A Step-by-Step Guide on How to Apply with Akulaku

Online financing is popular these days. With the presence of Tala, Loan Ranger, Moola, and Cashalo among others, there is another player in the market that is slowly gaining a solid customer base.

Say hello to Akulaku (registered in the Securities and Exchange Commission under Streetcorner Lending Corp.), an online financing company operating in Southeast Asia, particularly Vietnam, Malaysia, Indonesia, and Philippines. Its goal is to extend credit and as a result, give opportunity to people who are unbanked and has no credit card.

There’s so much you can do with Akulaku. It has Bills Payment feature that allows you to pay your bills like cable and water with just a few clicks. It could also offer you up to P25,000 credit limit, which you can use to shop at the platform’s accredited merchants. More importantly, it has a Cash Loan facility that lets you borrow money for whatever purpose. You can borrow P2,500 or P5,000 payable after eight or 15 days.

In case you’re interested, here’s how you can apply for Akulaku credit services:

Step 1: Download the mobile app on Google Play (for Android users) and Apple Store (for Apple users). Take note that Akulaku will only work on mobile phones. Online Cash LoanStep 2: Once installed in your mobile phone, choose your preferred language. Online Cash LoanStep 3: On the landing page, click Personal. The Personal tab will also reflect your personal infomation as well as the status of your orders. Online Cash LoanStep 4: Click Login / Register Online Cash LoanStep 5: Enter your mobile number and preferred log-in password. Then, click Create Account. Online Cash LoanStep 6: Enter your mobile number again and then click Send Code. A Verification Code will be sent to the mobile number you registered. Copy and then enter the code to proceed with your registration. Step 7: You will be back in the landing page as soon as you successfully verified your account. Click Credit. Online Cash LoanStep 8: On the Credit landing page, click Apply Now. Step 9: Fill out the Credit Limit Application Form truthfully. Make sure that the details reflect who you are. Step 10: Search for your corresponding employer. In case your employer is not on the list, simply input your employer’s name. Step 11: You will be asked to activate your account so you can avail of Akulaku services. Click Activate. Step 12: Input the necessary information being asked, including the convenient time you want to be contacted. Make sure to upload clear picture of your ID to make it easy for the Verification Team to process your application. Step 13: As soon as you completed Step 12, your account will now be reviewed by Akulaku team. Per Akulaku website, your credit limit application will be reviewed and processed within 48 hours. A representative from Akulaku’s Verification Team will also call you on within that 48 hours to check the information you provided.

Once approved, you can now enjoy Akulaku features.

What do you think? Easy to apply, right? What are you waiting for? Go ahead and give Akulaku a try.

Esquire Financing: Fueling Dreams to Help You Grow Your Business

Whoever said that running a business is easy is clearly not a businessman. It’s true that you are your own boss and you can manage your time according to your own preference. Nonetheless, running a business is not a bed of roses. You need to ensure that your suppliers are paid, your customers are happy and satisfied with your product, and above all, your business is earning a profit. There are also expenses you need to worry about like your employees’ salaries, cost of raw materials, and utilities expense among others.

What if you fell short of cash? Who do you run to for help?

Some business owners use their own savings to augment business expenses. The issue with this is that emergency could happen in  the family and you need that savings account.

This is where Esquire Financing could help. Read on to find out who Esquire Financing is, what it can do for you, and how to apply in case you need additional working capital. Esquire FinancingWho is Esquire Financing? 

Esquire Financing, Inc. is a SME-lending company that offers fast, non-collateral business loan to help manage the needs, goals, and cashflow of a small-medium business owner in the most hassle-free way possible. The company’s primary goal is to make business loans convenient and accessible to help achieve success.

Esquire Financing, Inc. stands by its three values: Efficiency, Flexibility, and Integrity.

Take note that Esquire Financing, Inc. is focused on providing business loan for SMEs and does NOT accept any others types of loan such as personal loan and housing loan. 

