Lending firm expands reach with installment loan offers

CEBU, Philippines — UnaCash, a financial solutions provider offering service through both in-app and in-store platforms, has announced the introduction of its latest installment loan services. These services provide customers with access to loans ranging from P3,000 to P50,000, along with flexible repayment terms between two to 12 months.

“UnaCash recognizes the increasing demand in the Philippine market for access to formal credit. We initially addressed this need with the introduction of point-of-sale (POS) loans in our platform in July 2023, and with the launch of Installment Loans, UnaCash aims to cater to more individuals with strong credit profiles,” said Aleksei Kosenko, president of UnaCash.

Installment Loans complement UnaCash’s current ‘buy now, pay later’ service, which has since been upgraded to offer POS loans. Installment Loans are being offered to existing customers with outstanding credit history with UnaCash.

“This provides more opportunities to upgrade their lifestyle, and manage unexpected expenses,” Kosenko added.

The application process for Installment Loans is integrated into the UnaCash app, providing a seamless customer journey.

Aside from an additional one valid ID, this eliminates the need for additional verification documents for the approval process as these clients have already been pre-approved before availing of the POS loans.

Furthermore, disbursement is facilitated in real-time upon an application’s approval, following UnaCash’s recent partnership with AllBank (A Thrift Bank) Inc. that allows a seamless way to process this through InstaPay.

“We wish to promote responsible repayment behavior among clients through this service. This also ensures that our commitment remains to providing accessible and beneficial financial solutions, catering to the evolving needs of every Filipino,” Konseko added.