IFC & UBX Partner To Boost MSME Lending

The International Finance Corporation (IFC), a member of the World Bank Group, has joined forces with UBX, a leading open finance platform in the Philippines, to enhance micro, small, and medium-sized enterprise (MSME) lending through SeekCap, UBX’s digital lending platform.

Representatives from the International Finance Corporation (IFC) join UBX President and CEO John Januszczak and the team behind UBX's lending platform, SeekCap, to celebrate their new partnership aimed at boosting MSME lending in the Philippines. | Photo: UBX

This collaboration aims to address the financing gap faced by MSMEs, a key driver of economic growth in the Philippines.

MSMEs play a critical role in the country’s economy, accounting for 99.59% of all business establishments and generating 65.10% of the total employment as of 2022.

Despite their significance, MSMEs often struggle to access affordable financing, with a global SME finance gap of $5.7 trillion. In the Philippines, SeekCap is positioned to bridge this gap by offering hassle-free business loans to MSMEs.

SeekCap's platform allows business owners to explore a wide range of loan products from trusted lenders.

The platform offers loan amounts ranging from Php 30,000 to Php 100 million, with interest rates as low as 2%, and provides non-collateral loans with flexible payment terms. By streamlining the loan application process and minimizing documentation, SeekCap makes financing more accessible for MSMEs nationwide.

The partnership with IFC will further bolster UBX's efforts by leveraging IFC’s global expertise and resources to scale financial services.

As the world’s largest development institution focused on the private sector, IFC provides not only financial resources but also technical expertise and innovative solutions to improve financial infrastructure and foster inclusive growth in emerging markets like the Philippines.

As MSMEs continue to recover from the effects of the pandemic, this partnership between IFC and UBX signifies a crucial step toward creating a more inclusive financial ecosystem.

By providing accessible financing solutions through SeekCap, MSMEs in the Philippines are empowered to thrive, contributing to job creation, economic growth, and poverty alleviation across the country.