Loan Features:

  • Loan Amount: P100,000 to P10 million
  • Interest Rate: 1 to 3.5 percent per month, depending on the loan amount and term
  • Loan Term: Three to 12 months
  • Loan Repayment Option: Issuance of Post-Dated Checks (PDCs)
  • Loan Processing Time: Up to seven (7) working days upon receipt of complete documents

Requirements:

Compulsory Requirements:

  • Filled out and signed application form. You can get a copy of the form here.
  • Government-issued ID of the principal borrower, including TIN ID
  • Bank statement and Bank Certification for the last three months
  • Checking account that is active for at least six (6) months
  • Photocopy of Mayor’s Permit and Barangay Clearance
  • 1×1 colored ID picture of the principal borrower
  • One picture each of the business’ exterior and interior premises
  • Latest proof of billing statement for both the business and residence of principal borrower
  • Map or sketch (landmarks included) of the business location and residence of the principal borrower

Additional Requirement for Sole Proprietor

  • DTI Certificate of Business Name Registration

Additional Requirements for Partnerships

  • BIR Certificate of Registration
  • SEC Certification of Incorporation or Registration
  • Latest Articles of Partnership and By-Laws
  • Partner’s Resolution in PR.10.2017 format

Additional Requirements for Corporations

  • BIR Certificate of Registration
  • SEC Certification of Incorporation or Registration
  • Latest Articles of Partnership and By-Laws
  • Latest General Information Sheet (GIS)
  • Secretary’s Certificate in SC.10.2017 format

Take note that only photocopy/ies of the additional requirements are needed

Two Ways to Apply for a Business Loan with Esquire Financing:

Option A

  1. Fill out the loan application form. You can get a copy of the application form here.
  2. Submit the compulsory and corresponding additional requirements together with the application form at Esquire Financing, Inc.’s main office.

Option B

  1. Fill out the Business Loan Inquiry form. Esquire Financing
  2. A confirmation message will be sent to your email address. Esquire Financing
  3. A Loan Specialist will contact you to discuss the best way to proceed with your loan application. if qualified, you will be asked to submit compulsory and corresponding additional requirements in their main office.
  4. If approved, you can now claim the proceeds of your loan.

For further questions or concerns, you can contact Esquire Financing, Inc. by checking out the available modes through their Contacts Page.

Are you ready to grow your business?

First Circle: Fast and Simple Business Funding with Just a Few Clicks

It’s not easy to become a business owner. It’s a 24/7 job that requires 100 percent of your time and effort. Plus, you need to ensure that your business is earning sufficient profits and at the same time, you have enough funds left in case you need to fill in inventory, pay necessary expenses, and additional working capital.

Who do you run to if you are short of funds?

Surely, your family or friends could let you borrow money, but don’t rely on them too much. Banks may be your next option, but applying for a business loan from them could be tedious. This is where First Circle comes in.

Read on to learn more about this lender, what it can do for you, and how to apply in case you need additional funds.

Who is First Circle? Business Loan for SMELaunched publicly in 2016, First Circle is a Philippine-based fin-tech lender that aims to help small-medium business owners with their financing needs. The company understand how difficult it is to apply for a business loan with banks. Plus, not all SMEs have sufficient collateral to cover the amount to be borrowed, which could be a ground for loan rejection.

This is why First Circle offers short-term business loans like Purchase Order Financing and Invoice Financing to address financial gap (such as additional working capital and finance operating expenses) in the most convenient way possible. First Circle understands that there are factors beyond your control like late payment of customers or occurrence of fortuitous event that affected your business. In case you need immediate financing, this is where First Circle comes in. Applying is easy as well because everything happens online, which means you don’t have to physically go to their office and brave Metro Manila traffic just to apply for a loan.

As of this writing, First Circle is supported by the Philippine government and is the official finance partner of the Department of Trade and Industry.

Features of First Circle’s Short-Term Business Loan

  • Loan Amount: Not specifically disclosed
  • Interest Rate: 1.99 to 3.49 percent, depending on the applicant’s overall business profile
  • Loan Term: Maximum of six months
  • Fixed processing of 1.99 percent, which is computed against the total loan amount

Requirements when Applying for First Circle Business Loan 

  • Applicant must be a legitimate business owner seeking for business loan
  • Two valid government IDs of the business owner
  • BIR Certificate of Registration
  • DTI or SEC Certificate of Registration
  • Proof of Billing
  • Purchase Order (PO) or Invoice wherein the amount is minimum of P25,000, which you want to be financed
  • In the absence of Purchase Order or Invoice, you can submit Contract Agreement, Notice of Award, Notice to Proceed, Billing Statement, or Delivery Receipt

