BizmoLoan will be a mobile app-based lending service
Micro-enterprise loans to be made available to qualified Bizmoto agents, registered Bizmoto network members and enterprise platform partners to enable adoption of Bizmoto services and drive the use of the Bizmoto ecosystem
Lending initially focused on Bizmoto agent base utilising established platform of Bizmoto services, powered by Peppermint’s proven mobile wallet and technology platform
Alternative non-bank lending market in the Philippines is growing rapidly where 70% of the population are unbanked, and many more are underbanked
Economic growth coupled with widespread mobile internet usage (almost 86% use the internet via mobile devices) sees a growing number of middle-class Filipinos ready to access finance through mobile phone app lenders
The consumer finance market in the Philippines was valued at PHP 1.57 trillion (USD $31.4 billion) in 2018 and is growing 17% circa annually
Final application for Peppermint Finance Inc. lodged with the Philippines’ Securities Exchange Commission (SEC) to underpin BizmoLoan operations
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