There are a lot of people in the Philippines who have a bad credit history. This is usually because they have missed their loan repayments or have some unpaid debt on their credit reports.
But there are still ways to get a loan even with a bad credit history. Fortunately, there are a few tried-and-tested loan providers that can help you out in your time of need.
Blend PH Auto Sangla
Blend PH is a reputable online loan company that offers fast and convenient personal loans. Its peer-to-peer funding platform allows borrowers to connect with lenders who have a desire to fund their goals, and investors to earn through investing in short-term loans.
Unlike traditional bank loans, Blend Philippines accepts applicants with bad credit. This is due to the fact that they have more risk tolerance and are willing to lend to a greater percentage of applicants than other banks.
They also offer a variety of loan products that range from fast personal loans to salary and franchise loans. Their online application process is quick and easy, and they can usually process your loan request within 24 to 48 hours.
You can apply for a loan amount ranging from P50,000 to P2 million, and you can pay your loan amount over 12, 18, 24, or 36 months. The interest rate on these loans varies depending on your credit score, so make sure to check your eligibility before submitting an application.
If you’re a Filipino sailor, you can also avail of the Blend PH Seafarer Loan. This can help you cover your departure costs or your family’s needs while abroad. You can borrow between 50 and 500 thousand Philippine pesos, with an interest rate of 2.5% per month. This loan can be applied for anytime and anywhere in the Philippines, provided you provide a beneficiary form, POEA-stamped contract, and sailor’s identity card with your sailor’s book.
Getting a loan is always easier when you have the right information. You can use a loan calculator to determine your creditworthiness and estimate how much you can borrow. You can also submit complete requirements and a fully-filled-out application form to increase your chances of getting approved.
SB Finance Car4Cash
SB Finance is a lending firm that offers personal and car loans. It offers a variety of loan products through its Zuki mobile app.
The app allows customers to apply for several different loans, including Hooloogan, MotorsikLOAN, and Car4Cash. It is available for both iOS and Android devices.
It also provides customers with the tools they need to make smart money decisions, stay on budget, and reach their financial goals. This makes it a good choice for those who are looking to improve their credit score and build a healthy financial history.
To get started, users must create an account on the app. Once they do, they can select the services that best fit their needs.
They can choose between a cash line, which is a loan that they can use to buy from partner stores and repay in easy installments; a personal loan of up to P2 million; a vehicle loan, which gives them access to cash for their cars’ official receipts and certificates of registration; or a motorcycle loan, which gives them the opportunity to purchase the bike of their dreams for as low as 1.2% monthly interest rate for medium/high-end bikes and 2.47 percent for regular bikes.
In addition to these loans, SB Finance also offers a service called eSALAD. This is a digital lending institution that helps employees advance on their next salary by providing them with a loan that they can easily pay back.
To be eligible for a madali loan application loan, you must be a Philippine citizen and have proof of income. You must also submit a valid ID or passport and a copy of your driver’s license or government-issued ID.
Global Dominion Financing Inc.’s OR/CR Sangla
GDFI offers a variety of loan products that are available to Filipinos around the world. These include loans for car purchase (auto loan, ORCR sangla), business capital (business loan), tuition fee, home improvement, emergency & medical expenses and even loans for physicians (Doctors loan).
The company has been in the financial services industry for 18 years, and they have helped many Filipinos achieve their goals by offering innovative financing solutions. With over 60 branches and a robust online presence, GDFI is ready to serve their customers.
Their loan products range from a small loan amount to large amounts of money, with interest rates that are affordable and manageable. The company also offers a range of convenient repayment methods, including the loan calculator and over-the-counter payments.
This particular product is a secured loan that requires the applicant to submit the official receipt (OR) and certificate of registration (CR) for safekeeping until the loan is paid off. Moreover, the borrower must be a Filipino citizen and have a documented source of income.
The OR/CR Sangla loan is an affordable secured loan product that is designed to help you get the cash you need without having to pay your vehicle off first. To apply, you must submit a copy of the latest LTO-issued Official Receipt (OR) and Certificate of Registration (CR) for safekeeping.
This loan is the best that GDFI has to offer, and it’s one of the most popular in the Philippines. It allows you to get the cash you need while still allowing you to keep your vehicle, which is a major plus for most people who need a loan. It also has no credit check, which is a major plus for those with bad credit.
Radiowealth Finance Company’s Cash Loan
Radiowealth Finance Company, also known as RFC, has been in business since 1964 and offers a variety of loan products. These include personal loans and business loans to entrepreneurs who are looking for more funding.
The RFC cash loan is a popular choice for many Filipinos, especially those who are struggling financially. It provides an affordable way to access money without paying too much interest, and can be used to pay for anything from a wedding to renovating a home.
To apply for a loan, you’ll need to complete an online application form and provide information about your current income, your credit history, and a few additional documents. These may include 2 valid IDs, a utility bill, a recent payroll, and a barangay business permit.
Once you’ve met these requirements, you can apply for a loan on the RFC website. The company will then consider your application and make a decision.
The company accepts a wide range of applications, from those who are a permanent resident or foreigner in the Philippines to those who are self-employed and have been doing so for a number of years. It is also a great option for those who are looking for more flexible payment options than a bank.
Another reason why Radiowealth Finance Company’s Cash Loan is a good choice is that it offers a variety of loan types and is easy to use. These include personal loans, working capital loans, inventory financing loans, and contractor’s loans.
These types of RFC loans are ideal for small businesses in the Philippines who are looking to expand their operations. They offer different amounts and repayment periods, so you can choose the one that’s right for your needs.
If you’re looking for a loan that can help you cover expenses without having to worry about credit history, Tala Finance Company is one of the many options available. You can apply for a Tala loan online, and you’ll receive the funds in about 24 hours.
According to the company, it uses machine learning algorithms to determine if a customer is a good risk and can repay the money they borrow. This process involves analyzing user data from texts, calls, sales transactions, application usages and personal identifiers.
In addition, Tala also bases its lending decisions on test data that the company gathers from customers who sign up for a free trial. This helps borrowers establish their digital credit histories, encourages entrepreneurship and promotes access to credit in emerging markets.
The company has more than 6 million users in its four main markets (Kenya, Mexico, Philippines and India) and claims to have disbursed $2.7 billion since 2014. It offers loans to people who have been previously denied by traditional lenders because of their poor credit score.
Tala offers loans from P1,000 to P15,000. It also allows borrowers to choose repayment durations from 15 days to 61 days. It charges interest rates ranging from 5% to 11%.
When you’re ready to apply for a loan, all you need to do is download the Tala app on your smartphone and provide your contact information. You will then be sent a four-digit PIN to verify your details. After you’ve completed your application, you’ll be notified of your loan decision by SMS.
You can also choose to pay the loan back via your mobile phone or bank card. You can also check out the app’s library of financial articles to learn more about your finances and payment plans.