arrow-menu

Blend Review

When it comes to peer-to-peer lending at Blend, the borrower and lender (or investor) enjoy hassle-free online transactions. Ethical lending is at its core, which provides assurance to everyone involved in its platform that every transaction is legal and ethical. Borrowers enjoy competitive rates and practice responsible borrowing, while lenders access high returns on investment.

Read more

Written by: Piggyy

Verified by: Krisette C.L

Krisette C.L

Author

Krisette has been hustling online media industry since 2011. She's a copywriter, editor, and online media consultant.

Loan Amount

10,000 - 2,000,000 php
4.4/5
4.4/5

Piggyy Rating

Blend
tooltip

Loan amount:
Personal Loan: Php50,000 to Php2,000,000
Fast Loan: Php10,000 to Php40,000
Seafarer Loan: Php50,000 to Php500,000
Franchise Loan: Php50,000 to Php2,000,000
Salary Loan: equivalent to 1 month salary
Business Loan: PHP100,000 – PHP2,000,000
Auto Sangla Loan: PHP10,000 – PHP3,000,000
Educational Loan: PHP20,000 – PHP25,000

APR:

Personal Loan: 1.5% – 3% per month Fast Loan: 8% per month Seafarer Loan: 3.5% per month Franchise Loan: 2% per month Salary Loan: 3% per month Business Loan: 1.5%- 3% per month Auto Sangla Loan: 1.5% per month Educational Loan: 3% per month

Loan Term:

Personal Loan: 12 months – 36 months fast Loan: 3months- 6 months Seafarer Loan: 2/3 of contract period Franchise Loan: 12 months – 36 months Salary Loan: up to 6 months Business Loan: 6-36 months Auto Sangla Loan: 6-24 Months Educational Loan: 1-6 Months

Approval time: 1-3 days

Loan Term

3 - 36 months

Est. APR

% 1,5 -3,5

Loan Amount

10,000 - 2,000,000 php
Pros
  • Allows for diversification.
  • Customers can both become an investor and borrower.
  • Offers higher loan limits.
Cons
  • Will require more documentation compared to other lending companies

Company Information

Blend PH is a peer-to-peer institution that connects borrowers and investors. This non-banking financial institution aims to live out its social responsibility through responsible borrowing and empathetic lending, offering flexible and low-interest loans. 

 

The company aims to connect lenders who want to grow their wealth through investments and borrowers who need access to funds immediately. 

 

Their office is located at Suite 3, 37th floor, Cyberscape Gamma Topaz and Ruby Rd, Ortigas Center, Pasig City, and operates under SEC Registration No. CS 201908028. 

 

You can contact them through their hotline numbers at (02) 8393-3628 and (02) 5310-1743 or through email correspondence at [email protected]

 

Type of Loans Offered

As a start-up financial technology company, Blend processes all of its loans – five different products – that cater to the needs of various profiles of borrowers. With this in mind, loans for all purposes are accommodated. So, whether you need a loan for quick cash emergencies, fund a business, or need an advance salary, Blend can make it possible. 

 

Let’s look at all the loan types available for those who require personal or business funding:

 

Personal Loan

Applying for a personal loan is simple, whether you need funds to start your own business, travel or leisure, pay for your education, pay off debt, or buy your car. Blend offers flexible payment terms, ranging from 12 to 36 months, with interest rates starting from 1.5% to 3% per month, depending on the borrower’s risk type.

 

Borrowers can loan from Php 50,000 up to Php 2,000,000 with a one-time processing fee of 3.33%. 

 

Eligibility:

  • Age must be 21 – 64 years old
  • Must be 6 months employed, business owner, or self-employed
  • Must be employed, a business owner, or self-employed
  • The minimum monthly salary must be ₱20,000
  • Must be a Filipino Citizen

 

Requirements:

  • Certificate of Employment (For Employed)
  • Payslip Month 1
  • Payslip Month 2
  • Proof of Billing (For Employed)
  • Selfie with ID (For Employed, Business Owner & Self Employed)
  • First Valid Government Issued ID (For Employed, Business Owner & Self Employed)
  • Business Permit / Bank Certificate with Average Daily Balance (For Business Owner & Self Employed)
  • Bank Certificate with Average Daily Balance (For Business Owner & Self Employed)
  • Latest Income Tax Return (ITR)
  • Latest 1-year Audited Financial Statement (AFS)

 

Fast Loan

Considered an instant cash loan in the Philippines because of its faster approval process, most fast loans have higher interest rates than Blend’s other loan products and have shorter repayment terms. One advantage it has from the rest is that it has fewer requirements, and it is the kind of funding you need for any emergency.

