Lending scheme for those at risk from loan sharks

SECURITY Bank Corp. (SBC) rolled out a new personal loan facility that will allow customers to avail themselves of short-term loans through an automated mobile cash facility that serves as a safer alternative to dealing with loan sharks.

Launched in 2017, SBC’s Salary Advance (SALAD) loan facility provides safe, convenient and affordable installments to individuals who do not usually qualify for regular loan products, as the bank aims to reduce Filipinos’ borrowing from informal lenders that offer risky terms and high interest rates.

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