How to Apply for Business Loan with First Circle:

  1. Create a TrustPass profile by filling out their online application form. You can access the form here. Take note that there are two types of TrustPass profile – Personal and Business. These two are required so that First Circle can verify both your personal and business profiles, which are essential when applying for a loan. First Circle
  2. Once your profiles are approved, submit a Purchase Order or Invoice, depending on what your business needs. Keep in mind that the amount of your purchase order or invoice should be at least P25,000.
  3. Aside from the Purchase Order or Invoice, submit other documents listed above. First Circle will verify your loan application and documents within 24 to 48 hours.
  4. If approved, you will be contacted by First Circle representative and ask to accept the offer. Funds will be transferred to your account within 24 to 48 hours from the time you accepted the offer.
  5. Submit a post-dated check indicating the total loan amount plus interest. This will be picked up by First Circle’s courier on an agreed time and day, and will serve as your payment upon maturity of the loan.

Tips in Applying for First Circle Business Loan

  • Make sure that the minimum amount of your PO or Invoice is P25,000.
  • You should have a checking account. Mode of payment is via post-dated check, which you will submit to First Circle as soon as you accepted the offer.
  • Your credit standing matters. This will increase your chances of not just loan approval but also refinancing.

Now you know who you can run to in case you need additional capital in your business.

What You Need to Know about PAG-IBIG’s Multi-Purpose Loan

You’ll never know what would happen tomorrow, next week, by the end of the month, or three years from now. That is why it is important to prepare for what could possibly happen to make sure you could get back up.

We know. You have responsibilities, tons of expenses to pay, and mouths to feed. In fact, you barely have nothing left every month that you can set aside for savings. In case you need immediate funds, you turn to relatives and friends, hoping that they could lend you some, no matter how small the amount is.

What if they can’t lend you money? In that case, you might want to turn to PAG-IBIG through its Multi-Purpose Loan or MPL. This facility is offered by PAG-IBIG to all its active and qualified members to help augment financial needs.

The best part is you are given two months grace period, which means you will only start paying on the third month from the time of your loan application. For instance, you applied for and was approved on January. Payment will only start on March.

In case you are interested, here’s what you need to know about it:

Multi-Purpose Loan Features:

  • Loan Amount: Your desired loan amount OR 80 percent of Total Accumulated Value (TAV), whichever is LOWER. Your capacity to pay will likewise be considered on the approved loan amount to ensure that your net take home pay will not be below the minimum requirements prescribed by the General Appropriations Act (GAA).
  • Interest Rate: 10.5 percent per annum, with the rate equalized over the duration of the loan.
  • Loan Term:  Maximum of 24 months with grace period of two months
  • Loan Renewal: MPL may be renewed after payment of at least six monthly amortizations.
  • Loan Release: Loan proceeds may be credited to your disbursement card, OR bank account through Land Bank, OR check under your name, OR any other legitimate modes of disbursement.
  • Loan Repayment: The MPL will be paid in equal monthly payments, which covers both principal and interest, and to be deducted on your monthly salary. If you contribute voluntarily or an OFW, payment must be done over-the-counter and every 15th of the month starting on the third month. You can check this guide on PAG-IBIG Payment Facilities.
  • Penalty Fee: 1/20 of one percent of the unpaid amount per day.
  • Early termination of MPL is loan with no pre-termination fee.
  • Failure to pay monthly amortization or monthly contributions for three consecutive months constitutes default. As a result, the loan obligation becomes due and demandable.

Purpose/s of MPL:

  • Health and wellness
  • Minor home improvement, upgrades, or renovation
  • Educational expenses
  • Livelihood or additional working capital for business
  • Car repair
  • Special events
  • Purchase of appliances or gadgets
  • Payment of bills
  • Additional funds for vacation or travel
  • Medical

In other words, you can use PAG-IBIG’s Multi-Purpose Loan for whatever purpose it might serve you. If you are thinking of buying a new house or to finance your business, then there is a separate loan facility for that.

Who are eligible to apply for MPL? 

