Frequently Asked Questions

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​​1.) Why choose Loan Up?

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• We are 100% Filipino owned.

• We have very competitive interest rates of five (5%) per month.

• We have one of the lowest admin charges (100 pesos).

• Reasonable late payment fees.

• Fast approval for qualified applicants.

• Registered with the SEC and AMLC

• Regarding collections: We do not threaten. We do not harass. We do not humiliate. We preserve our client’s privacy and dignity. Instead, we collect unpaid obligations in accordance with law, through legitimate court processes.

 

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2.) What are the qualifications to be eligible for a loan?

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1. Filipino citizen.

2. At least 23 - 60 years of age.

3. Stable job (at least 6 months employed) or owner of a registered business (at least 1 year).

4. Residing in the same place for at least 2 years. 

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3.) What are the documentary requirements that must be submitted?

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   1. 2 Government IDs

   2. Proof of Income

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          If employed:

             a. Employment contract

             b. Latest payslip​

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          If business owner:

             a. SEC or DTI registration

             b. Latest financial statements

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​​4.) How much is the amount that may be loaned?

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The loan amount may be anywhere between Php 5,000 to Php 20,000. 

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The amount granted will depend on the loan amount that you requested, and on the applicant's capacity to pay, based on our credit investigation. 

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5.) What are the available terms for loan payments?

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The payment terms could be anywhere between 1 to 6 months. ​​

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6.) ​What are the advantages of having a shorter or longer payment term?​​

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If the term is shorter, the total amount due will be smaller, but the monthly payments will be larger.

If the term is longer, the total amount due will be larger, but the monthly payments will be smaller. 

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7.) What are acceptable purposes for the approval of a loan?

        

Considering Loan Up’s mission to help the Filipinos in need, we will prioritize borrowers who need money for the following:

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• Medical emergency and medical expenses

• Tuition fee and educational related expenses

• Expenses due to calamities

• Payment of utility bills

• Small business loans

• Other similar essential and urgent expenses

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Depending on our remaining reserves, we may grant loans for the following purposes:

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• Non-essential purchases

• Travel and leisure

• Special events / celebrations.

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8.) What is the loan application process?

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1. Call us at +63 956-293-6736 and our representatives will send you the application form. 

2. Fill up the application form and submit. Don't forget to submit it together with the required documents. ​​​​​​Only applications with complete requirements shall be processed. 

3. Wait for an email and/or SMS confirmation and pre-approval. ​

4. Undergo credit investigation. ​

5. Release of funds.

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​​9.)How long does it usually take before the loaned amount is released?​

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The usual period takes 2 to 4 working days from submission of complete requirements. 

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​​10.)What are the documents that an approved applicant must sign?

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1. Loan Agreement.

2. Promissory Note.

3. Authority to undergo credit investigation.

4. Client Application Form.

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​​​11.) What is the monthly interest?

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The interest on the principal amount is six (6%) per month. ​​​

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​​12.) Is the interest compounding?

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Yes.

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13.) How much is the Administrative Fee?

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The administrative fee is a onetime charge of Php 100 per month payment term. Thus, if the payment term chosen is one month, the administrative fee is Php 100. If the payment term chosen is 3 months, the administrative fee is 300 pesos. ​

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​​14.) How can our clients pay their loans?

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The borrower may pay through:

1. Accredited bank accounts,

2. Gcash or Maya,

3. Over the counter at our office.

4. Personal collection made by our collectors upon request, subject to a fee of Php 20-Php 50. 

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​​15.) What are the factors that increases the chance of being approved?

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1. Previous re-payment of loan. 

2. High monthly income

3. With existing credit card 

4. With professional license (medical, engineering, architectural, etc.)

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​​16.) ​Can I apply for a loan while I have an existing loan with Loan Up?

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Yes, provided that your current loan is 75% paid. In such case, no re-submission of requirements is required. 

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Feel free to contact us for any questions through our hotline 0956-293-6736, or via email at info@loanuplending.ph

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