Updated: October 10, 2022
Freelancer loans in the Philippines
Freelancers are becoming a more common sight in the Philippines, and it is because of the increasing number of people choosing to become their bosses and work for themselves. While this is an excellent option for many people, getting started can also be challenging if you don't have the capital you need. That's where loans for freelancers come in! We will discuss how to get a loan as a freelancer in the Philippines, and we will also talk about the different types of loans available to you. So, if you're looking for extra money to start your business, let's apply for a freelancer's loan!
Amount
Term (days)
MoneyCat Loans
CS201953073
0.4%
Percent, per day
1000 - 25000 PHP
Amount
90 - 180 day
Term
Show more
Features
APR:
from 145 up to 365%
Review time:
1 day
Early Settlement:
no
Guarantor:
no
Client
Age:
20 - 60 years old
Citizenship:
Required
Employment:
Required
Proof Income:
Not required
Disbursement & Repayment
Disbursement time:
1 day
Disbursement methods:
Bank Account;
Repayment methods:
Dragon Pay; GCash; Online Payment;
Pros & Cons
Pros:
You can easily get a loan, in a few steps
You only need to spend 5 minutes to register
You don't have to go to the bank and stand in line. The entire process of obtaining a loan takes place online through a phone, tablet or computer
Cons:
High interest rate
Details
MoneyCat is a financial company that will help you quickly and easily get a loan within 24 hours online. You need to fill out the registration form on the site and go through a quick verification, after which the money will be transferred to your bank account
Digido loans
CS202003056
0.1 - 0.4%
Percent, per day
1000 - 10000 PHP
Amount
10 - 180 day
Term
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Features
APR:
from 143%
Review time:
1 day
Early Settlement:
no
Guarantor:
no
Client
Age:
21 - 70 years old
Citizenship:
Required
Employment:
Required
Proof Income:
Required
Disbursement & Repayment
Disbursement time:
1 day
Disbursement methods:
Bank Account;
Repayment methods:
GCash; Dragon Pay; Online Payment;
Pros & Cons
Pros:
Fast processing of the application within 24 hours
There are no additional payments. Only payments under your loan agreement
Cons:
If you do not pay on time, the credit company may charge you an additional penalty
Details
Digido is an online lending company that has a state license and permissions to provide lending services. You can apply for a loan simply and quickly through the company's website, remembering the registration form. The answer to your application will come within 24 hours and within 24 hours after approval you can receive money to your bank account
Kviku Personal Loans
0.16%
Percent, per day
1000 - 25000 PHP
Amount
60 - 180 day
Term
Show more
Features
Early Settlement:
no
Guarantor:
no
UnaCash Personal Loans
0.3%
Percent, per day
2000 - 30000 PHP
Amount
61 - 180 day
Term
Show more
Features
Early Settlement:
no
Guarantor:
no
BDO Personal Loans
0000034001
1.25 - 1.3%
Percent, per month
10000 - 1000000 PHP
Amount
6 - 36 month
Term
Show more
Features
Early Settlement:
yes
Guarantor:
no
Client
Age:
21 - 70 years old
Min. Salary:
180000 PHP
Citizenship:
Required
Employment:
Required
Employment Details:
Regular employee or self-employed firm with at least two years of operations
Proof Income:
Required
Disbursement & Repayment
Disbursement methods:
Bank Account;
Repayment methods:
Bank Cash Payment;
Unionbank Quick Loans
0000036073
4%
Percent, per month
1000 - 1000000 PHP
Amount
1 - 12 month
Term
Show more
Features
Early Settlement:
no
Guarantor:
no
Client
Age:
21 - 65 years old
Citizenship:
Required
Employment:
Required
Proof Income:
Required
How to Get a Loan as a Freelancer in the Philippines
Being a freelancer has a lot of advantages. You are your own boss, you can set your own hours, and you can work from anywhere in the world. However, one of the downside of being a freelancer is that it can be difficult to get a loan. That's because most banks require borrowers to have a regular source of income, and freelancers often don't have that.
But don't worry, there are still options available for you. Here are some tips on how to get a loan as a freelancer in the Philippines.
1. Check Your Credit Score
One of the first things you should do when you're trying to get a loan for freelancers is to check your credit score. Your credit score is one of the factors that lenders will look at when considering whether or not to give you a loan. If you have a good credit score, it will be easier to get approved for a loan. There are a few ways to check your credit score in the Philippines. You can use the Credit Information Corporation's website or you can contact one of the major credit bureaus in the country.
2. Use collateral to secure the loan
If you have any assets that you can use as collateral, that will improve your chances of getting approved for a loan. The bank will feel more confident lending money to you if they know that they have something to fall back on in case you can't make the payments.
3. Get a Loan from an Online Lender
There are several online lenders that cater to freelancers in the Philippines. These lenders typically have more flexible eligibility requirements than traditional banks and may be more likely to give you a loan. You can check out our list of top online lenders in the Philippines for more options.
Conclusion
There are several options available for freelancers in the Philippines who are looking for loans. First, check your credit score so that you know where you stand. If your credit score is low, try finding online lenders who cater to freelancers and may be more likely to approve your loan application.
Fintree Philippines
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Disclaimer: Fintree Philippines is a loan comparison site that helps users find the best options for their needs. We are not a financial company and we do not provide loans ourselves. We work with a number of trusted partners to offer users a range of loan options to choose from. We don't charge the user for choosing a loan, but we do get a commission from our partners. Please read the terms and conditions of the lending organization carefully before you accept it and make sure you will be able to pay it back on time.