The Camalig Bank, Inc. (A Rural Bank), together with FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations, have started rolling out mobile-based loan applications to several towns in Catanduanes through the digital lending platform Lendr.
With the help of Lendr, qualified teachers in various schools in the towns of Viga, Panganiban, and Bagamanoc in Catanduanes were able to apply for loans using Internet-connected mobile devices, and get notifications for their application all within the same day. Several other schools in the region are also expected to be part of the program in the coming months.
“We’re happy to partner with Camalig Bank in this effort of empowering teachers and other residents in low-income cities and municipalities in the Bicol region through mobile-based digital lending via Lendr. Through a fast and convenient application system, many are now gaining access to formal finance which will help them participate in this rapidly growing digital economy,” said Lito Villanueva, managing director at FINTQ.
Camalig Bank is the largest rural bank in the Bicol region, with presence in the provinces of Albay, Camarines Sur, Camarines Norte, Masbate, and Sorsogon, aside from Catanduanes.