and e-commerce, we are currently providing SMEs from
various industries with millions of dollars worth of financing. This is a clear confirmation of the trust we
have earned from businesses nationwide.

At First Circle, we are proud of our international culture with over 10 nationalities working together -
each motivated by the company’s purpose. Our investors have previously supported world-leading
technology companies, like Uber and PayPal; and our Advisors sit on the Board of the biggest FinTech
companies around the world.

As we are looking forward to the future with financial optimism, we gear toward partnering and
empowering more and more SMEs in the Philippines - and soon the rest of Southeast Asia.

Trusted by the Philippine government, First Circle is an official finance partner of the Department of
Trade and Industry (DTI). We are also one of the first FinTech companies to be licensed by the Securities
and Exchange Commission (SEC) in the Philippines.

How do I apply for financing from First Circle?

Application is completely free of charge and is done online. All you have to do is just submit your
personal and business information. Once your details are verified, upload your Invoice and Purchase
Orders. Visit our Process & Requirements page for more information.

Disclaimer on Application Fees:

All authorised personnel of First Circle will never ask for any monetary benefit to process your loan
applications. Our loan approval criteria is based solely on our credit scoring process. We do not charge
any fees prior to the actual loan approval.

First Circle does not conduct any cash transactions. Processing fees that we may charge are always
settled through your First Circle Account (FCA).

Is everything done online?

Yes, the whole application process is done online. Say goodbye to filling out actual forms as well as to
lining up for hours at a physical branch. We make business financing convenient and easy for SMEs like
you.

Is refinancing available to existing clients?

Yes, a majority of our clients regularly refinance with us. Clients who are eligible for refinancing are
those who have been able to maintain good credit standing.

What are the requirements?

The list of required documents are listed down in the Process & Requirements page. We serve two
different categories: sole proprietors registered under DTI, and partnerships or corporations registered
under the SEC. There are different sets of requirements for each.

What are the advantages of short term funding?

Faster application

The application process for short-term loans is less time consuming.

Quick access to capital

Funding is released quickly so you can use the cash to bridge cash flow gaps.

Fewer requirements

Less documents will be required, making short-term funding easy to qualify for.

Why Finance with First Circle?

Because you wouldn’t have it any other way. We’ve all been there before. Long lines at the bank or loan
sharks with cut-throat interest rates. No one wants to be in this situation anymore.

First Circle’s financing services are made especially for business owners who receive purchase orders
and issue invoices. These are small and medium enterprises who encounter increased demand in the
form of large orders, the need to pay suppliers in cash, or extend credit to customers.

All these scenarios cause cash flow gaps that may limit the potential for growth of your business. First
Circle is here to help business owners get access to quick funding when they find themselves in such
situations.

Our Mission

To expand business opportunity by empowering SMEs in growth markets with financial services.
Our Vision

Our vision is to create a meritocracy for SME financial services in Southeast Asia growth markets.

This lending company targets entrepreneurs and small to medium business owners. The
Philippines has over a million registered businesses today, 99.6% of which are considered as
SMEs and not all of them have access to financial institutions that will grant them enough
funding for their businesses.

Esquire targets this market and they proudly advocate entrepreneurism among small and medium
enterprise (SME) owners. This financial company makes funding easier to access for SME owners.

RFC is one of the longest-running private finance/lending company in the Philippines. The
company was established in 1964 and they pioneered (non-bank) offering car and appliance
loans to Filipinos.

Today they have 100 branches all over the country offering a variety of loan options to Filipinos
including business loans.

This financial services provider is among the well-established private lending companies in the
country. They have more comprehensive loan products that cater to a wider demographic and
more varied financial needs of Filipinos. They have many branches across the country and one
can also choose to do a walk-in application in their branches.

Global Dominion offers a much wider variety of loan products tailored to the general public and
individuals from different professions.

First circle is not your typical online lending company. They’re the first to have branded
themselves as a fintech company that provide financing opportunities to business entities. The
main marjket of their serivices are Small and Medium Enterprises, helping them grow with
convenient access to financial services.
BPI’s flexible loan packages are designed to cater to your business needs. Corporate clients can take
advantage of BPI’s attractive interest rates and our dedicated team of corporate banking relationship
managers.

We are committed to making the entire business loan disbursement process easy for the small business
owners in order to help them focus on their core business and worry less about how to easily to avail
finances to run a business easily.

We understand that most small businesses cannot offer collateral or security in terms of an asset to
avail a collateral business loan from traditional lending institutions, such as banks. Therefore, we offer
unsecured business loans to small business owners at attractive interest rates and with easy terms and
conditions. Our business loan disbursement process is very simple and we disburse business loan within
a few days after you sign a contract with us.

Quick & Easy Business Loan Provider in India

A business loan is in great demand these days as it is one of the most feasible ways to get extra finances
for the business. A small business loan can be used for various purposes, from buying or upgrading
equipment and machinery to expand operations to increase working capital. A lot of lending institutions
are offering easy and affordable secured and unsecured working capital loans. However, one thing that
always surrounds the business loan is the long business loan disbursement process.

But it is not the case with ZipLoan. Our business loan disbursement process is very simple and quick and
we disburse business loan in your bank account within a few days after you sign a contract with us. So
far, we have disbursed business loan of up to INR 5 Lakhs to clothing business, courier companies,
electronics companies, product manufacturing companies, etc.

