Lending Companies in Iloilo

Company Loan Amount (PHP) Interest Rate Loan Term
Digido 1,000 – 25,000 From 0% to 11.9% Up to 30 days
MoneyCat 500 – 20,000 Up to 11.9% per month Up to 180 days
Kviku 500 – 25,000 1.2% per month Up to 180 days
Cashspace 1000 – 25,000 1.3% per month 2 – 4 months

Bank of the Philippine Islands (BPI)

BPI Leasing Corp

Bank of the Philippine Islands (BPI) is one of the largest and most well-established banks in the Philippines. With branches in the city of Iloilo, BPI offers exceptional financing options for Iloilo residents and its environs. Its headquarters are located in Makati City, Philippines.

Legal Information:

BPI provides various loans and services, including personal, home, auto, business, and credit cards. Their personal loans can be used for various payment options, such as home renovation, education, travel, or debt consolidation. BPI offers investment and insurance products, online financial services, and mobile banking apps for convenient transactions.

To apply for a loan with BPI, the specific criteria may vary depending on the loan type. Generally, applicants must provide:

Development Bank of the Philippines (DBP):

The Development Bank of the Philippines (DBP) is a government-owned bank committed to promoting sustainable development in the country. DBP has Iloilo branches and offers a range of financial assistance services tailored to the needs of Iloilo residents.

Legal Information:

DBP provides various loans and financial services to individuals, businesses, and institutions. These include agricultural loans, microfinance loans, housing loans, infrastructure loans, and renewable energy financing. They also offer financial advisory services, cash management solutions, and investment banking services.

The loan requirements for DBP depend on the specific loan program and the borrower’s eligibility. Generally, applicants must submit:

Land Bank of the Philippines (LBP):

Land Bank of the Philippines

The Land Bank of the Philippines (LBP) is a government-owned financial institution that provides financial products and services to Filipinos. With its Iloilo branches, LBP offers various lending programs and services to cater to the needs of Iloilo residents.

LBP has various loans and services, including agricultural, microfinance, housing, salary, and educational loans. They also provide financing options for renewable energy projects, infrastructure development, and agribusiness ventures. Its services extend to deposit accounts, cash management services, and other banking products.

Requirements:

Top OFW Lending Companies in Iloilo

123 Finance Group

This is a reputable Iloilo loan provider with certificates of registration with the SEC (CS201800207). It offers two types of loans with varying amounts that meet most borrowers’ demands. 123 Finance charges a fair interest rate compared to many Iloilo lenders. It has just one branch in the city, which is located in Iznart.

The lender has two major services: OFW and Salary Loans. It allows borrowers to get up to 3x their salary with minimal rates.

Loan Requirements:

CEDOP Loans Service

This is a popular lender in the city of Iloilo, where P. Doce Loans operates. This walk-in loan provider started operations in 2019 and offers various loans for Iloilo residents. The interest rate here is fair. It goes for as low as 1.2% for OFW loans and higher for others. The services are not SEC certified, so ensure you research before applying.

The main loan types are OFWs, seafarers, and car loans. But you can get other offers upon request. It also provides Prenda OR/CR without taking your vehicle. Below is a list of all available loan services:

Depending on the type of loan, you’ll need to provide different requirements. Some basics ones include:

Metro Quicash Loans

metro quicash

Metro Quicash Corps is a Filipino lender with branches nationwide, including Cebu, Manila, Oro, Iloilo, etc. They offer various types of loan products, including OFW, Seamans, Seaman’s Allottee, etc. Borrowers can get as much as 2X their basic salary here with various payment options. The interest rate ranges between 1%-5% per month, depending on the type of loan. The company is registered and licensed by the SEC under CS201605896.

Metro Quicash has various types of loans, although it’s more established for OFW and Seaman loans. Its services include:

Different applications warrant different requirements for approval. But generally, to apply for its OFW Loan, you must:

Lending Companies in Iloilo With Low Interest

Welcome Finance

As the name implies, Welcome Finance is a welcoming place to borrow funds for Iloilo borrowers. The lender is a reputable company with a record of providing extra cash for Iloilo residents. Its interest ranges from 1% to 3.5% monthly, depending on whether it’s a secured or unsecured loan. Employed borrowers can apply for between 20,000 to 1,000,000, while self-employed can extend to 3,000,000.

Four types of services are available here: personal, salary, business, and auto loans. To apply for any, you must be between 21-65 years and earn over 25,000 per month. For Personal, you can get the funds with 1.39% – 1.89% monthly rates and a 12 – 36 duration.

The primary criteria for approval here are divided into Employed and Self Employed. Employed people require less approval, while Self Employed individuals require more. For employed borrowers, you need:

Prime Global Finance Corporation

Since it was founded in 1997, this company has provided various types of financial products for individuals, businesses, and corporations across the Philippines.

Services

Depending on the type and amount, you might need to provide documents like:

Exquisite Lending Services

This is a reputable online and in-store lender in the city. The company offers various types of loans at reasonable costs to Filipinos. Although it provides a professional range of loans for low income borrowers, you can still get personal loans from this lender. However, ELSI services are not licensed by the SEC.

Its loan products range between business loans, pension loans, and real estate loans. No specified loan amount is available here, so it largely depends on your creditworthiness and financial situation.

To get an offer here, you must be:

FAQ on Lending Companies in Iloilo

Is private lending legal in Iloilo?

Yes, private lending is legal in the city. However, this only holds as long as the lender complies with the Bangko Sentral ng Pilipinas (BSP) regulations and any other applicable laws in the Philippines.

How can I get a loan from a lending company in Iloilo?

You typically need to approach the lender to get a loan from a lender here. You can visit a walk-in lender or visit their official website. You must also meet the lender’s eligibility criteria, provide all necessary documents, and complete the application process.

Can you get a loan for 3 months in Iloilo?

Of course, getting a loan for three months is possible here. Many of the lenders in Iloilo usually offer short-term loan options. This means their repayment periods can be as short as 3 months. However, please note that the availability and terms of such loans may vary depending on the lender and specific loan products.

What is the largest financing company in Iloilo?

Bank of the Philippine Islands (BPI) is one of the biggest financial establishments in Iloilo. Its strong presence in the city makes it one of the biggest market determinants as well. Its services include credit and loans, deposit accounts, and investment options.

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