The rise of the financial technology industry paved the way for easier loan access, addressing the need for financial inclusion.

Online lending platform JuanHand cater to millions of Filipinos who are credit-worthy but are underserved.

WeFund Lending Corp., owner of the JuanHand app, recently signed a loan channeling agreement with SeaBank Philippines Inc. in which the bank plans to provide a P300-million loan capital to eligible borrowers via the JuanHand app.

SeaBank is a subsidiary of SEA Limited, one of the largest consumer technology companies in Asia.

The agreement was signed last 20 September 2023, by WeFund Lending Corp. president and CEO, Francisco Mauricio and SeaBank executive vice president of operations, Siew Ghee Kung Lim. This marks a milestone as one of the first cross-institution loans channeling financing structures in the country.

Loan in 45 seconds

"We are honored to have been selected by SeaBank Philippines as one of its first loan channeling partners in the country," Francisco Mauricio said. "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."

Since the introduction of JuanHand in 2019, it has had over 10 million downloads, over 6 million registrations and has approved close to 3 million loans.

JuanHand offers loans from P2,000 up to P50,000, payable within 30 to 120 days. JuanHand can approve loans in less than five minutes and can disburse cash to the borrower's bank or e-wallet in less than 45 seconds.