Maricor Bunal
We just can’t help it. Emergencies can strike us anytime and, at worst, when we’re already tight on the budget. Lucky for those who were able to save up some money for emergencies, they’ve already created a safety net for themselves. But for those who really don’t have enough cash to get by, the fastest solution would be to borrow money. But where should you start?
For starters, here’s a WARNING: Avoid borrowing from LOAN SHARKS! They’ll only drag you deeper in debt with their high-interest financing offers.
How to spot a loan shark?
Research is the key to identify a loan shark from a reliable provider. Before you sign up to any credit offers, make sure to check the local or national register of authorized financial providers. The ones who aren’t in the list are most likely illegal or not reliable enough.
Be a wise borrower! Refer to one or two of these reliable providers to get the money you need fast:
Friends and relatives
Of course, this is the first option if you don’t like to undergo the hassles of gathering up too many documents, background checks and credit history assessments. In times of great need, it’s really our friends or relatives who can help us out without expecting to earn from us or even demanding us to repay the amount in a specific period of time. However, if they don’t have enough cash to spare as well or the money you sourced from then isn’t enough, you can borrow from banks and private lending firms.
Banks
Commercial banks offer a wide array of financing solutions for those who qualify their requirements. Although banks have specific standards borrowers should pass, they offer attractive perks such as ease of payment, reasonable rates and flexi-terms. You also have the choice to get a collateral or non-collateral loan. Specifically, the following are the top five banks you might like to consider reaching out:
a. BDO
c. BPI
d. Chinatrust Commercial Bank Corporation
e. Development Bank of the Philippines
Private Lenders
Aside from banks, there are also reliable private lending companies you can turn to in times of need. They offer multi-purpose loans, be it collateral or non-collateral. Whether you’re looking for an SME Loan or personal loan solution, you can rely on these two providers for fast cash in the Philippines:
How to Get Financing Fast?
Unless you opted to borrow from friends or relatives, applying for a loan usually takes effort and time as you need to undergo evaluation and background checks first. But there’s actually a way to make the application a lot easier. Just follow Loansolutions PH’s 3 Step Loan Application Process and the firm’s loan consultants will do the processing for you. Then, just sit back and wait for the confirmation update.
