Family, students, businesses, and every one of us were paralyzed by the COVID-19 pandemic. It has been six months since the quarantine was implemented and all of us are truly affected.

The schools and most of the businesses turned into online while other establishments were unfortunately gone through their most difficult stage – closure.

With all of the happenings, our finances were also overblown. The main question is, should you apply for a cash loan during this pandemic?

Here’s our main take.

If you still have a stable job during this pandemic and you still have enough resources, then the answer is no. You don’t need to apply for a personal loan.

If you lost a job but you have certain savings or you were able to build an emergency fund, then, there’s also no need for you to apply for a personal loan. You can either apply for another job, explore applying on a physical establishment (even if there is still a risk), open a small home business, or apply for an online job since most businesses are now open on this kind of set-up.

If you lost a job and you don’t have any savings or emergency funds, you have two options; you can immediately apply for a job or apply for a personal loan.

If unfortunately, you were not hired immediately, consider it as an emergency, apply for a personal loan strategically. Make sure that you don’t get to a point to be trapped in debt.

For example, you will be applying for a personal loan of 5,000 pesos, create a budget within. List down all your necessary expenses in a month. Make sure that all of these are just your basic needs. Then, you can also create a timeline or target date when you should have a job or any source of income.

This pandemic may bring us many negativities to most aspects of our life especially financially but we can also realize that it has many lessons.

Applying for a loan may be easy but always keep in mind that it also comes with full responsibilities to whatever position or what we are experiencing in life, but if you are looking for a company whom you can trust, Par Pahiram is always here.

Par Pahiram is a local financing company offering short term financial solutions to individuals and SMEs (Small Medium Enterprise). We have an interest rate as low as 5% to ensure that it won’t leave you with a burden.

We have also minimal requirements and we ensure to communicate very well with our clients to easily settle the requirements or any concerns.

We are transparent with your application so whether you are in need of cash for your immediate needs you can always count on us. Visit our page and know more about our offer.

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