** Cash Loans OFW Lending Manila **

 

TERMS & CONDITIONS (PLEASE READ)

Borrower Requirements:

  • You need to be employed in your current job for at least 1 yr (some loans may require longer). If you own your own company, you need to show positive income for at least one year.
  • Older than 21 yrs old, and the end of the loan term must be earlier than your 60th birthday.
  • You are in good credit standing.. no outstanding court cases where you failed to pay a debt, or if you are late paying a credit card or other loan. If you settle the debt, you can then apply as long as you provide proof of settlement.
  • Foreigners: (Non-Filipino Citizens) You must be married to a Filipino.
  • OFW's: You can apply for any loan, but you'll need a co-borrower living in the Philippines, and you'll need to sign in person unless you assign Power of Attorney.
  • Self-Employed: Your business must be operational at least 2 years
You will need to supply original documents showing some basic information proving who you are and information about your salary and bank account:
  • Gov't issued ID (Passport, Driver's license, TIN etc)
  • Certificate of employment with salary listed
  • Latest Payslip
  • Latest bank statement(s)
If you own your own company and are applying for a loan, you'll need to show information about your company:
  • DTI/SEC Registration
  • 6 months bank statements
  • Audited financial statements
  • ITR: Income Tax Return
  • Trade References (depends on the Lender at the time of application)
As a general rule, the Lender will not let you take a loan that results in a monthly loan payment that is more than 30% of your monthly gross income. There are 2 ways of increasing your loan amount:
  • Find a co-borrower to sign your loan papers with you, and you can add their monthly salary to yours
  • Show proof of additional revenue through businesses or rental properties. If through a rental property, you'll need to supply the Land Title and Rental Contract
  • ·  Am I eligible to get a Manila Lending Cash Loan?
    You are eligible if you are:
    - Filipino
    - between 21-60 years old upon loan maturity
    - employed with a minimum income of P20,000 or P50,000 for self-employed
  • ·  Where do I apply for a Manila Lending Cash Loan?
    You may apply by Email, Telephone or Text Message because for your convenience and security issues...We Come To You!
  • For more information, you may email us at enquiries@manilalending.com  or call 0917-8501736 or 0918-4533295
  • ·  What are the application requirements?
    You just need to submit a completely filled out application form, proof of your income and valid identification cards. For more details on application requirements, click Apply Now!
  • ·  How much can I borrow?
    You may get from P10,000 to as much as P50,000, or up to 3 times your gross monthly income, subject to the Lender's approval.
  • ·  How much will be my monthly installment?
    Your monthly installment will depend on your chosen amount and term. Please see the amortization table below for the monthly installment that fits right into your budget.
  • What happens if I fail to pay my monthly installment?
    Your unpaid amount will be charged a late payment penalty fee of 5%. For example, if you missed paying your monthly installment of Php1,000, you will be charged a late payment penalty of Php50. Your total amount due will now be Php1,050 if paid within the same month.
  • What happens if I cannot pay back the Loan?
    First, you will need to be honest and contact us immediately, so that we can assess your situation and work out a Scheme of Arrangement for you. Your unpaid amount will still be charged a late payment penalty fee of 5%, and unfortunately your debt to us will increase monthly until completely settled, as you will still be charged interest and the Late payment Penalty. Needless to say, you should not borrow if you do not believe you are in a position to repay your loan.
  • Can I prepay my loan in advance?
    You may prepay your loan anytime without any pre-termination penalty and fees. Pay only your outstanding principal balance and interest due as per your loan agreement, if you decide to pay off your loan earlier than maturity date.
  • What is Your Renewal Policy?
    All Renewal of Loans or Extensions thereof will be treated as New Loans and therefore the same procedure for your initial loan will be repeated.
  • Is there an application fee?
    Unlike the Banks who will state something like "A minimal one-time processing fee of Php1,500 will be deducted from your loan proceeds once you avail the loan." - Manila Lending DOES NOT CHARGE AN APPLICATION FEE!
  • Is it available in Metro Manila only?
    Yes. A Manila Lending Cash Loan is initially available in Metro Manila only.
  • Processing Fee - No up-front fees!
  • Prepayment Fee - Never Be Penalized!
  • Never be penalized for paying off your loan earlier than your maturity date.
  • Pay only your outstanding principal balance and interest due as per your loan agreement, if you decide to pay off your loan earlier than maturity date.
  • Late Payment Penalty - In case you forget to pay your monthly installment on time, the unpaid amount will be charged a late payment penalty of 5% per month.
  • Documentary Stamp Tax - For loan amounts greater than P250,000, the amount equivalent to P1.00 for every P200.00(or a fraction thereof) will be deducted from your loan proceeds. If your loan will be used for your business, documentary stamps tax shall apply regardless of loan amount.
Lismoyne Enterprises Inc. T/As Manila Lending Manila 1004
PLEASE NOTE: MANILA LENDING OPERATES UNDER THE PROVISIONS OF THE PHILIPPINES REPUBLIC ACT No. 9474 (May 22, 2007) which is known as The Lending Company Regulation Act of 2007 wherein all such requirements are adhered to as is required within the Act.

 

CALL NA! Tel: 0917-8501736 or 0918 - 4533295

Email: enquiries@manilalending.com

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