  • Member who has made at least 24 monthly membership savings or MS. If you have withdrawn or stop contributing to PAG-IBIG, then you can still apply for MPL provided that you will pay an equivalent of 24 monthly contributions.
  • Has made at least one month contribution for the last six months prior to the date of the loan application.
  • Has sufficient proof of income.

In case you have existing Housing Loan, MPL, or Calamity Loan, you can still apply for Multi-Purpose Loan provided that the account/s must NOT be in default at the time of the loan application.

How to Apply for PAG-IBIG’s Multi-Purpose Loan:

  1. Fill out the application for Multi-Purpose Loan. You can get a copy at any PAG-IBIG branches or get a copy here.
  2. Submit your loan application to the nearest PAG-IBIG branch.
  3. Submit other documents such as valid government-issued ID and photocopy of payroll account, disbursement card, or bank account for disbursement.
  4. Wait for the PAG-IBIG representative to give you a feedback regarding the status of your loan application.

Are you ready to apply?

Need Cash? You Might Want to Try SSS Salary Loan

Who do you run to when you need cash? Family and friends will always be your first options because:

  1. they can be found easily, which means borrowing money is easy as well;
  2. there is no interest rate imposed; and
  3. you can pay when able (although this shouldn’t always be the case).

Of course, you need to understand that family and friends can’t come to your rescue when you need help. As a result, you turn to banks for personal loan.

Did you know that government agencies like SSS also offers this type of facility to its members? It is called Salary Loan and the main purpose of this cash loan facility is to offer short-term credit needs to ALL its members.

Here’s what you should know about SSS Salary Loan: 

Loan Features 

  • Loan Term: One or two months
  • Loan Amount: For one-month loan, amount is the borrower’s average latest posted 12 Monthly Salary Credit (MSC) OR amount applied for, whichever is lower. For two-month loan, the amount is twice the average of the latest posted 12 MSC, rounded to the next higher monthly salary credit OR amount applied for, whichever is lower.
  • Interest Rate: 10 percent per annum
  • Loan Repayment: Payable within two years in 24 equal monthly installments at any SSS branch with tellering facility or SSS-accredited bank or payment center. Take note that the monthly amortization will start on the second month following the date of the loan.
  • Penalty Rate: One percent per month
  • One percent service fee, which will be deducted on the proceeds of the loan.
  • Loan renewal is allowed as long as at least 50 percent of the principal amount has been paid and at least 50 percent of the loan term has lapsed.

Who can apply? 

  • SSS members who are currently employed, contributing self-employed, or voluntary member.
  • S/he must be under sixty-five (65) years of age at the time of application.
  • SSS members with continuous and updated monthly contributions. Member-borrower must also post at least 36 and 72 monthly contributions for one-month and two-month loan, respectively, six of which must be made within the last 12 months prior to the application.
  • SSS member-borrower who has not been granted final benefit like retirement, total permanent disability, or death benefits.
  • S/he must not be disqualified due to fraud committed against SSS.

How to Apply for SSS Salary Loan:

  1. Fill out the application form.
  2. Present your SSS digitized ID or E-6 (Acknowledgement Stub) together with two valid IDs, preferably with photo. For a complete list of acceptable ID, you can check out this post.
  3. Submit the application form and IDs at the SSS branch nearest your office or place of residence.
  4. In case you have an online account with SSS, you can also submit your application form by logging in at your My.SSS account. If you are employed and you opted for online application, take note that your application form will be directed to your employer’s My.SSS account, which means your employer must also be registered online with SSS.

For OFW Applicants

You should submit the following at the SSS branch nearest your place of residence:

  • Duly accomplished application form of the borrower
  • Two (2) valid ID with photo OR SSS card of the OFW’s authorized representative AND OFW member-borrower
  • Letter of Authority (LOA) signed by both OFW member-borrower and authorized representative

Take note that documents issued overseas must be duly authenticated or certified by the Philippine Embassy or Consulate.

If applicable, you can also submit your loan application at SSS Foreign Representatives stationed in Hong Kong, Singapore, Malaysia, Taiwan, Brunei, Qatar, UAE, Saudi Arabia, Bahrain, Italy, and UK.

