Your independent loan comparison!
Your independent loan comparison
Emergency Loans Philippines
Do you know who you would go to when you need an emergency loan in the Philippines? The truth is that about 77% of Filipinos are still unbanked. That means that these people cannot simply walk into a bank and take out an unsecured loan when they have an emergency.
Fast information
Properties of this loan
- Mabilis na online na proseso ng aplikasyon
- walang nakatagong bayarin
- simpleng proseso
- bukas 24/7
Loan requirements
- Dapat ay nasa pagitan ng 20 at 70 taong gulang
- may bank account sa isang institusyong pampinansyal sa Pilipinas
- may aktibong mobile phone
Fast information
Properties of this loan
- Online loans up to ₱20 000
- Term 14 - 28 days
- Easy online application
Loan requirements
- 22 - 60 years old
- Filipino citizen
About company
More information about the company MoneyCat Financing Inc.
Fast information
Properties of this loan
- Online loans up to ₱15 000
- Term 91 - 2 years
- Easy online application
Loan requirements
- Age 18+
- Bank card
- Mobile phone
- The Philippines citizenship
About company
More information about the company SIA ROKSORE
Fast information
Properties of this loan
- Online loans up to ₱25 000
- Term 10 - 90 days
- Easy online application
Loan requirements
- 21-70 years old
- Employed individuals and selected professionals
- Filipino residents
About company
More information about the company Robocash Finance Group
Fast information
Properties of this loan
- Online loans up to ₱10 000
- Term 1 - 3 months
- Easy online application
Loan requirements
- At least 18 years old
- Has a stable source of income
- Has a valid government ID
About company
More information about the company Loan Ranger
Fast information
Properties of this loan
- Online loans up to ₱300 000
- Term 6 - 32 months
- For all Kabayans who still call Philippines home
Loan requirements
- Must be employed as OFW.
- 21 years old or older
About company
More information about the company Clarify Marketing PTY LTD
Fast information
Properties of this loan
- Online loans up to ₱25 000
- Term 7 - 30 days
- Easy online application
- Instant decision
Loan requirements
- Customers need to be at least 21 years old
- Be employed
- With a valid home address in either Metro Manila, Cavite, Bulacan, Rizal, or Laguna. .
About company
More information about the company My Cash
Fast information
Properties of this loan
- Online loans up to ₱20 000
- Term 30 - 90 days
- Easy online application
Loan requirements
- Person must be 22 – 60 year’s old
- Citizen of Republic of the The Philippines
- With monthly income
- Active Mobile number
- Active Bank account
- Valid ID document
About company
More information about the company Fintech Global Partners LP
Fast information
Properties of this loan
- Mabilis na online na pautang
- walang nakatagong bayarin
- simpleng proseso ng aplikasyon
- bukas 24/7
Loan requirements
- Dapat ay higit sa 18 taong gulang
- residente ng Pilipinas
- may bank account para sa pagtanggap ng pera
Fast information
Properties of this loan
- Mabilis na online na microloans
- walang nakatagong bayarin
- simple at mabilis na proseso ng aplikasyon
- bukas 24/7
Loan requirements
- Dapat 18 taong gulang pataas
- nakatira sa Pilipinas
- may bank account para sa pagtanggap ng pera
About company
More information about the company Traffic Control OÜ
Fast information
Properties of this loan
- Mabilis at online na proseso ng aplikasyon
- walang nakatagong bayarin
- ligtas at secure na serbisyo
- walang epekto sa iyong credit history
Loan requirements
- Dapat ay higit sa 18 taong gulang
- residente ng Pilipinas
- may bank account sa anumang bangko sa Pilipinas
- may aktibong numero ng telepono
About company
More information about the company Traffic Control OÜ
Fast information
Properties of this loan
- Mabilis na online na proseso ng aplikasyon
- walang nakatagong bayarin
- ligtas at secure na serbisyo
- walang epekto sa iyong credit history
Loan requirements
- Dapat ay nasa pagitan ng 18 at 70 taong gulang
- residente ng Pilipinas
- may bank account sa anumang bangko sa Pilipinas
- may aktibong numero ng telepono
About company
More information about the company Fininity Ltd
Fast information
Properties of this loan
- Mabilis na online na proseso
- walang nakatagong bayarin
- walang kolateral o garantor
- bukas 24/7
Loan requirements
- Dapat ay nasa pagitan ng 21 at 70 taong gulang
- Pilipinong residente
- may valid na government ID
- may aktibong numero ng telepono
About company
More information about the company Digido Finance Corp.
Fast information
Properties of this loan
- Mabilis na online na microloans
- walang nakatagong bayarin
- simple at mabilis na proseso ng aplikasyon
- bukas 24/7
Loan requirements
- Dapat 21–70 taong gulang
- nakatira sa Pilipinas
- may aktibong personal na bank account o e-wallet
- may valid na ID tulad ng Passport, National ID, Driver’s License, SSS, UMID, Postal ID, o PRC ID
About company
More information about the company Cash-Express Philippines Financing Inc.
Emergency loans in the Philippines, and most of the world, are a big part of the economic fabric. A huge chunk of the world isn't as financially secure as they would like to be and as such, turn to emergency lenders to make ends meet. Filipinos are not exempt to this rule as a huge section turn to various online lending facilities for short-term loans.
How Much Do Filipinos Depending on Emergency Loans?
The fact of the matter is that the microfinance market, on which a majority of the unbanked depend, can only cater to a certain type of customer. Yes, many short-term loan lenders don't have stringent requirements (at least not as stringent as most official banks) but they still do have some standards. For example, in the Philippines, many online lenders:
- Cater to citizens who have a monthly income that can be verified. That's how they know you can pay back what you borrow.
- Can lend out huge amounts of money but tend to limit their main portfolio of clients to small loans of between 5,000 - 25,000 pesos.
- Allow their customers to make daily, weekly or even monthly payments and don't charge for early repayment.
- Have varying interest rates depending on the vendor.
For the most part, these lenders cater to customers who don't have a good standing with the banks or official credit rating bureaus but still make a living and can service their short-loans. A growing trend has seen many Philippine women take up borrowing from online emergency loan lenders to either fund their businesses or keep their families afloat. About 85% of this market is made out of Philippine women who make about 25,000 pesos.
Another interesting fact is that about 45% of the emergency loan recipients in the Philippines have one form of higher education or another while about 44% of the recipients only have a high school education. The biggest reason for these emergency loans is "small business maintenance".
You will find that the people who apply for these emergency loans own repair shops, hairdressers and tailoring shops among many other small businesses. These are basically people who don't have the time nor the inclination to go through the strict and often lengthy verification process imposed by formal banks and therefore opt for emergency cash lenders who have a quick turnaround.
Emergency cash lenders in the Philippines have managed to capture a huge chunk of the market because most of them will process and disburse the loan request in less than an hour or just within a day of the loan application. That kind of turnaround time works perfectly for both small business owners and informally employed Filipinos who often need the cash almost instantly.
Unfortunately, the market is fraught with a large number of scammers who are looking to capitalize on peoples' desperation. The trick, therefore, is in finding the right kind of emergency cash lender. Someone who is not only quick with the turnaround but also offers relatively friendly repayment terms that wouldn't further hurt the small businesses.
