The rise of the financial technology (fintech) industry paved the way to easier financial access, addressing the need for financial inclusion. JuanHand, a leading online lending platform licensed by the Securities and Exchange Commission, continues to blaze the trail in serving millions of Filipinos who are credit-worthy yet underserved.
WeFund Lending Corp., owner of the JuanHand app, signed a loan channeling agreement with SeaBank Philippines Inc. (A Rural Bank) to give more financial access to those who need it the most.
SeaBank plans to provide around P300 million of loan capital to eligible borrowers via the JuanHand app. SeaBank is a duly licensed rural bank by the BSP and is a subsidiary of SEA Limited, one of the largest consumer tech companies in Asia.
WeFund Lending Corp. president and chief executive Francisco Mauricio and SeaBank executive vice president of operations Siew Ghee Kung Lim signed the agreement on Sept. 20, 2023.
This marks a milestone as one of the first cross-institution loans channeling financing structures in the country.
“We are honored to have been selected by SeaBank Philippines as its one of its first loan channeling partners in the country. With this partnership, JuanHand will sustain its momentum as the premier fintech loan app providing the easiest way for Filipinos to access cash, leading to a much better financial well-being,” said Mauricio.
JuanHand had over 10 million downloads, over 6 million registrations and approved close to 3 million loans since it was introduced in 2019. JuanHand offers loans from P2,000 to P50,000, payable within 30 to 120 days.
It can approve loans in less than 5 minutes and can disburse cash to the borrower’s bank or e-wallet in less than 45 seconds. JuanHand is a leading fintech platform known among its loyal customers as an easy-to-use app with a friendly and always available customer service team.
It said with partners like SeaBank, JuanHand continues to fulfill its mission of providing financial empowerment to every Juan.