ZipLoan Business Loan Disbursement Process Flow

ZipLoan has simplified and shortened the whole business loan applying process for the convenience of
the small business owners. Our business loan disbursement process mainly consists of 5 simple steps:

Online Business Loan Application: Apply for a business loan online on our website or through our App,
Connect. Duly fill the application form with the correct information and submit. Our representative will
process your business loan application form within a few hours.
Business Loan Document Submission: After applying for a business loan, submit the soft copies of all the
required documents on our website or App. We require a minimal list of documents, ensuring that the
overall business loan application process is easy for you.

Credential Check: After you apply for a business loan, we check your eligibility and credentials. We do
not depend on CIBIL score for the approval and SME loan disbursement. Instead, we have our own
holistic credit evaluation process called ZipScore.

Paper Work: If your business loan application is approved, the next step is to sign a contract. We offer
business loan at very competitive interest rates.

4. Business Loan Disbursement: After the paperwork, we disburse the small business loan within a
few days. You can easily repay the business loan through monthly installments. Also, you can repay
the business loan before the tenure, we don’t charge any fees or penalty on foreclosure after the
payment of 6 EMIs.

Business Financing for Entrepreneurs

At Esquire Financing Inc., we recognize the significant role of small and medium enterprises (SMEs) in
propelling the Philippine economy forward and making it one of the most vibrant in Southeast Asia. Our
goal is to help the small and medium-sized business owners optimize their potential and achieve major
growth through alternative sources of funding. Our advocacy is providing fast, hassle-free, and non-
collateral business loans tailor fit to each entrepreneur’s needs, goals, and cash flows.

Since 2011, we’ve assisted more than 5,000 entrepreneurs – fueling their dreams of business growth
through our loans. Our fulfillment lies in the fact that we are part of a bigger ecosystem: a trusted
financing partner that helps Filipino entrepreneurs grow their business and at the same time, generate
employment.

Our3-step business loan does not require any collateral, has minimal application requirements and
flexible and comfortable payment terms. What sets us apart is that our loan decisions are given within 7
business days, or less! This efficient and simple process is essential in understanding our clients and
helping SMEs grow. Whatever your reasons are for availing a business loan, our SME business loan will
fuel your dreams.
There is nothing more satisfying to us than watching our clients grow. Esquire Financing Inc. is here to
help. At EFI, our business is your success.

Frequently Asked Questions

How do I apply for a loan?

There are 2 ways:

1. You maydownloadthe application form on this site, fill out the relevant fields, and submit it along with
the necessary requirements to our main office.

2. You may request us to assign a Loan Specialist to assist you through the application process by filling
out ouronline formor by calling 8811.8888.

What are the key conditions for a business loan?

Your business should have been operational for a minimum of one (1) year and you should have a
checking account (CA) that has been active for at least six (6) months. See required documentshere.

Is it possible to take out a loan without a checking account?

We only entertain clients who have an existing checking account because we receive our clients’ loan
payments through post-dated checks (PDCs).

How long will it take for my application to be processed?

Processing takes up to 7 business days from the receipt of complete application documents.

How do I find out if my business loan application has been approved?

You will receive an email on the result of your application. In addition to that, an EFI Officer will contact
you as soon as it has been approved!

How do I pay for my amortization?

Payment is done through submission of post-dated checks (PDCs) upon the release of the loan.

Can I take out a personal loan?

We are dedicated to helping local enterprises grow. As such, our business model and processes have not
been developed to support personal loans.

What is your interest rate?

The interest rate is subject to the approval of the credit committee. The rate may vary depending on the
loan amount as well as term length. We welcome interested applicants to submit an application and to
sit down with us to discuss this further.

Awards and Accolades

Esquire Financing Inc. was recognized during 2013 National Product Quality Excellence Awards as the
Best Financing Company in the Philippines. We have been awarded to the prestigious Association of
Development Financing Institutions in Asia and the Pacific (ADFIAP) Plaque of Merit for our outstanding
contribution to SME development. It was awarded on April 2012 at Instanbul, Turkey.

We were also acknowledged during the Philippine SME Business Expo for three consecutive years (2013,
2014, 2015) for our outstanding contributions, dedication, and continuous support to small and medium
enterprises in the country.

EFI is a direct response to the need of the underserved sector, we aim to make business loans accessible
and convenient.

Our core advantage is providing non-collateral business loans in a timely manner based on cash flow
analysis. We offer loan amounts between PHP 100,000 to PHP 10,000,000.

Our Advocacy

We recognize the difficulty entrepreneurs face when acquiring loans and saw the potential opportunity
for a business that could be dedicated to helping local enterprises grow.

We took the time to understand what business owners really needed from a financing partner and this
became the foundation of how we crafted our loan features: fast, hassle-free, and non-collateral.
Ultimately, by advocating for SME growth through financing, we are helping in the advancement of a
sector that can make the Philippine economy a driving force in Southeast Asia.

Our Company Cornerstones

Vision

To be a global leader in growth stage financing.

Mission
FUELING DREAMS of entrepreneurs by providing financial support and business advisory services to
achieve success.

FUELING DREAMS of our team by fostering a family culture that empowers and inspires career growth.