SB Finance, an affiliate of Security Bank, will provide loans for the purchase of electric tricycles (E-Trikes) as part of the financing institution’s thrust for sustainability.
It has partnered with Cost Plus Inc., a leading distributor of electric vehicles, to offer MotorsikLOAN financing for electric tricycles (E-Trikes) as part of the Kidlat Electric Vehicles program.
The partnership is designed to directly benefit Tricycle Operators and Drivers’ Associations (TODA) in Quezon City, Laguna and Rizal by offering affordable financing options to help them transition to sustainable, cost-efficient transportation.
The collaboration between SB Finance and Cost Plus Inc. brings accessible financing to TODA members, enabling them to upgrade to electric tricycles that offer reduced fuel costs and lower maintenance expenses.
This shift will not only improve their daily income but also help them embrace a greener, more sustainable mode of transportation.
“At SB Finance, we aim to make our financial products not only provide immediate value but also contribute to long-term economic and environmental benefits.”
“MotorsikLOAN is a key enabler for TODA members to modernize their operations while supporting the country’s push for sustainability,” Abbie Dans-Casanova, CEO of SB Finance, said.
“This partnership will provide tricycle drivers with a chance to improve their livelihoods, reduce operational costs and help transition the Philippines to a greener future.”
Payments long term
With MotorsikLOAN, TODA members will benefit from long-term payment options available at over 100 Cost Plus Inc. branches nationwide.
“By joining forces with SB Finance, we are providing TODA members with the tools they need to secure better incomes and more reliable vehicles. Electric tricycles are not just a solution for today — they’re the future of sustainable transport in the Philippines. We are proud to be part of an initiative that directly benefits drivers while also advancing our nation’s environmental goals,” Anand Mahtani, president of Cost Plus Inc., shared.