MANILA, PHILIPPINES — While setting up a new business is a big achievement for many, the whole journey is never easy. A major struggle starting a business is running into unexpected cash flow issues, which generally for small businesses only gets harder given limited access to traditional financing.
This is all about to change for small businesses as everyday superapp Grab, through its lending arm, Grab Financial Services Philippines, Inc., an SEC-licensed financing company, doubles down on its efforts to pave the way for financial inclusion for all Filipinos, especially for its merchant-partners, through its new loan service program 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, and a flexible repayment term from 6 to 12 months.
Grab’s merchant-friendly, merchant-first program
Designed to enable merchants to scale their businesses and aid in their everyday livelihoods and needs, Quick Cash makes availing loans as hassle-free as possible. Whereas loan service programs have historically required tedious efforts in acquiring capital, Quick Cash aims to shorten the process to make everything easier.
Interested merchants will only have to confirm their merchant details with Grab with no additional requirements needed, and they are already all set to receive their needed capital and financial support – all in less than 7 days.
Quick Cash also aims to make loans more accessible and affordable. With Grab using data acquired from merchants such as their earnings to deduce the best loan amount, the platform is able to personalize loans for each business to ensure they are able to afford their loan safely.
Just as well, daily and automatic micro-deduction are also put in place by the program to help make repayments more convenient and hassle-free.
Grab as a forerunner in financial inclusion
Quick Cash stands as one of Grab’s many ways of extending financial inclusion and service to its large community, especially towards its merchant-partners who help make Grab the superapp it is today. With the new loan service program, Grab hopes to provide merchant-partners much-needed access to digital-first financial solutions, and help further scale their businesses.
“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,” says Martha Borja, Head for Grab Financial Philippines.
Wholly committed to supporting its merchant-partners, Quick Cash is one of the many programs Grab has in place, this time to support them with innovative financial services and be with them every step of the way in making their business grow.
Interested merchant-partners may view more details about Quick Cash through https://www.grab.com/ph/merchant/finance/hub/products/ to keep up-to-date on the latest offerings by GrabFinance.