First Standard Celebrates 30 Years of Empowering Filipino Entrepreneurs

Bacolod, the City of Smiles, became the sentimental host of a momentous celebration as First Standard Finance Corporation marked its 30th anniversary where it all began. The financing company, which has become a pioneer in the industry, honored its mission of “Three Decades of Uplifting People’s Lives,” showcasing its strong ties to entrepreneurship and the economy.

Led by the visionary President, Jacqueline Tan-Sainz, the event brought together First Standard’s nationwide leadership team and long-standing client partners to reminisce about the company’s extraordinary journey over the past 30 years.

Tan-Sainz said in her speech, “Pearls are a fitting metaphor for First Standard’s three-decade journey. First, our success is a result of years of hard work and dedication. Second, like pearls formed from sea dust, we see ourselves as catalysts for transformation in the industry. Third, we value trust as the ‘pearl’ of our business.”

To symbolize how First Standard has positively impacted its clients over the years, the event showcased the inspiring story of Edwin and Edna Avanzado, a husband-and-wife tandem. Starting as a diligent mechanic, Edwin is now a successful owner of a truck fleet business in Cagayan de Oro.

Expressing his gratitude, Edwin said, “We are immensely thankful to First Standard for the trust they bestowed upon us, enabling us to rise above poverty.”

The event also highlighted First Standard’s recent awards from prestigious industry organizations. The company was included in the Philippines’ Growth Champions list for 2023, compiled by Statista and the Philippine Daily Inquirer. First Standard also received the Global Banking & Finance Awards from the United Kingdom twice, for Best Business Funding Company and Best Mortgage Financing Company in the Philippines in 2020 and 2022.

Underscoring the essence of the anniversary celebration, Tan-Sainz emphasized the unique privilege of First Standard’s position in an industry that thrives on the success of its clients. She stated, “We don’t merely engage in transactions; we foster transformative partnerships for the long haul. We firmly believe that our clients’ achievements are a testament to our own success.”

A Beacon of Opportunity in the Philippine Economy

Despite the challenges brought by the pandemic, First Standard has shown resilience and adaptability, becoming a key player in helping entrepreneurs and boosting the economy. With its ambitious goal of growing by 20-30% this year, the company plans to reach more customers and provide more innovative products and services that suit their needs and goals.

First Standard’s strong performance in the first half of 2023 shows that businesses in the Philippines are recovering. “With the loosening of borders, there are a lot of entrepreneurs who are willing to take risks again. During the pandemic, people were afraid of risk. They want to be safe, they want to survive. This year, people are really starting to go out and start new businesses again. That’s where we come in to cater to them,” Tan-Sainz said.

Data from the company shows a steady growth trend, with revenues increasing from P418.06 million in 2018 to P503.56 million in 2021.

Looking ahead, First Standard aims to expand its presence beyond the Visayas region, where it already has a strong base. The company wants to open more branches in Luzon and western Mindanao, aiming to have 100 branches nationwide—a sign of its commitment to reaching more Filipino entrepreneurs.

While the reopening of the economy has created opportunities, it has also increased competition in the financing industry. With more competitors fighting for market share, First Standard knows that it needs to stay agile and innovative to remain on top. However, Tan-Sainz expressed confidence in the company’s main competitive edge—customized business solutions that match the specific needs of their customers. This approach aligns with their mission to uplift Filipino lives and build lasting relationships with their customers.

Starting as a small lending company in Bacolod, First Standard has grown to have over 80 branches across the country. With a team of 700 committed employees, the company offers customized financial solutions through collateralized lending and financing products.