Admit it. Sometimes, you don’t know who to go to in case you are short in cash. As much as you want to seek help from your parents or even closest friends, you just can’t because they have their own needs, too.
This could be the reason why online cash lenders are proliferating these days.
Think about this: you’re in need of cash. Instead of going to the bank to fill out forms and submit tons of documents only to get an answer after a week, you can simply download an app and apply for a loan.
When it comes to online cash loan, Cashwagon could be of service.
Who is Cashwagon Philippines?
Cashwagon Philippines is a fin-tech company that offers consumer financial products sans collateral requirements and complex loan procedures. It targets 80 percent of Southeast Asian consumers who are usually not qualified under traditional financial services.
Its mission is to deliver fast and easy access to innovative financial services in the region.
Cashwagon is based in Singapore and is rapidly expanding its business in Southeast Asia including Indonesia, Malaysia, Vietnam, and Philippines.
How to Apply for an Online Cash Loan with Cashwagon:
Step 1: Download the app on Google Play Store. As of this writing, Cashwagon app is limited to Android users only.
Step 2: Open the app. Click Allow button to let Cashwagon access your mobile device information. This is also necessary, otherwise, your loan application won’t push through.
Step 3: On a new landing page, navigate the arrow depending on the amount you plan to borrow. For first-time users, maximum loanable amount is P7,000. For repeat customers, you can get as much as P20,000.
As you navigate the arrow, it will show you the total outstanding obligation and due date. Take note of this so you could see how much you owe on a given date.
Step 4: Enter your mobile number.
Step 5: Input your personal details. including your government-issued ID. Doing this step will increase your chances of approval.
Step 6: Fill out your employment and bank details. This is also necessary to increase your chances of approval.
Step 7: Allow Cashwagon to take pictures and record videos. This is a necessary step since Cashwagon needs a copy of your government-issued ID.
Step 8: Take a picture of your ID. Make sure your ID fits perfectly on the frame.
Step 9: Take a photo of yourself. Your face should be within the frame. This will also verify your identity.
Step 10: Once completed, a four-digit verification code will be sent to your registered mobile number. Input the code sent to your number.
Step 11: Tick the I Understand checkbox. Then, click Ok.
Take note that you may also apply for an online cash loan directly through their website.
Tips to Remember When Applying for an Online Loan with Cashwagon:
Bank account is necessary. This is where Cashwagon will deposit the money you borrowed.
Employment is a must. This ensures Cashwagon that they will be paid even if there is no collateral.
Make sure you have valid, working, and active email address and mobile number. This will be used by Cashwagon to contact you and verify the details you used in your application form.
Who is your go-to person (or entity) when you need quick cash? Usually, family or friends are on your speed dial. Apparently, not everyone are willing to lend you some cash because let’s face it, they have needs, too.
What’s your next option? Banks. As much as you want to borrow, banks could make it difficult for you to apply because of the tons of requirements you need to submit. By the time the bank releases the money, you no longer need it.
If you’re looking for instant online loan, then RoboCash could help.
Who is RoboCash?
Robocash Finance Corporation or Robocash is a financing company licensed by the SEC. It offers payday loans and short-term loans for up to P25,000 and 30-day loan term.
Its aim is to provide not just fast, easy, and reliable online loans but also financial tips for the Filipinos.
How to Apply for an Online Loan with RoboCash
Download the app on Google Play Store. Unfortunately, this is not yet available on Apple users.
Open the app after download. The welcome screen will introduce you to the app as well as brief background on how it works. Just click Continue and then Done.
In the landing page, navigate the arrow depending on how much money you plan to borrow. For first-time borrowers, you will only be allowed to borrow up to P10,000. The amount could go higher if you become a repeat borrower.
As you navigate the button, you will see how much money you need to return. If you’re ready to apply, click Apply Now.
On the next screen, choose your ID and gender. Type your current address as well.
Allow RoboCash to access your location, phone, and contacts to continue with your loan application.
Fill in your employment details.
Choose your bank.
Choose between online or offline option on how to claim the money you borrowed. Between the two, online loan is the most convenient options since you don’t have to go to their office to claim.
