What is SeekCap?
SeekCap is an online lending marketplace that allows small to medium enterprises or SMEs choose from different variations of loans available to them. SeekCap aims to help businesses, especially the small ones to meet their working capital requirements that will allow them to finance day-to-day operations. And in time of changing economic climates, SeekCap will help businesses or entrepreneurs strengthen their financial stability.
SeekCap Marketplace, how does it work?
The SeekCap Marketplace gives options to businesses when it comes to the loanable amount, reimbursement period, and the financial intermediary of their choice. Understanding different platforms will allow the borrower to compare interest rates and which loan is the most convenient for them.
SeekCap site consist of different term loans available and the borrower can just click the button which is directed to the step-by-step sign up application. That’s how easy it is.
How to apply for a SeekCap business loan?
As what mentioned earlier, SeekCap is an online lending marketplace that consist of different loans available for small business owners. If the latter wishes to apply, they can choose from the SeekCap marketplace, click the provided link, and sign-up.
Applying to SeekCap can only take 5 minutes. You can do this by choosing the best loan from the SeekCap marketplace, knowing the requirements, signing up, and filling out some basic information about you. Information such as your business name, its industry, your position, email (personal and business), and your password for signing in.
After filling out an application form, you have to read the terms and conditions to understand the rules and regulations of being on a business loan with SeekCap.
Requirements
According to the SeekCap website, these are the basic requirements for applying a loan:
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Business must be from Region 6 or Region 7
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Must be of legal age
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Must be a Filipino citizen
Prepare the following documents:
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Valid ID
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Selfie Image
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Municipal or Barangay Business Permit
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Photocopy of Latest Utility Bill under client name (provide authorization if not under client name)
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If renting, a copy of the lease contract or written certification from landlord
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Tax Identification Number
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Photocopy of valid ID of borrower and co- maker/s
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Photos of the business establishment/location (3 different angles)
Take note that there are times that the partnered financing product of SeekCap requires borrower all the business information such as SEC Registration, Income Tax Return, Location, etc.,
Loan Interest Rate
The interest rates are depending on the type of loan, the amount to borrow, and the reimbursement period you want. But the usual interest rate for a three-month period loan is 3% with a loan amount of PHP 51,000. This interest rate is relatively loan as compared to traditional loans.
How much does SeekCap loans?
With SeekCap loans, you can borrow money for as low as PHP 50,000 to PHP 20 Million, depending on the type of financial intermediary and loan you wish to borrow. For example, in Investree – which is one of the partnered financing products of SeekCap, you can borrow up to PHP 15 Million to fit the needs of your business.
Is SeekCap legit?
Yes, SeekCap is legit and is under the provisions of Securities and Exchange Commission or SEC. It is also one of the products of UBX Philippines – a FinTech company in the Philippines. If you wish to know more about them, you can visit https://www.ubx.ph/about-us/ .
How long does it take to receive a loan?
The number of days needed including the approval time and processing can last up to a month – especially if the money you wish to borrow is as large as a million peso.
SeekCap benefits
There are lots of benefits SeekCap can give you, including:
- The creation of opportunities for your business.
- Accessing the capital requirement you need.
- Expansion of your business.
- Allowing you to invest your money on cryptocurrency or in other passive income investments.
- And, developing innovation strategies for you and for the new financial trends today.
SeekCap partners
SeekCap has lots of partners to give borrowers all the options they may need before deciding what loan and amount to borrow. These partners include Investree, RAFI, Esquire, Right Choice Finance, SeedIn, UnionBank, and Lazada.
UnionBank
UnionBank in SeekCap wishes to offer flexible and competitive loans to business owners. And with just minimal requirements needed, it can help your enterprise to scale and grow.
Lazada
The Lazada Seller loan starts with PHP 5,000 pesos. Sellers can use this for additional capital or reselling.
How to pay for a SeekCap loan?
Every lender in SeekCap has an official collection channel that borrower can use to repay the loan. So repaying your loan depends on the lender you chose.
What happens if I can't pay?
The charges and late payment fees also depends on the lender that you choose. So make sure to read all the terms and conditions before agreeing to borrow the certain amount of money you chose.
SeekCap Customer Service
If you have any concern regarding on your application, loan status, or reimbursement settlement, you may contact SeekCap through the following:
Hotline
Unfortunately, hotline number is currently not available to contact SeekCap.
Contact Number
Unfortunately, contact number is currently not available to contact SeekCap.
Email address
You can reach SeekCap only through their email address at support@seekcap.ph or hello@ubx.ph
SeekCap reviews
A lot of people’s testimonies says that SeekCap allows them to find the best loan and financial intermediary fitted on their needs. The marketplace also offers fast transactions and ease of use.
Have you used SeekCap loans? Share your experience here.