If filed by Employer or Company Representative

  • Duly accomplished application form of the borrower
  • Member-borrower’s SS card OR SS Form E-6 acknowledgement stub and two valid IDs with photo and signature
  • Authorized Company Representative (ACR) card issued by SSS
  • Letter of Authority from employer and two valid IDs with photo and signature
  • Updated Specimen Signature Card (SS Form L-501)

Sounds tempting, don’t you think? Plus, this is a good way to take advantage of your membership as well.

Home Credit’s Cash Loan: Are You Qualified or Not?

Home Credit is among the popular lenders because of the consumer loans they offer. Even if you are short in cash, you can still buy items like gadgets, household furniture, and hardware, and pay for it in installment basis. Application is easy as well since Home Credit partnered with various stores around Metro Manila and nearby provinces where you can easily find them. This means instead of going to them, they go to you.

Did you know that they offer cash loans as well?

In case you are interested, here’s what we know so far about this facility they offer:

Features

  • Loan Amount: Per Home Credit representative, the amount to be borrowed will depend on the “offer” of the client. The amount may be system-generated as well. This means Home Credit looks into your history with them, including the frequency of borrowings and whether or not payments were made on time and in full. Sadly, they could not provide us with a specific amount that one can borrow.
  • Interest Rate: Not disclosed
  • Payout Option: Depends on your assigned payout channel. You can pick up the loan amount OR through bank deposit. Home Credit will also send instructions on how to claim the cash to the contact details you provided when you registered with Home Credit.
  • Loan Term: Not disclosed
  • Loan Repayment: Monthly installments through Home Credit’s accredited payment channels.
  • Early repayment is allowed as long as it is equivalent to one monthly installment. In case of early full repayment, you must inform Home Credit representatives about your intention to pay in full so they can make necessary adjustment.

Who can apply? 

Unfortunately, Home Credit’s cash loan is not available for everyone. The lender only offers this facility to those who have existing accounts with them. If you are interested in getting a cash loan from Home Credit, we suggest that you apply for their consumer loan first.

In case you are an existing customer, you will get SMS or email notification if you are qualified to avail of cash loan. You can also check your status through the Home Credit app to see if you are eligible for this facility.

If qualified, you will be informed by Home Credit representatives on how to avail of it and where you can get your money.

Unfortunately, Home Credit representatives are wary of sharing more information about their Cash Loan facility. They refused to disclose specific minimum to maximum amount a borrower can borrow as well as the interest rate and loan term UNLESS you are a client; hence the lack of information.

If you are thinking of getting a cash loan from Home Credit, you may call their hotline at (02) 753-5711 or email them at [email protected]

Review: What Customers are Saying about Akulaku

There are days when you need a new phone, laptop, or small appliances because the old one (that’s been with you for years) broke down. Apparently, you don’t have enough funds to get yourself a new one.

What do you do?

Borrowing money from family might be your first choice, but what if even your family cannot lend you some? Getting a personal loan from banks is out of the question as well because of the requirements needed. In that case, you turn to online cash lenders like Akulaku. 

Is it worth it? Is it legitimate? How about the processing and payment? Don’t worry. These questions will be answered based on the reviews shared by Akulaku customers.

On Loan Application

Applying for a loan is easy. Simply download the Akulaku app, which is available in both Apple and Android devices, create an account to register, and apply for a credit limit. Most Akulaku customers are in unison in saying that applying for a loan is easy since all they needed was their smartphone. The requirements are easy to comply with as well, although some say they weren’t able to push through with their application because they don’t have government-issued ID.

On the other hand, there are customers who are not happy when it comes to their credit limit. One of the customers interviewed said that she’s been a loyal customer of Akulaku but was not granted an increase despite using the app repeatedly and paying on time and in full. When she asked for an increase, Akulaku wasn’t that helpful, saying that the credit limit was system-generated.

On Delivery of Items Ordered

Aside from cash loan, Akulaku also offers sale of items, which will be paid on installment basis. Most customers say that it took a while for Akulaku to deliver the items they ordered. Although the delivery time is three to five days, some didn’t get their items until on the seventh day from the time they applied  or even longer. Some were even complaining that they are due to pay their loan on this particular day but haven’t received the item they ordered.

On Loan Repayment 

Despite being new in the market, Akulaku is commendable for its variety of loan repayment options such as GCash, DragonPay, ECPay, or over-the-counter payments in banks like PNB. Payment can also be done online, which is a big plus for customers.

