First Standard Finance Corporation (formerly First Standard Lending Corporation) was organized and registered with the Securities and Exchange Commission under SEC Reg. No. AS093-04331 on June 7, 1993. However, in compliance with SEC memorandum circular No. 13, Series of 2001, the corporation applied for conversion to a finance company. The conversion was approved and a Certificate of Authority to operate as finance company was issued by SEC to head office and branches on December 16, 2005.
The primary purpose of the corporation, as amended, is to extend credit facilities to consumers and to industrial, commercial, or agricultural enterprises, by direct lending or by discounting or factoring commercial papers or accounts receivable, or by buying and selling contracts, leases, chattel mortgages, or other evidence of indebtness, or by financial leasing of movable, as well, as immovable property. At present, the company is engaged in direct lending.