Security Bank Corporation (SBC) announced its partnership with the Association of the Filipino Franchisers Inc. (AFFI), an organization which promotes responsible micro, small and medium enterprise (MSME) businesses in the Philippines, to provide exclusive loan offerings to AFFI members and their franchisees.
AFFI members and SBC customers can avail of discounted loan rates and waived fees to help them venture into franchising and grow their businesses.
“We believe in financing the future for the growth of our economy. The success of the future lies in supporting local businesses including franchisers who make up a huge part of the Philippine entrepreneurial space,” said SBC President & CEO Alfonso L. Salcedo, Jr.
“There are a lot of local aspiring entrepreneurs who are hindered in pursuing their dreams due to lack of available capital. With our exclusive partnership, we are now able to help these entrepreneurs jumpstart or even grow their businesses,” said Marie-Joyce Co Yu, AFFI President and Franchiser of True Blends.
“This partnership will open more business opportunities not just for our company-owned franchise businesses but also for our Franchisees. We are excited to share with our Franchisees this partnership as this will pave the way for faster expansion and acquisition of additional outlets,” said John Chung, former AFFI President and Franchisor of Acquasuisse.
Security Bank added that the partnership will help increase local franchisees and create a more competitive market. Businesses that will utilize the loan facility can also access DigiBanker, the Bank’s secured online cash management solution that can help efficiently manage a business’ cash flows and payments.
“More than opportunities for capital sourcing, Security Bank will enable our operations in terms of their DigiBanker solutions. This will save us a lot of money and we can focus more on expanding our business,” Willen Ma, President of Masuki Restaurant and AFFI Treasurer said during the partnership ceremony.
Through the partnership, Security Bank clients can also attend major AFFI events for the entire duration of the contract, opening a wide array of franchising opportunities for them.
“AFFI and Security Bank actually share similar goals. AFFI is committed to promoting responsible micro, small, medium enterprises through franchising while Security Bank’s trademark service of BetterBanking strongly supports the thriving SME industry in the Philippines,” Salcedo added.
In 2017, Asiamoney recognized Security Bank as the “Best Bank for SMEs in the Philippines” for its proactive efforts in supporting small scale and home-grown enterprises. More recently, the Bank won multiple awards in retail banking, headlined by the “Best Retail Bank in the Philippines” award from The Asian Banker and “Best Bank in the Philippines” award from Global Finance.