Maya Bank, Cebuana Lhuillier team up to boost MSME financing

MAYA BANK, Inc. has partnered with rural lender Cebuana Lhuillier to widen financing access for micro, small and medium enterprises (MSME), including mom-and-pop stores and micro-merchants.

“Bringing together Cebuana Lhuillier’s trusted network and Maya’s digital banking creates a strong bridge between physical access points and modern financial services,” Shailesh Baidwan, Maya Group president and Maya Bank co-founder, said in a statement on Tuesday.

“It allows us to deliver credit, remittance and banking where they can make the biggest impact — at the grassroots,” she added.

Cebuana Lhuillier, which operates more than 3,500 branches nationwide and is widely known for its remittance services, will complement Maya’s digital banking and payment platform. The tie-up is expected to improve small businesses’ access to credit, international remittance and digital financial tools.

“Through this partnership, our agents can access the needed capital to grow their businesses, while Cebuana Easy Loan gives customers their first step into responsible credit,” Philippe André Lhuillier, Cebuana Lhuillier senior executive vice-president, said in the same statement.

As part of the collaboration, the companies rolled out Easy Loan, a revolving credit line ranging from P1,000 to P30,000. Cebuana Lhuillier’s authorized agents will be given access to a working capital loan tailored for mom-and-pop stores, independent sellers and other micro-merchants.

“Qualified agents can draw up to P350,000, receive funds in minutes and manage flexible repayments directly in the app,” according to the statement.

The partnership will also allow Maya Center agents to offer international remittance services while tapping Cebuana Lhuillier’s nationwide network, giving them income opportunities.

MSMEs make up more than 99% of businesses in the Philippines, but many face difficulty in scaling up due to limited funding and lack of credit access.

“Our goal has always been to bring financial services closer to every Filipino,” Cebuana Lhuillier President and Chief Executive Officer Jean Henri Lhuillier said. “This partnership allows us to provide our customers with more services on-ground and online to add value to their financial journey.” — Beatriz Marie D. Cruz