Shopping over the Internet has become the new normal for Filipinos as social distancing and quarantine restrictions made mobility restricted. Many regard this as an exciting golden age for eCommerce in the Philippines.
Micro, Small, and Medium-sized Enterprises (MSMEs) finally have instant access to sell their products and services via online shopping platforms such as Lazada. As MSME quickly expand their Lazada business, they face new financial challenges.
UBX, the fintech spinoff of UnionBank of the Philippines, has partnered with Lazada to integrate its SeekCap lending platform into the Lazada merchant experience to enable online sellers to meet the new financial challenges head-on. Lenders on the platform are now offering products specifically for eCommerce sellers. SeekCap offers Lazada sellers legitimate sources of credit, as high as PHP1M with instant approvals and without the inconveniences of a traditional loan application. To reach even more MSMEs, UBX and LAZADA continue to enhance SeekCap to make it even more accessible to LAZADA sellers. To date, UBX has processed over half a billion peso’s worth of loan applications for MSMEs.
This partnership with LAZADA is another avenue for UBX and SeekCap to further enable and empower online businesses and MSMEs. For one, MSMEs represent over 99% of registered businesses in the country. Together, UBX and Lazada will sustain growth in this vital segment.
SeekCap is a unique digital lending platform and is regarded as the best online financing platform to get business loans for small and medium businesses in the Philippines to date. Know more about this loan product exclusive to Lazada sellers by visiting http://bit.ly/LazadaSellerLoan now.