Grab Philippines Rolls Out Business Loan Offering for Its Merchantsby Fintech News Philippines May 17, 2022
Grab, through its SEC-licensed lending arm known as Grab Financial Services Philippines, announced that it has launched its new loan service programme for its merchant partners known as Quick Cash.
With Quick Cash’s fast disbursal and easy application process, merchants can easily acquire a business loan that is tailored to their current needs, with no collateral required.
Merchants can apply for financing from PHP 50,000 up to PHP 499,000 with a flexible repayment term from 6 to 12 months.
Those interested will have to confirm their merchant details with Grab with no additional requirements needed, and they will be set to receive their needed capital and financial support in less than 7 days.
With Grab using data acquired from merchants such as their earnings to deduce the best loan amount, the platform is able to personalise loans for each business to ensure they are able to afford their loan safely.
Additionally, daily and automatic micro-deduction are also put in place by the programme to help make repayments more convenient.
“Many of our budding MSME merchant-partners are in need of access to financial solutions – especially in the first few steps of their business which they have worked very hard to bring into fruition, and we are fully-committed to supporting them every step of the way.
Our new loan service program will provide many of our MSME merchant-partners the very push that they need to scale their enterprise and grow their business on the Grab platform,”
said Martha Borja, Head for Grab Financial Philippines.