Unfortunately, payment made will not reflect on Akulaku system immediately. Some customers said that they have to repeatedly send proof of payment because they were being charged for late payment fee despite paying in full and on time.

On Customer Service

This was one of the common complaints of Akulaku users. Despite the ease in applying for a loan and a lot of potential, most of them say that they need to improve on their customer service. Akulaku representatives don’t often reply in messages sent on Facebook despite repeated messages made by customers.

They do hope that Akulaku will improve on their customer service, especially the Chat Support so they could address their customers faster, more effectively, and not just give them a generic reply when raising their concerns.

Given this feedback from customers, do you want to give Akulaku a try?

Review: Find Out What People are Saying about Cashalo

Fact: there are many online cash lenders available in the market. Tala Philippines, Moola Lending, and Loan Ranger may be dominating the market, but there is a newcomer these days and people are also raving about it.

Who is this newcomer? It’s Cashalo.

Is it safe? Is it worth applying for? Does it charge high interest rate? How’s the customer service?

Don’t worry. These questions will be answered, so make sure to stick around and find out what customers have to say about Cashalo.

Interest Rate

Most customers who borrowed from Cashalo are in unison in saying that Cashalo has low, affordable interest rate at 3.95 percent. In fact, Cashalo’s interest rate are commended by its customers as compared to the rates offered by other online cash lenders. This is the reason why the customers interviewed took a risk and tried Cashalo.

Loan Processing

Customers have different experiences. Some say that their loan application was approved within 24 hours from the time they submitted their loan application. They got a call from Cashalo representatives for an interview to verify the details indicated in their loan application. After a few hours, the loan amount was credited to their account.

On the other hand, there are customers who experienced delay in the processing of their loan application. One customer shared that it took two days before the amount was credited to her bank account while another said that her loan application was approved after 24 hours.

Nonetheless, some of the customers interviewed said that while others experienced fast approval, there are many others who got rejected instantly. One app user said that her loan application was rejected less than a minute after she submitted her application.

Loan Repayment

According to the customers interviewed, Cashalo’s loan repayment scheme is easy and straightforward compared to other online cash lenders they tried. Most of them paid over-the-counter through DragonPay.

Nonetheless, many of them said that they hoped Cashalo will introduce other payment schemes to make loan repayment easier and more convenient.

On Applying for a Succeeding Loan

This is another concern for most of the customers interviewed. According to them, although they paid for their first loan on time (some in advance), they had a problem applying for a second one. They echoed that paying on time and in full won’t automatically guarantee approval for succeeding loan applications.

Customer Service

This is another aspect that is commended by many customers interviewed. Most of them had good experience when it comes to Customer Service, saying that the staff who contacted them are nice and respectful.

Unfortunately, there were others who didn’t have a pleasant experience dealing with Cashalo’s customer service. They said that when making inquiries, follow-up, or clarifications regarding their loan, they rarely get a reply from Cashalo despite repeated messages. When it comes to following up payments, Cashalo representatives are so quick in sending them messages nonstop.

Overall, Cashalo’s low interest rate compared to other online cash lenders is its main selling point. Fast approval is also among its strongest feature, but it is best to lower your expectations since processing time varies per borrower. Still, try downloading the Cashalo app now to give it a try and see for yourself.

Persona Personal Loan: Sterling Bank of Asia’s Loan Offering to the Filipinos

“Because, life is never about waiting. It’s about making it happen.” 

That’s the slogan that Sterling Bank of Asia is championing. Whether you need funds to start your business, additional funds for capital, making your home renovation happen, money for your upcoming family vacation, payment for your child’s tuition fee, or simply to pay off credit card bills that never seem to end, Sterling Bank’s Persona Personal Loan can be your financial partner.

Features of Sterling Bank of Asia’s Persona Personal Loan

  • Loan Amount: minimum of P50,000 to maximum of P1 million
  • Loan Term: 12, 18, 24, and 36 months
  • Loan Repayment: issuance of post-dated checks
  • Interest Rate: not disclosed in the website, but you can check Sterling Bank’s website’s Loan Calculator to give you an idea on how much to pay based on your desired amount and loan term. You can access the loan calculator here.

