Security Bank Corp., the sixth-largest lender in terms of assets, has teamed up with Association of the Filipino Franchisers Inc. to provide exclusive loans to its members and their franchisees.
AFFI is an organization that promotes responsible micro, small and medium enterprise businesses in the Philippines.
Under the partnership, AFFI members and Security Bank 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,” bank president and chief executive Alfonso Salcedo, Jr. said in a statement.
“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,” Marie-Joyce Co Yu, AFFI president, said.
Salcedo said the partnership would also 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.
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 said.