If you chose online loan option, then input your bank name, account name, and account number. Don’t forget to tick the box that says you understood and accepted the loan contract. Then, click Confirm.
Wait for the money to be deposited to your account. Usually and depending on the bank, money will be deposited within one to two days from successful application.
There are tons of online cash lenders available in the market these days. If your favorite mobile app is slowly failing you despite borrowing with them more than once, then you need to look into other options.
One of your available options is PondoPeso.
Check out this post to learn more about this online cash lending app and find out how to apply in case you need quick cash:
What is PondoPeso?
According to their website, PondoPeso is a “unique fin-tech platform” that provides users with financial mobility, whenever, wherever. It is also based on mobile internet security technology as well as big data analysis innovation to check and validate your credit information.
Online cash lenders are proliferating these days, thereby giving people more options when it comes to quick loans.
That being said, why choose PondoPeso?
Allows you to borrow up to P40,000, which may be repaid within one year.
Fast approval, which could range from eight minutes to one hour as per website.
No paperworks or documents that you need to submit.
All you need to submit is just one valid ID.
Step-by-Step Procedure on How to Apply with PondoPeso
Step 1: Download the app. Apparently, PondoPeso is only available to Android users.
Step 2: Once you downloaded it, open the app and click Allow, which lets PondoPeso access your phone’s photos, media, and location.
Step 3: Enter your mobile number. This will ensure that you are using a verified mobile number.
Step 4: Once your mobile number is confirmed, you will automatically go back to the landing page. Click “I want to borrow” and don’t forget to tick the “I Agree” box to proceed with your loan application.
Step 5: Fill out the information needed, starting with Personal Information, and Emergency Contacts. Make sure you are truthful as possible when asked for your information to avoid complications later on.
Step 6: Upload a copy of your ID. Make sure that your ID matches the information you provided in your online application form.
Step 7: Upload a selfie while holding your ID.
As soon as you completed these steps, your loan application will be forwarded to the PondoPeso system where a representative will review your application. A PondoPeso representative will contact you anytime, so make sure you have your phone on hand.
If approved, you will be asked to choose a method to transfer money. You have the options to have the money:
Deposited in your bank account
Get from the remittance center
Tips to Remember when Applying for an Online Cash Loan with PondoPeso:
PondoPeso is only applicable to Android users. The app is not available to iPhone users as of this writing.
You must be 18 years of age and above to be able to apply for an online cash loan with PondoPeso.
Make sure you use a government-issued ID. Providing a clear ID is also a must so that PondoPeso representatives can easily verify your information.
Provide all the necessary information being asked. This will make it easier to evaluate your loan application.
In case you’re looking for an alternative, you might want to consider PondoPeso. Take note of these tips for higher possibility of getting approved.
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. Step 2: Once installed in your mobile phone, choose your preferred language. Step 3: On the landing page, click Personal. The Personal tab will also reflect your personal infomation as well as the status of your orders. Step 4: Click Login / Register Step 5: Enter your mobile number and preferred log-in password. Then, click Create Account. Step 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. Step 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.
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. Who 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 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
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:
Fill out the loan application form. You can get a copy of the application form here.
Submit the compulsory and corresponding additional requirements together with the application form at Esquire Financing, Inc.’s main office.
Fill out the Business Loan Inquiry form.
A confirmation message will be sent to your email address.
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.
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.
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? Launched 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:
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.
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.
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.
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.
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.
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
Livelihood or additional working capital for business
Purchase of appliances or gadgets
Payment of bills
Additional funds for vacation or travel
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:
Fill out the application for Multi-Purpose Loan. You can get a copy at any PAG-IBIG branches or get a copy here.
Submit your loan application to the nearest PAG-IBIG branch.
Submit other documents such as valid government-issued ID and photocopy of payroll account, disbursement card, or bank account for disbursement.
Wait for the PAG-IBIG representative to give you a feedback regarding the status of your loan application.
Who do you run to when you need cash? Family and friends will always be your first options because:
they can be found easily, which means borrowing money is easy as well;
there is no interest rate imposed; and
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 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:
Fill out the application form.
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.
Submit the application form and IDs at the SSS branch nearest your office or place of residence.
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 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:
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]
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?