Left to right: Sebastian Aenlle, Special Projects Officer (Angkas); David Medrana, Head of Operations (Angkas); Nicole Lugtu-Ugarte, Chairwoman (CFC); and Jethro Peñamante, President (CFC)
Cycle Financing Corp. (CFC) has partnered with Angkas, the Philippines’ first and biggest app-based motorcycle ride-hailing platform, to make its Sangla OR/CR financing program accessible to registered Angkas partner-riders.
Through CFC’s Sangla OR/CR, motorcycle riders can avail of a cash loan using only their vehicle’s Official Receipt (OR) and Certificate of Registration (CR) as collateral. Riders are not required to surrender their motorcycles and may continue using their units while paying off the loan. Proceeds are commonly used for business capital, family needs, and other expenses such as home improvements and motorcycle upgrades.
Under the financing program, eligible Angkas partner-riders will benefit from lower interest rates, reduced processing fees, and convenient loan repayment via automatic deductions from the rider’s e-wallet. These features are designed to provide a faster, more accessible, and rider-focused financing option.
“This partnership gives Angkas riders a more practical alternative to the traditional 5–6 lending system,” said Jethro Peñamante, President of Cycle Financing Corp. “It also aligns with our mission to provide financial solutions that help improve lives.”
Representatives from both companies recently met to discuss the program’s implementation, long-term goals, and potential areas for collaboration. Cycle Financing Corp. was represented by Nicole Lugtu-Ugarte, Chairwoman; Jethro Peñamante, President; and Mark Billante, Head of Business Development. Angkas was represented by David Brian Medrana, Head of Operations, and Sebastian Gio Aenlle, Special Projects Officer.
David Brian Medrana, Angkas Head of Operations (left) and Jethro Peñamante, CFC President (right) pose for a photo at Angkas Headquarters
During the meeting, Angkas expressed enthusiasm for the partnership and its potential impact on the rider community. “We are excited to partner with CFC to develop a product that provides a more inclusive and accessible financial solution for Angkas riders—one specifically designed for the unique needs of the gig economy,” said David Brian Medrana, Head of Operations.
“By working with Angkas, we are empowering riders with fair and accessible financing, helping them strengthen their livelihoods, support their families, and contribute meaningfully to the country’s growth,” said Nicole Lugtu-Ugarte, CFC Chairwoman.
Interested Angkas partner-riders may avail of the financing program by visiting cyclefinancing.ph or by sending a message to the official Cycle Financing Corp. Facebook page.
Mark strives to combine creative thinking and a deep understanding of technology to solve real-world challenges. He leads business development at Cycle Financing Corp., a financial institution focused on expanding financial access to Filipino motorcycle riders nationwide. Learn more about their flexible financing programs at cyclefinancing.ph or through their social media channels.
