Netbank and Zetl Announce Lending Partnership in the Philippines

Netbank and Zetl Announce Lending Partnership in the Philippines

Manila, Philippines – October 7, 2022

Zetl and Netbank, (a Rural Bank), inc. have partnered to provide an innovative approach to SME financing in the Philippines. Under this partnership, Zetl will identify ‘asset light’ SMEs with a regular and guaranteed income stream, seeking funding. Netbank will provide loans to these companies, allowing them to accelerate their growth.

Filipino SMEs frequently encounter difficulties with day-to-day liquidity, primarily because of shortages in working capital. Zetl solves this issue, for Business Process Outsourcing (BPO) firms and workforce agencies, by providing a regular source of funding by discounting the invoices issued by these companies. 

Netbank, as a regulated bank, is supporting Zetl by providing specialist accounts and loan services. For example, it is providing accounts to allow loan disbursements and repayments, with loan repayment processing capabilities in place for either local or international payments.

According to Gus Poston, Chairman and Co-Founder of Netbank: "We are excited to work with Zetl, which is deploying expertise in credit risk management and client identification, so that we can accelerate the funding to critical industries such as BPOs and outsourcing. We see significant growth opportunities in this segment and look forward to an effective partnership with Zetl” 

Co-founder and CEO Shan Han of Zetl adds: “We are delighted to be working with Netbank, which is enabling us to serve Filipino SMEs with flexible revenue based products and business accounts to power their growth. Netbank offers a world class fully regulated BaaS service which will help us to deliver better financial products to our customers. ”

Zetl is Asia-Pacific’s first fintech financing company for service businesses that ensure employees are paid on time. With their integrated self-serve app, Zetl helps SMEs with their monthly operating expenses by providing growth, payroll, and working capital financing. They also offer embedded financing solutions for partners.

Netbank (A Rural Bank), Inc. is the first banking-as-a-service platform in Southeast Asia operating on a full banking licence. It provides banking services on a fully white-labelled basis so that Filipino Fintechs can grow fast and reduce their costs, thus accelerating financial inclusion and innovation. It provides simple, creative, low cost solutions so partners can open accounts, offer loans and manage payments.  

To learn more about Netbank, go to www.netbank.ph, see LinkedIn or contact me@netbank.ph 

To learn more about Zetl, go to www.zetl.com, see LinkedIn or contact hello@zetl.com.