UBX partners with Lazada to aid online businesses amid COVID-19
Most businesses today are battling the waves to stay alive and their only sensible solution is to take out a loan. Even e-commerce is not saved from this catastrophe. Seeing how these businesses are struggling to survive on limited resources, Lazada and Union Bank of the Philippines’ fintech subsidiary UBX, through its lending marketplace, SeekCap, have partnered together to help more MSMEs get access to financing. To date, over 6,000 MSMEs have signed up, with a 300% increase in loans application posted during the first quarter. Online lending marketplaces, like SeekCap, have become game-changers for most micro, small and medium enterprises (MSMEs). Gone are the days when they had no choice but to undergo manual loan processes and spend ample time collating the required paperwork. SeekCap took the opportunity to lift that burden off their shoulders by narrowing down the loan application process to the simplest and most convenient way possible. Through SeekCap, applying for a loa
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