UnionBank grants credit facility to JuanHand lending app
UnionBank, a multi-awarded financial institution and one of the country’s top banks, has extended a credit facility to Wefund Lending Corp., the operator of fintech lending app JuanHand.
The agreement was signed last Oct. 3 by WeFund President and Chief Executive Officer Francisco “Coco” Mauricio and UnionBank Executive Vice-President Bobby Abastillas.
“We are very honored UnionBank chose WeFund as the first fintech cash loan company to be granted a credit facility,” Mr. Mauricio said. “It not only shows UnionBank’s trust and confidence in our technology and operations but more importantly, it shows UB’s commitment to serve the underserved. It is our privilege to partner with UnionBank to improve financial inclusion in the country.”
JuanHand is a leading online cash loan app duly licensed by the Securities and Exchange Commission and a founding member of Consumer Lending Association of the Philippines.
Since the introduction of WeFund’s JuanHand app in 2019, it has had over 10 million downloads, over 6 million registrations and more than P15 billion in loan disbursements. JuanHand offers between P2,000 to P25,000 credit limit, payable within 30-90 days or 1-3 months. Using just basic borrower information and just 1 valid ID, JuanHand’s best-in-class AI can approve loans in less than five minutes and disburse cash to the borrower’s bank or e-wallet in less than 45 seconds.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld website. For more information, send an email to online@bworldonline.com.
Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.
