SeekCap, an online lending marketplace built by UBX, the leading open finance platform in the Philippines, recorded a 50-percent surge in the volume of loans disbursed during the first half of 2023.
As it further strengthened partnerships in the public and private sector to reach more micro, small and medium enterprises (MSMEs) that need access to business loans, SeekCap disbursed a total of P688 million in loans in the first six months of the year.
This represents a 50-percent increase from the P459 million recorded the year prior.
By raising the bar for loan services, SeekCap’s innovative approach to digital financial solutions and its commitment to empowering MSMEs are responsible for its continuing success.
“Traditionally, MSMEs are the most disadvantaged when it comes to financing, because the stringent requirements of banks for loans are geared against them. A big part of our mission towards financial inclusion involves democratizing loans in their favor to create new opportunities for Filipinos everywhere and to contribute to overall economic development,” UBX President and CEO John Januszczak said.