SB Finance, Lazada tie-up to provide sellers with multi-purpose loans

Consumer finance company SB Finance has partnered with e-commerce giant Lazada to provide Filipino Lazada marketplace sellers with multi-purpose loans of up to PHP 500,000 to help grow their businesses and encourage continued economic growth amid the pandemic.

Under the partnership, Lazada micro and official sellers can avail of SB Finance’s multi-purpose loans through a hassle-free application and with a low introductory interest rate of 1.89%. Sellers may avail of up to 12-month payment schemes and can expect funds to be credited to their accounts within 3 banking days.

“When the pandemic hit the Philippines, many small businesses had to pivot, close their physical stores and move to e-commerce channels. With the shift of consumer behavior to online shopping, the demand for e-commerce business expanded. Through our partnership with Lazada, we hope to help sellers gain more access to capital to grow their business and bounce back from the economic effects of the pandemic,” says SB Finance President and CEO, Abbie Casanova.

According to multinational card payment organization Visa Inc., in July 2020, 73% of Filipino consumers are highly likely to sustain or increase their pandemic level of online shopping once restrictions are eased. This gives e-commerce sellers in the Philippines more opportunities to grow their businesses online and enjoy increased profits.

“Through this partnership with SB Finance, we’re happy that we are able to provide our sellers access to multi-purpose loans that help them finance their online business. Our core mission at Lazada is to uplift Filipino MSMEs, helping them grow and scale on the digital space,” says Ray Alimurung, Lazada Philippines CEO.

Lazada’s presence in the Philippines continues to be a strong e-commerce force in the country, with over 100,000 monthly active sellers under its umbrella.

SB Finance is a joint venture between Security Bank Corporation and Thailand’s Bank of Ayudhya (Krungsri). Backed by two financial giants in the Asian region with more than 100 years of financial excellence, SB Finance strives to empower the ordinary Filipino and small business owners to reach their life’s milestones by providing top-notch financial products and services that are tailor-made for the needs of the Philippine market

To know more about SB Finance and Lazada’s partnership and how you can experience low interest rates and easy application processing with SB Finance, you may visit www.sbfinance.com.ph or https://bit.ly/SMPFinance

Search