Strengthening its thrust for sustainability, SB Finance, an affiliate of Security Bank, has partnered with Cost Plus Inc., a leading distributor of electric vehicles, to offer MotorsikLOAN financing for electric tricycles (E-Trikes) as part of the Kidlat Electric Vehicles program.
This partnership is designed to directly benefit Tricycle Operators and Drivers’ Associations (TODA) in Quezon City, Laguna, and Rizal by offering affordable financing options to help them transition to sustainable, cost-efficient transportation.
The collaboration between SB Finance and Cost Plus Inc. brings accessible financing to TODA members, enabling them to upgrade to electric tricycles that offer reduced fuel costs and lower maintenance expenses. This shift will not only improve their daily income but also help them embrace a greener, more sustainable mode of transportation.
(from L-R) SB Finance Head of Motorcycle Sales and Distribution Lovely Galang, Chief Business Officer Gerard Betita, Cost Plus, Inc. President Anand Mahtani, SB Finance President and CEO Abbie Dans-Casanova, and Cost Plus, Inc. General Manager Chips Guevarra sign a partnership for e-trike financing for TODA members.
"At SB Finance, we aim to make our financial products not only provide immediate value but also contribute to long-term economic and environmental benefits. MotorsikLOAN is a key enabler for TODA members to modernize their operations while supporting the country’s push for sustainability," said Abbie Dans-Casanova, CEO of SB Finance. "This partnership will provide tricycle drivers with a chance to improve their livelihoods, reduce operational costs, and help transition the Philippines to a greener future."
With MotorsikLOAN, TODA members will benefit from long-term payment options available at over 100 Cost Plus Inc. branches nationwide.
"By joining forces with SB Finance, we are providing TODA members with the tools they need to secure better incomes and more reliable vehicles. Electric tricycles are not just a solution for today — they’re the future of sustainable transport in the Philippines. We are proud to be part of an initiative that directly benefits drivers while also advancing our nation’s environmental goals,” Anand Mahtani, President of Cost Plus Inc. shared.
The Kidlat Electric Vehicles program is aligned with the government’s efforts to promote sustainable transportation and provides a pathway for tricycle drivers to embrace eco-friendly alternatives, furthering the nation’s goals of decarbonization and environmental sustainability.
Aside from e-trikes, SB Finance also offers financing options for rooftop solar panels; further cementing the company's goal of providing accessible sustainable solutions to Filipinos. The loan, which provides up to PhP 2 million worth of financing, enables borrowers to use the money for pay for the upfront cost of installing rooftop solar panels to their homes.
For more information about the MotorsikLOAN and Kidlat Electric Vehicles programs, and to find out how TODA members can apply, visit www.sbfinance.com or www.costplusinc.com.
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