STRUGGLING card protection business CPP has been granted a two-week extension by its lenders to secure new funding arrangements.

CPP has been given a lifeline after agreeing a two week extension with its lenders to help it explore "alternative financing and strategic options".

CPP, based in York, is understood to looking at a six-month extension to its borrowing arrangement that would avert short-term administration, and give the company time to negotiate a longer deal.

The CPP said Tuesday that the SC decision to uphold the third extension of martial law in Mindanao would lead to more abuses.