Industry

You Can Now Borrow Up to P2 Million Through Grab

Loan through your phone.
IMAGE UNSPLASH/PIXABAY
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When Grab set out to be the region’s all-in-one super app, they meant business. What was once a ride-hailing platform has grown to include everything from food and parcel delivery, e-wallet, shopping, even insurance and hotel bookings. 

Most recently, Grab Philippines forged an alliance with Security Bank Corp’s consumer finance arm SB Finance Corp. to offer personal loans to its users, drivers, and merchants. Through the partnership, Grab users can directly apply for loans of up to P2 million, with payment terms of up to 36 months. Grab says the application process is purely online and applicants can expect funds to be released within five days.  

“Our strategic partnership with Grab Philippines aims to assist Filipinos by conveniently extending personal loans for their needs. We’re optimistic that Grab users and driver-, delivery- and merchant-partners will be able to experience a holistic digital lending experience as we navigate the new normal,” says SB Finance president and CEO Abbie Casanova.

“Since its inception, Grab has striven to provide value to consumers and stakeholders and empower them by leveraging our technology and offering our suite of reliable and convenient products and services,” says Erwin Yamsuan, Head of Grab Financial Services in the Philippines. “The partnership with SB Finance will give our users more access to much-needed financing which they can use to pursue business plans, do home improvement, or pay for health emergencies, among other needs. We hope that through these loans, consumers can sustain or improve their quality of life, especially during this pandemic.” 

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Grab’s Financial Group already offers several financial products to its driver-, delivery- and merchant-partners, including offline and online loans, purchase financing, and postpaid fuel cards for driver-partners. Merchants can also apply for working capital loans. 

For consumers, Grab has a PayLater service that allows consumers to pay for Grab services a month later, in one monthly bill. 

To know more about the SB Finance and Grab PH partnership or how you can enjoy low interest rates and easy application processing with SB Finance, visit www.sbfinance.com.ph or www.facebook.com/SBFinancePH.

 

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Paul John Caña
Associate Editor, Esquire Philippines
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