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June 24, 2024

UNO Digital Bank and 1Sari Financing collaborate to offer loans to small stores

Digital bank UNO Digital Bank Inc. has announced a partnership with 1Sari Financing Corp. to provide a lending facility targeting around 1.3 million community retail stores in the Philippines.

The collaboration aims to offer loans to small enterprises that make up the country’s sachet economy and struggle to find sources of capital for growth.

UNO Digital Bank plans to provide general-purpose loans, inventory financing loans, and working capital loans, with a focus on inventory financing through this deal.

The partnership aims to increase loan access and financial empowerment for Filipinos, as informal credit still prevails due to stringent requirements and processes in formal financial institutions.