JuanHand and SeaBank Work Together to Create a New Way to Financing Loans in the Philippines
JuanHand, a top online lending platform duly licensed by the Securities and Exchange Commission, is leading the way in making it easier for people to get financial inclusion in the rapidly growing FinTech industry. The company continues to help the millions of Filipinos who have good credit standing but don't get enough help.
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| JuanHand and SeaBank Work Together to Create a New Way to Financing Loans in the Philippines |
WeFund Lending Corp., which is JuanHand's owner, just signed a groundbreaking loan channeling deal with SeaBank Philippines Inc. (A Rural Bank). The goal of this strategic union is to make it easier for people who need money to get it. SeaBank has agreed to lend about 300 million pesos to people who qualify through the JuanHand app. SeaBank, a rural bank backed by the BSP and a branch of SEA Limited, one of Asia's biggest consumer tech companies, is happy about this relationship.
Francisco Mauricio, President and CEO of WeFund Lending Corp., and Siew Ghee Kung Lim, EVP Executive Vice President of Operations and Philippines Country Manager for SeaBank, signed the important deal on September 20, 2023. This partnership is a major turning point in the country's cross-institution loan channeling financial framework.
Francisco Mauricio was happy that SeaBank Philippines had chosen him to be one of its first loan-routing partners in the country. He said, "This alliance ensures that JuanHand will continue to be the preferred FinTech loan app for Filipinos, significantly enhancing their financial well-being."
Since it first came out in 2019, JuanHand has had over 10 million downloads, 6 million users signed up, and close to 3 million loans accepted. The app lets people borrow money from as little as Php2,000 and as much as Php50,000, with repayment terms that can be anywhere from 30 to 120 days. It says it can approve loans in less than 5 minutes and send the money to the borrower's bank account or e-wallet in less than 45 seconds. With an easy-to-use interface and a customer service team that's always available, JuanHand stays true to its goal of giving every Juan financial independence, with the help of partners like SeaBank.
