We all know that getting a fast loan is easy. Within a day, hours, and even within minutes, you can already get one!

However, you need to follow the process, no matter how simple it is. And even if it doesn’t require much, there’s also a probability of getting declined! I bet you don’t want this, especially on the times that you need it the most! To avoid this, make sure to follow below tips!

1. Always Prepare Basic Documents.

Even if you’re not getting a cash loan right now, you can still prepare this in advance! Because these documents are necessary, important, and usually asked as a minimum requirement in other legal processes. You can always compile this in a clear folder or keep a photo or scanned copy on your cellphone or online storage. So at the moment of needing this, it will be accessible as always!

  • Two valid ID’s
  • At least three months payslip if you’re employed or recent bank statement if you’re self-employed
  • Billing statement as proof of address

2. Know How Much You’ll Borrow!

There are times that whenever you’re in an emergency, you became impulsive. There are times that you become tempted because of a specific need. In getting a cash loan, make sure to be responsible for the amount that you should only borrow.

Let’s take an example:

Let’s say you’re monthly income is 15,000 pesos and you’ll be borrowing 20,000 pesos payable within two months. 20,000 pesos/ 2 months means, you’ll pay 10,000 monthly excluding interest. In this case, you only have an extra 5,000 pesos for yourself. By self-assessment, do you think this money still suits your other personal expenses?

Responsible lenders will assess your finances and will not allow you to borrow money if you’re not capable of paying off.

So when borrowing money, make sure that you can pay how much it is without breaking your bank! You can always use a loan calculator. This will help you approved in getting a fast loan.

3. Have a good credit standing.

According to LAWPHIL, Philippine Law and Jurisprudence Databank, “A credit report refers to a summary of consolidated and evaluated information on creditworthiness, credit standing, credit capacity, character and general reputation of a borrower.”

There are two options where you can get a credit report in the Philippines, Credit Information Corporation and CIBI. CIC is the central repository of credit information in the whole country, while CIBI is the Philippines’ only Filipino credit bureau.

According to CIBI, getting a score of 680 means, you have good credit while getting lower than that means you still need to improve.

It may sound technical but no worries, even you alone can assess or have an idea whether you have a good or bad one. Just by asking yourself if you have applied for a loan before or you have an existing loan? Did you pay it on-time or do you have any past dues?

A credit score may not always be a requirement, but this is a plus!

4. Always be truthful.

In dealing with financial institutions or fintech, always be truthful. All the information or details that you’ll submit should be correct and not falsified. Provide accurate information because every accurate detail leads you closer to getting approved.

Plus, you don’t want to get a headache and get banned from lending companies.

5. Decide Which Loan is Best For You

No matter how you need the cash, always check on the best option! Create at least two to three options that you can compare. Here are some factors that you can consider:

  • Company stability. Is it registered with SEC? When does it start operating? What are the customers or borrowers saying about them?
  • Interest rate and charges. What’s the lowest interest rate among the options? Are there any additional charges? What’s the interest if you don’t meet the payment due?
  • Flexibility. What’s the maximum due date do they require? Are there options or none? Does it match your cash source for the payment also?

Sometimes You Just Need a Fast Loan!

If you notice, these tips are simple, and you can always make sure to have it even if you don’t need a cash loan right now.

Remember, an emergency will always be an emergency. You can’t stop it from happening! So when the time comes that you ran out of cash and you really need some extra, you’ll not be having difficulty in getting an approval!

And in case you’ll need one, we can help you in Pahiram.

We are a lending company started last (indicate date) with a mission of helping every Filipino in solving their problem on their life emergencies. So whether you broke your car, had an unexpected bill, medical expenses, we’ve got your back! We offer a low-interest rate within five minutes application only!

Check on the home link to apply or on the about page to know more who we are and how we can help you!


CIBI Information Inc. (2017, October 05). Expats: How Filipinos Can Acquire Their Credit Score and Credit Report. https://www.cibi.com.ph/how-filipinos-can-acquire-their-credit-score-and-credit-report/

Zoleta, V. (2018, July 02). Expats: What is a Credit Score and Why Should I Improve it?. https://www.moneymax.ph/personal-finance/articles/credit-score-philippines/

2019 June 18 Cashalo. https://www.cashalo.com/blog/how-to-get-faster-approval-on-your-personal-loan/

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