The pandemic has taken its greatest toll on micro- to small and medium-sized enterprises (MSMEs) which comprise 99.5% of all business in the Philippines, according to the Department of Trade and Industry. Their businesses suffered and yet they still have a lot of overhead to cover. As we all know, seeking a credit source from the big financial institutions can be a huge challenge for MSMEs.
A recent partnership between UBX Seekcap, the Philippines’s first same-day approval lending marketplace, and Radiowealth Finance, a leading financial services provider, aims to address this difficulty by offering business loans for working capital, franchising, machinery and heavy equipment, and business expansion.
Through its partnership with SeekCap, Filipino businesses can easily apply for a Radiowealth business loan online, with loan amounts ranging from PhP 50,000 to as high as PhP 5,000,000 payable up to 12 months. A sari-sari store would find it so much easier to make a loan since a loan application only requires a valid government ID, proof of business registration (barangay or mayor’s permit), and proof of income (sales receipts or sales logbook).
About SEEKCAP – SeekCap, the nation’s first online lending marketplace, is one of the ventures of UBX. UBX is the financial technology venture studio and fund of Union Bank of the Philippines. UBX is predicated on a future where financial services are invisible: seamlessly embedded into the experiences and activities that truly matter to businesses and people. SeekCap is short for “seeking capital” and also a play on the Filipino word sikap, which means diligent, disciplined, and hardworking, a trait that has always characterized successful small business owners.
Visit https://bit.ly/SeekCaplendingmarketplace for more information or please contact support@seekcap.ph.