Quick Cash Loan in Las Piñas

All About Quick Cash Loans

Quick Cash Loans are short-term loans with a fast application and convenient disbursement process. Unlike traditional financing, which can take days or weeks, lenders can complete quick cash loan applications within 30 minutes and release funds within 24 hours. 

Because Las Piñas has become one of the fastest-growing cities, the residents’ needs have also increased, and their lifestyles improved. With an estimated population of over 600,000, residents also look for quick cash loans to help them pay for urgent expenses and emergencies.

Where to Get Quick Cash Loan in Las Piñas City 

Online Lending Companies

If you can’t wait until the opening hours of banks and pawnshops, online loans are more accessible than traditional brick-and-mortar financing. The processing will only take about a few hours or the latest, within 24 hours.

MoneyCat

MoneyCat is one of the reputable online lenders in the country that offers a quick cash loan where you can get the chance to loan up to ₱20,000 within five minutes.

Loan Features

Loanable Amount: ₱500 to ₱20,000

Loan Term: 3 to 6 months 

Monthly Interest Rates: 11.9% 

Age Requirement: At least 22 years old 

Online Loans Pilipinas

Online Loans Pilipinas provides a quick cash loan in four easy steps. This company also offers 0% interest for borrowers who can pay on the first payment date. 

Loan Features

Loanable Amount: ₱1,000 to ₱30,000

Interest Rates: 0% interest for first-time customers 

Qualification: 22 to 70 years old Filipinos with a valid bank or e-wallet account

Vidalia Lending Corporation

Vidalia has served the Filipinos for over a decade, catering to individuals and companies through loan products. 

Loan Features

Loan Amount: ₱2,000 to ₱500,000

Interest Rate: 0.2% to 0.73% per day

Loan Term: 60 days to 360 days

Approval Duration: up to 24 hours

Pawnshops or Sanglaan

People who do not have the necessary documents but have valuables to pawn may turn to a pawnshop for help. Like other lenders, pawnshops lend their clients money they can repay with interest. But, they cannot request a specific amount from pawnshops; the amount of money they may borrow is determined by the value of the pawned items.

Cebuana Lhuillier

With 2,500 branches nationwide, Cebuana Lhuillier continues to prove their spot as the leading pawning service in the Philippines, with a 30% higher appraisal rate than most pawnshops in the country. 

Items Accepted: 

• Gold, Diamond
• Platinum jewelry and watches
• Cellphones
• Laptop computers 

Fees and Charges:

Advance Interest: ₱4 for every ₱100 loan amount

Service Charge: 1% of the principal loan amount, not to exceed ₱5

Renewal:

• Interest Rate in Renewed Pawns: starts at 4%
• Liquidated Damages: 2%
• Service Charge: ₱5

Palawan Pawnshop

On the other hand, Palawan Pawnshop has 3,300 branches nationwide and has been serving Filipinos with financial services since 1985. 

Choice packages:

• Package 1 (With 1% advance interest) = 1% for 1 to 11 days,  2% for 12 to 22 days, 3% for 23-33 days 
• Package 2 (No advance interest) = 3.5% per month 
• Package 3 (1-month advance interest) = 2.5% per month 
• Package 4 (2-month advance interest) = 2% per month 

Repayment Term: Maximum of 120 days 

Service Charge: 1% of the principal loan, but shall not exceed five pesos (₱5.00)

Informal Lenders (Bombay or 5/6)

5-6 moneylenders are common in the Philippines and generally prey on informal sectors. Despite the government’s efforts to warn Filipinos, many still resort to this type of financing since the process is fast and money is guaranteed. However, one may wind up paying more than the borrowed amount due to high-interest rates. 

Family and Friends

Approaching family and friends for quick cash rather than the conventional method offers many advantages. These benefits include borrowing money with little or no interest, a longer repayment period, and requiring no documentation.

But borrowing money from them means putting relationships on the line, so avoid misunderstandings as much as possible. 

When to Consider Applying for a Quick Cash Loan?

There will always be instances when you have to deal with unplanned expenses and when all other options have been exhausted, a quick cash loan is often the easiest short-term solution.

Here’s when to consider applying for one since a loan is a financial commitment.

Medical Emergencies

Even if your company provides healthcare benefits, you still need to pay for medical bills and services that your health insurance doesn’t cover. As a result, a quick cash loan may be convenient when paying for medical emergencies that are way beyond your budget.

Unexpected Personal Expenses

Personal expenses can take many forms, including household, auto, family, and other costs. But, regardless of whatever category your circumstance falls into, unplanned personal expenses may strain your budget, and a quick cash loan would reasonable interest rates can keep your finances afloat for a while.

When Should You Avoid Quick Cash Loans?

You should weigh the possibilities and consequences before signing the loan agreement. A quick cash loan may cause financial woes if poorly managed. These instances indicate you should avoid a loan.

You Already Have an Existing Loan

If your monthly budget is already stretched for your monthly bills, including credit card balances, it’s best to avoid taking a quick cash loan for now until you settle previous ones. Adding a cash loan to your existing financial responsibility would increase your monthly obligations, leaving you with less money to spend on essentials.

You Earn Less Than the Amount You Want to Borrow

Your monthly income is one factor to consider when borrowing money since it determines your ability to repay the loan. Hence, taking out a quick cash loan may not be a good decision, mainly if your income is less than the amount you wish to borrow, as it will only harm your finances in the long run.

Bad Credit History

While credit scores help lenders determine whether or not you are good at managing your finances, you may still get a loan even if you have a poor credit history but at a higher interest rate. So, work on improving your credit scores to avail a quick cash loan with low-interest rates.

Caution When Borrowing Quick Cash Loans

There is no doubt that quick cash loans are beneficial for any reason, and the country is filled with quick cash providers eager to help. It should be noted, however, that a quick cash loan is still a debt, and as such, it has the potential to harm one’s finances if incorrect judgments are made.

These misjudgments include borrowing money beyond one’s means despite having poor credit scores and having no viable purpose for the borrowed funds. If one has only a habit of overspending or buying unnecessary things but cannot afford the monthly payments, then a quick cash loan is not a good option.

Loans have advantages and disadvantages, and overlooking the latter can lead to further financial woes.

Conclusion

Fast and easy access to financial services is crucial, especially for those who live in depressed areas or on busy streets of the country. Fortunately, the Philippines is now home to many online and offline financial organizations, ready to provide quick cash loans anytime.

And while getting a loan can provide significant benefits, it still carries certain risks that you should consider. In the end, responsible borrowing is your ultimate goal to manage finances well.