• You need to be employed in your current job for at least 1 yr (some banks 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 65th 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.
• Some banks only cover certain areas for loans in the Philippines
• Foreigners: You must be married to a Filipino. Only a few of our partner banks will allow a car loan without being married. All other loan types don't allow a foreigner to apply
• 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, etc)
• Certificate of employment with salary listed
• Latest Payslip
• Latest bank statement(s)
• Tax Return: Not all banks require this

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 bank)

As a general rule, the bank 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

Gadgets on Installment: This loan is limited to a 12 month term and for Metro Manila only. You only need to show that you are a regular employee, and you DO NOT need to have a credit card in your name (a requirement of many banks offering personal loans). This entire application process can be done from your home. You will apply and upload a few requirement documents, and we'll contact you to verify and set up a loan approval appointment. The credit investigation officer will come to your house for credit check, original document verification, collection of 20% down payment, and endorsement of your new gadget. We are currently offering roughly 300 different products, and here are some examples:

• Apple iPhone, iPad, iPod
• Games: Playstation PSP3000, PS3, Xbox, Nintendo
• Cell Phones: Blackberry, Samsung, Nokia, HTC, MyPhone, SonyEricsson
• Computers / Laptops: Lenovo, Toshiba, Acer, HP, Dell, Sony, Apple
• Digital Cameras: Canon, Nikon, Sony
• TV and Home Theatre: Samsung, LG, Sony
• Home Karaoke WOW systems
• Aircon and Appliances: LG, Samsung,
• Office Equipment: Copiers, Printers, Projectors

Personal Loans: These are loans are not secured and not collateralized, but the requirements are much more rigid in order to qualify. There are many more documents that you will need to supply, and longer work history is required. Your personal loan can be used for almost anything. We find that most people use it for debt consolidation. Many people take out high interest loans (think 5-6) or let their credit card get out of control. If you have a lot of debt, but can prove consistent and stable income, this lower-rate loan can help you get ahead of your payments. You can also use the loan to pay for tuition for your kids, home improvements, birthdays or Christmas. In some cases people even use it to visit family or go on that long desired vacation! It is really up to you how you spend it, but we always advise sound financial planning.

A personal loan is also good method to prove to the banks that you are solid financially. If they see a perfect repayment history for your loan, you are much more likely to be approved for bigger and better items in the future. If you will eventually be in the market for a new car or even your first home, your likelihood of approval will increase.

Home Loans: Generally the banks are more conservative in the Philippines with home loans. This is the loan that needs the most planning since you can be approved for terms up to 25 years in some cases. You need to convince the banks that you will have that income for the length of your term. The programs offered by the various banks can be confusing, so we can help you understand what all the terms mean. Your "Re-pricing" decision will be the most confusing. You can lock into a lower rate initially that will expire after a certain and will adjust to the market. We can walk through a few scenarios to help figure out what is best for you.

Business Loans: This particular type of loan only applies to business that are already up and running. This is not venture capital, or business-launching type of (high risk) funding. Often times a business will need some extra cash to expand operations, or cover a cash flow gap. These are the types of businesses that will be approved for this type of loan. Also, these are shorter term, often 6 months. Since the risk is higher, the finance companies want to see that you prove your ability to pay. Then, you can typically renew the loan.