 

The minimum loanable amount is Php 10,000, and the maximum loanable amount is Php 40,000 with an interest rate of  5% to 8% per month and a one-time processing fee of 10%. 

 

Eligibility:

  • Must be 21 – 64 years old
  • Must be a Filipino Citizen
  • Minimum monthly salary of Php 16,000
  • Must be employed, business owner, or self-employed

 

Requirements:

  • First Valid Government Issued ID (For Employed, Business Owner & Self Employed)
  • Payslip Month 1
  • Proof of Billing (For Employed)
  • Certificate of Employment (For Employed)
  • Mayor’s Permit (For Business Owner & Self Employed)
  • Business Permit / Bank Certificate with Average Daily Balance (For Business Owner & Self Employed)
  • Latest Income Tax Return (ITR)
  • Latest 1-year Audited Financial Statement (AFS)
  • Payslip Month 2

 

Seafarer Loan

This type of loan is for ready-to-board Filipino seafarers who want to secure additional funds for their family or traveling expenses. The loan term is from three to 8 months, depending on the borrowers’ preference, and the loan amount starts from Php 50,000 up to Php 500,000 with an interest rate of 3% to 3.5% per month and a one-time processing fee of 7.50%. 

 

Eligibility

  • Must be 21 – 64 years old
  • Must be a Filipino Citizen
  • Must be employed

 

Requirements:

  • Seaman’s book – not expired
  • A first valid government-issued ID 
  • Allottee form contract
  • Contract with POEA stamp

 

Franchise Loan

This type of loan is ideal for borrowers who dream of funding their own franchise business but face a funding roadblock. But with this type of loan, Blend makes it easier for aspiring entrepreneurs to realize their dream.

 

You can borrow from Php 50,000 up to Php 2,000,000 with an interest rate of 2% per month and a one-time processing fee of 4.75%. The company also tied up with many successful franchises listed on the website.

Eligibility:

  • Age must be 21 – 64 years old
  • Must be 6 months employed, business owner, or self-employed
  • Must be employed, a business owner, or self-employed
  • The minimum monthly salary must be ₱20,000
  • Must be a Filipino Citizen

 

Requirements:

  • Certificate of Employment (For Employed)
  • Payslip Month 1
  • Payslip Month 2
  • Proof of Billing (For Employed)
  • Selfie with ID (For Employed, Business Owner & Self Employed)
  • First Valid Government Issued ID (For Employed, Business Owner & Self Employed)
  • Business Permit / Bank Certificate with Average Daily Balance (For Business Owner & Self Employed)
  • Bank Certificate with Average Daily Balance (For Business Owner & Self Employed)
  • Latest Income Tax Return (ITR)
  • Latest 1-year Audited Financial Statement (AFS)

 

Salary Loan

This salary loan is available to employees tho need extra funds because of emergencies. For quick financial assistance, they can opt for this loan, which allows them to borrow from Php 10,000 up to Php 25,000. 

 

The loan amount borrowers can apply for is equivalent to 1 month salary with an interest rate of 1% to 3% per month, repayable within six months. From the time of loan application, it can be approved within 24 up to 48 hours. 

 

Only the employees of the companies that Blend has partnered with are eligible to apply. The company HR Officer will provide a link for a salary loan application, and once submitted, Blend will process it.  

 

Requirements:

  • Must be a regular employee of any partner company
  • Approval from their respective Human Resources Officer

 

Blend Investment

As to any investment, the risk is unavoidable to any investment opportunity, and you just have to determine your risk appetite. Blend offers two types of investor arrangements: Peer-to-Peer Investments and Auto-Investments.

 

Peer-to-Peer investments are offered to their investors with possibly higher returns and can gain up to 30% in a year but with a greater risk. Auto-investment, however, offers lower risk but only guarantees a 9% gain per year. It all depends on the risk you are willing to take. The higher the risk, the higher the profit. For more conservative investors, auto-investment is a safer choice. 