Requirements:

  • Filipino citizen
  • Between 21 and not more than 60 years old at the time of loan maturity
  • Minimum gross salary of P30,000
  • Has valid home and office landline
  • If renting, at least one year residency in the home being rented

If employed – 

  • At least two years employment tenure with current employer
  • If employed in BPO and manufacturing companies, employment tenure must be at least three years
  • Copy of the latest payslip
  • Latest BIR Form 2316 with signature
  • Photocopy of one government-issued ID and company ID
  • Latest two-month credit card statements
  • Certificate of Employment

If self-employed – 

  • Photocopy of two government-issued IDs
  • Credit card billing statement for the last two months
  • Business must be in operation for at least three years and profitable for the last two years
  • Business permit
  • DTI or SEC registration with General Information Sheet (GIS), whichever is applicable
  • Six months-worth of bank statements
  • Last two years Income Tax Return and Audited Financial Statements
  • Trade references (three suppliers and customers each with corresponding contact details)

How to Apply for Sterling Bank’s Persona Personal Loan 

  1. Submit your Persona Personal Loan application form in any of the Sterling Bank branches, preferably the branch nearest your place of residence. You can download the application form here.
  2. Submit the required documents together with the loan application form.
  3. Wait for at least seven working days for the review of your loan application. You will be contacted directly by Sterling Bank representative regarding the status of your loan application.
  4. If approved, the amount will be credited to your Sterling Bank account.

Tips in Applying for Persona Personal Loan 

  • Open an account with Sterling Bank of Asia. This is a must because funds will be credited to your Sterling Bank account.
  • Make sure you own a credit card. This will make it easier for the bank to review your credit standing, which is also one of the important considerations for the approval or denial of your loan application.
  • Complete all the documentary requirements needed. This will make it easier and faster for bank representatives to review your loan application.

For further questions about Sterling Bank’s Persona Personal Loan, you may call the bank directly at (02) 721-6000.

UCPB: Offering SalarEasy / YES Loan for Your Cash Needs

You’ll never know when rainy days will come. This is why you always have to be prepared and make sure you have cash on hand or your Emergency Fund has sufficient amount to cover for sudden cash needs.

What if there’s not enough cash on hand? In that case, you can turn to UCPB and avail of its SalarEasy Loan.

Features of UCPB SalarEasy Loan

  • Loan Amount: minimum of P50,000 and maximum of P1 million
  • Loan Term: 12, 18, 24, and 36 months
  • Loan Repayment: via post-dated check
  • Interest Rate: not specified, but you can use its online calculator to give you an idea on how much to pay
  • Processing fee of P1,500.00
  • Early settlement fee of 5% p.a. on outstanding balance
  • Late payment fee of P300 or 5% p.a. on outstanding balance, whichever is higher

Requirements

  • Completely-filled loan UCPB SalarEasy loan application form. You can get a copy here.
  • Filipino citizen and a permanent resident of the Philippines
  • At least 23 years old but not more than 65 years old at the time of loan maturity
  • Photocopy of two government-issued IDs
  • Must have a checking account and a credit card holder
  • Copy of latest utility bill
  • Copy of the latest credit card bill for two months

If employed –

  • At least two years continuous employment with supervisorial rank
  • Minimum gross monthly income of P30,000
  • Photocopy of company ID
  • Latest ITR or BIR Form 2316

If self-employed

  • Business must be operational for at least three years and profitable for the last two years
  • Latest audited financial statements and ITR
  • Business registration documents (DTI or SEC registration certificate) and permits (Barangay permit, Mayor’s permit, etc)
  • Copy of checking account statement for the last six months

How to Apply for UCPB SalarEasy Loan 

  1. Completely fill out the loan application form.
  2. Submit the completed UCPB SalarEasy loan application and the required documents.
  3. Wait for five to seven days for approval. You will be contacted directly by UCPB representative regarding the status of your loan.
  4. Get a free UCPB eMoney Card as a payout method for the loan.

Tips in Applying for UCPB SalarEasy Loan 

  • Make sure you have a credit card and checking account. The checking account is necessary because this will be the method used to repay the loan.
  • Ensure that all of the required documents are complete.

For further questions about the SalarEasy loan, you can call UCPB Consumer Loans hotline at (02) 811-9100 between 8:30am and 5:00pm or go to the nearest UCPB branch.

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