Social distancing and quarantine restrictions have pushed Filipino shoppers to the internet for most of their daily purchases. This is an exciting golden age for e-commerce in the Philippines. It is “IN” to be “ON”! Micro, small, and medium sized enterprises (MSMEs) have instant access to sell their products and services to virtual shoppers via online shopping platforms such as Lazada. As their Lazada business quickly expands, they face new financial challenges.
To enable Lazada vendors to meet this challenge head on, UBX – the fintech spinoff of Unionbank – has partnered with Lazada to integrate its SeekCap lending platform into the Lazada merchant experience. SeekCap is a unique digital lending platform. Lenders on the platform are now offering products specifically for eCommerce sellers. SeekCap offers Lazada sellers legitimate sources of credit, as high as one million pesos with instant approvals and without the inconveniences of a traditional loan application. To reach even more MSMEs, UBX and LAZADA continue to enhance SeekCap to make it even more accessible to LAZADA sellers. To date, UBX has processed over half a billion peso’s worth of loan applications for MSMEs.
The partnership with LAZADA is another way for UBX and SeekCap to further enable and power online businesses and MSMEs, which represent over 99% of registered businesses. Together, UBX and Lazada will sustain growth in this vital segment.
Visit http://bit.ly/LazadaSellerLoan to know more about this loan product exclusive to Lazada sellers.