 

Blend’s innovative financial platform allows investors to initiate hassle-free investments, which are easy to access online. 

 

Why Choose Blend

There are not many peer-to-peer self-employed institutions in the Philippines available online to anyone who wishes to become either or both. However, with the diversity of their product offerings, it is easy for people to have access as a borrower or investor and meet their financial goals. 

 

Ethical

Filipinos deserve financial products that are legal and ethical: affordable interest rates and flexible terms. With Blend’s transparent platform, those who wish to become a borrower or investor are guaranteed that all transactions are safe and secure with no hidden fees. 

 

Allows Diversification

Investors always look at diversifying their investment portfolio. When investors diversify, their main goal is to minimize the risk of their investments. With two different investment options to choose from, Blend makes that happen for investors. 

 

Higher Loan Limit

Blend offers a higher loan limit than other lending platforms that borrowers can access. It solves their financial problem and, at the same time, discourages them from taking another loan from other lenders that would give them higher interest rates. 

 

Be a Borrower and an Investor

Whether you’re a former borrower or an existing one, it does not mean that you cannot be an investor. Some borrowers might also be looking for an investment opportunity that could help them elevate their financial status in life. 

 

How to Sign Up

 

Borrowing or investing has never been made easier. With Blend’s product, just visit Blend’s website and follow through the process. 

 

 

For Borrowers

1
blend 1

Create your account and choose the purpose of signing up (Borrower or Investor). Click on Borrower.

2
blend 2

For Borrowers, the app leads you directly to the loan application section. Simply fill in the loan amount you wish to borrow and the purpose of the loan.

3
blend 3

Depending on the loan amount you wish to borrow, the app will lead you to another section. Choose the type of loan that matches your requirement with the corresponding repayment terms and interest rate.

4
blend 4

Once you have decided on the loan amount and the type of loan matched, Choose the repayment term that is most convenient for you.

5
blend 5

Blend will check your eligibility and require you to complete your personal information.

6
blend 6

Once you have passed the eligibility requirements, you will then have to create your Blend account and complete the loan application process.

For Investors

  1. Create your account and choose the purpose of signing up (Borrower or Investor). Click on Investor. 
  2. Create your investor account and fill in all the required details.

 

Here are the details on creating investor accounts:

 

Peer-to-Peer Investments

 

  1. Create your Blend.ph Lender Account
  2. Log on to Blend.ph and sign up as a Lender
  3. Accomplish details and requirements
  4. Deposit the desired deposit amount to Blend.ph Bank account: Union Bank Account number: 002730006133 under Inclusive Financial Technologies Inc.
  5. Fund your Blend.ph wallet: To add funds click the deposit button, enter the deposit information including the deposit slip or bank transfer screenshot.
  6. Transaction Verification: Once approved, it will automatically be reflected in your dashboard.

 

Auto-Investments

 

  1. Create your Blend.ph Lender Account
  2. Log on to Blend.ph and sign up as a Lender
  3. Accomplish details and requirements
  4. Deposit the desired deposit amount to Blend.ph Bank account: Union Bank Account number:
    002730006133 under Inclusive Financial Technologies Inc
  5. Fund your Blend.ph wallet:
    To be eligible for Auto-investment, you must have a minimum amount of Php 10,000 in your Blend.ph wallet
  6. Auto-Invest Fund: On your Auto-invest page, click Auto-Invest Funds
  7. Complete Auto-Invest Funds:
    Complete and review your details including the amount and period of investments

Conclusion

Blend offers a convenient way for borrowers and investors to connect in a secured platform and allows them to transact smoothly and safely. Moreover, thanks to technology, every Filipino has the opportunity to become an investor or a borrower. Investors can earn high returns on investment and borrowers pay lower interest rates compared with the traditional lenders with more flexible payment terms. 

 

Borrowers can scale to higher loan amounts and longer payment terms for either personal or business reasons with Blend. Meanwhile, investing in Blend is a wise decision for investors looking at diversifying their investment portfolio and providing an opportunity for those who require financial assistance.

Piggyy

״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates

Share this article: