A credit history is information about all loans that a borrower has previously taken out. Banks and other similar organizations always check such information before issuing a loan to ensure the integrity of the new client. It is possible to take a loan without a credit history - you need to contact the money lending company. If the debts were repaid on time, the credit history is considered positive. The untimely repayment of the debt leads to the fact that the story becomes negative, and its owner faces serious obstacles when applying to the bank for a loan.
In this case, many financial institutions may refuse to issue loans, even if the potential borrower meets all other requirements - has an official salary, provides a complete package of documents, or finds guarantors. Of course, you can try to get a mini loan on a bank card without checking the credit history of a private person - a relative, friend or colleague. But if this is not possible, the only rational solution to the problem will be to contact the money lending company.
Lending are companies that provide small loans for a short period of time in just one day. That is why their services are usually used as urgent financial assistance until the next paycheck. Almost all categories of citizens of the Philippines, including those with informal income, can apply to lending companies. One of the main conditions for applying is the age of majority, although some companies increase the lower age threshold by several years.
An indisputable advantage of microcredit organizations is a loyal attitude towards borrowers with a damaged credit history. Despite the fact that it is impossible to take a personal loan without credit check in any institution, many money lending companies are ready to consider applications from clients who have outstanding debts or late payments on other loans. Such companies present a minimum list of requirements for people who want to apply for a loan from them.
Instead of a long list of documents required to apply to a bank, all you need here is a Filipino passport and TIN. Also, the borrower must have a bank card issued in his name, a personal phone number and access to a device with Internet access. The application can be submitted both from a home computer and from a smartphone or tablet. At the same time, you do not need to visit the money lending company branch - registration and disbursement of funds are carried out remotely.
It is enough for the client to spend about 15-20 minutes filling out a small questionnaire on the company's website. After that, the application will be processed automatically or manually (from a few minutes to half an hour), and the funds will be credited to the card almost immediately after the approval of the loan to the card. The high speed of microfinance organizations is a huge advantage in cases where you need to borrow money urgently without checking your credit history.
The procedure for applying for a microloan is as follows:
In addition, you can usually fill out an application at any time of the day, since the sites of these companies work around the clock. Some money lending companys check the questionnaires of potential borrowers using an automatic system (without the participation of employees), so in emergency situations, funds can be received even at night. In other cases, the questionnaire filled out at night will be processed during the working day.
Today, there are a huge number of microfinance offices in the Philippines where you can get a loan on a card without checking your credit history. Due to the diversity of lenders, the search for the best offer can be delayed. Therefore, in such a situation, it will be most convenient to resort to the services of a special free service for selecting lending companies with favorable lending conditions - including, you can take a loan with delinquency in lending company.
Our website contains a large list of verified organizations with minimum requirements for borrowers and a low percentage of refusals. Here you can quickly view all the offers from our partners and choose the best option. And in order to increase your chances of loan approval, it is recommended to select several microfinance companies at once and send applications to them.
Radiowealth Finance Co Lopez Avenue, Paranaque City, Metro Manila
Buenavista Financing 583-C Quirino Avenue, Paranaque City, Metro Manila
South Coast Finance Presidents Avenue, Bf Homes, Paranaque City, Metro Manila
Bestloan Credit Perpetua Building, 8434, Dr. A. Santos Avenue, Paranaque City, Metro Manila
Ab Leisure Exponent, Incorporated Elorde Sports Center, Dr A Santos Avenue, Paranaque City, Metro Manila