MANILA, Philippines — Santa Monica-based fintech startup Tala has joined online lending platform Lendr of FINTQnologies Corp. to provide access to financial services to underserved Filipinos.
The partnership with the unit of PLDT Inc. would allow Tala to reach more unbanked and underserved Filipinos and extend credit to a larger market segment.
Tala Philippines country manager Angelo Madrid said Lendr is a channel that would allow the startup to extend credit to a market that is underserved by traditional financial institutions.
“On the Lendr platform, Tala will provide fast, reliable loans to Filipinos who want to start or to grow their business, support their families, or fund personal or emergency expenses,” he said
Applying for a Tala loan via Lendr is easy as prospective borrowers simply need to complete the application process by following the online prompts. Tala approves and releases loans within one business day.
Eligible individuals can borrow P1,000 to P10,000, payable in weekly installments of up to four weeks.
Tala is the leading mobile technology and data science company committed to financial inclusion globally. More than 1.4 million people have borrowed through Tala’s smartphone app, which provides instant credit scoring, lending, and other personalized financial services in emerging markets.