EMPLOYEES of the University of San Jose-Recoletos (USJ-R) will gain access to salary-linked loans of up to P2 million after the university partnered with SB Finance to offer a workplace financing program aimed at improving access to formal credit and supporting employees’ financial well-being.
Under the agreement, eligible regular employees may apply for multi-purpose loans ranging from P10,000 to P2 million through SB Finance’s eSaladProgram, subject to credit evaluation and program guidelines.
SB Finance president and chief executive officer Abbie Dans-Casanova said the partnership seeks to provide workers with a structured financing option that can help them manage both planned and unexpected expenses.
“Employees perform at their best when they have access to responsible financial tools that help them manage life’s planned and unplanned expenses,” she said.
The eSalad Program offers repayment terms of six, 12, 18, 24 and 36 months. Approved loan proceeds will be credited to the borrower’s preferred bank account through PesoNet, while repayments will be made via automatic salary deductions.
Loans worth P100,000 and below also come with complimentary Group Credit Life Insurance, which covers the outstanding loan balance in the event of the borrower’s death.
The program is open to eligible regular employees aged at least 21 years old and not older than 65 upon loan maturity, with at least one year of service and a minimum gross monthly income of P8,000, subject to documentary requirements and credit approval.
USJ-R president Rev. Fr. Eduardo S. Celiz Jr., OAR, said the initiative expands the university’s employee support programs beyond the workplace.
“By giving our employees access to responsible financial solutions, we hope to help them navigate financial challenges more confidently and focus on what they do best, which is serving our students and our community,” he said.
SB Finance said employer-linked financing programs help address the financing needs of working Filipinos by providing access to regulated credit channels tied to employment, promoting responsible borrowing while reducing reliance on informal lenders.
The partnership forms part of SB Finance’s broader strategy to expand workplace-based financial solutions through collaborations with employers, educational institutions and other organizations as it seeks to promote financial inclusion and financial wellness among Filipino workers. / KOC