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Crawfort Review

The introduction of microfinance in the Philippines has made certain that low-income individuals have access to financial services that would not otherwise be accessible to them, owing to the stringent eligibility criteria and constraints they must satisfy.

With Crawfort’s triumph in Singapore, there can be no doubt that the same may be achieved in the Philippines. With a goal of financial inclusion for Filipinos and improving their quality of life, many more consumers will be able to improve their standard of living and achieve financial stability, thanks to Crawfort’s quick and easy access to credit.

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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

1,000 - 50,000Php
3.5/5
3.5/5

Piggyy Rating

Crawfort

Loan Term

60 - 120 days

Est. APR

% 7 per month

Loan Amount

1,000 - 50,000Php
Pros
  • Can be trusted.
  • Safe and secure.
  • Easy loan application process.
  • Fast loan disbursement.
Cons
  • Loan applications can only be done online
  • Only employed and self-employed individuals can apply.

Company Information

 

Crawfort is a micro-lending company that’s duly compliant with the laws of the Philippines. It’s registered with the Securities and Exchange Commissions (CS201906864) with Certificate of Authority No. 2953. In 2011, the company was established in Singapore and had successfully provided over 200,000 loans before bringing its successful finance solutions to the Philippines.

 

The company aims to enhance Filipinos’ lives through fast and easy access to credit. All loan applications with Crawfort only take five minutes to complete, while approvals and disbursements can be completed the following day, subject to business operating hours. 

 

Crawfort currently has its operations in Singapore and the Philippines, but they plan to open soon in Vietnam, Malaysia, and Indonesia. The success of its expansion can be attributed to the fact that they have achieved 98% approval success from the clients they have already served. 

 

They operate from 10:30 AM to 7:30 PM every Monday to Saturday but are closed on Sundays and public holidays. The main office is located at 9/F M1 Tower, 141 H.V. Dela Costa St., Salcedo Village, Makati City, Metro Manila. 

 

Types of Loans

Life is full of uncertainties, and no matter how much you prepare for the future, sometimes you will still fall short of cash, and that’s part of it. Moreover, even planned purchases sometimes require a fund boost.

 

What you will need might be for a medical emergency, a tuition fee payment, or a source of capital for your small business. Sometimes, it could be that bills are due and your salary is days away. Whatever your needs are, Crawfort has the solution for your financial needs. 

Customers can avail of these two loan types with Crawfort: Personal Instalment Loan and Fast Payday Loan. 

 

Personal Instalment Loan

Borrowers will receive a lump sum amount when the loan is disbursed, which they must pay in installments according to the agreed repayment schedule. This is a popular loan that may be used for planned expenditures or emergencies that must be addressed right away.

 

Fast Payday Loan

Fast Payday Loan is made for emergencies that may arise before a person’s salary comes and must be addressed immediately. These are unplanned expenses that can happen to anyone. Applying one with Crawfort means that borrowers get the chance to settle their emergencies and pay it back when they receive their salaries. 

 

Eligibility Criteria

To be able to apply for a loan, the following criteria must be met:

 

  • The borrower must be above 18 but below 65 years of age at the time of the application
  • A Filipino citizen, currently living in the Philippines with a valid government-issued ID
  • Employed or self-employed with 2 years of profitable operation

 

Requirements

The borrower must prepare the following documents to complete the loan application. When all the documents are ready before the application process, the faster the whole process will take, the easier for the Crawfort team to do the verification process. 

 

Employed

  • Active mobile number 
  • An active personal email account
  • One copy of major ID or two copies of secondary ID 
    • Tax Identification Number (TIN)
    • Social Security System Number (SSS)
    • Government Service Insurance System ID (GSIS)
    • PhilHealth 
    • Philsys
    • Passport
    • Driver’s License
    • Postal ID
    • Professional Regulation Commission ID (PRC)
    • Voter’s ID
    • Senior Citizen ID
  • A selfie photo with the ID selected above
  • Company ID or Letter of Employment
  • Proof of Income (choose 1): Latest 1-month payslip/Certificate of Employment and Income/Latest BIR Form 2316 or W2
  • Proof of Residence (choose 1): Bank Statement of Account/Credit Card Billing Statement/Utility Bills (water, gas, electricity, cable, or broadband)/Barangay Certificate of Residency Address/Mobile phone bill /Landline Bill/Insurance Premium Bill/Letters from the local municipality
  • Two emergency contacts 
    • One immediate family or friends
    • One business partner or colleagues
  • Bank details for disbursement of loan 
    • Bank Name
    • Account Name
    • Account Number

 

Self-Employed

  • Active mobile number
  • An active personal email account
  • One copy of major ID or two copies of secondary ID 
    • Tax Identification Number (TIN)
    • Social Security System Number (SSS)
    • Government Service Insurance System ID (GSIS)
    • PhilHealth 
    • Philsys
    • Passport
    • Driver’s License
    • Postal ID
    • Professional Regulation Commission ID (PRC)
    • Voter’s ID
    • Senior Citizen ID
  • A selfie photo with the ID selected above
  • Company ID or Letter of Employment
  • Latest Proof of Income (choose 1)
    • Latest Income Tax Return with bank stamp (BIR Form 1700 or 1701); or
    • Bank Statement
  • Business Registration Documents (choose 1): DTI Certificate/SEC Registration/Business or Mayor’s Permit
  • Proof of Residence under applicant’s name (choose 1): Bank Statement of Account/Credit Card Billing Statement/Utility Bills (water, gas, electricity, cable, or broadband)/Barangay Certificate of Residency Address/Mobile phone bill/Landline Bill/Insurance Premium Bill/Letters from the local municipality
  • Two emergency contacts 
    • One immediate family or friends
    • One business partner or colleagues
  • Bank details for disbursement of loan 
    • Bank Name
    • Account Name
    • Account Number

 

Crawfort’s Bank Partners

The loan amount will be disbursed to the borrower’s bank account once approved. Crawfort has partnered with several local banks to ensure that all transactions are safe and secure.

 

  • BDO Unibank
  • Bank of the Philippine Islands (BPI)
  • BPI Family Savings Bank (BFB)
  • Metrobank (MBTC)
  • Rizal Commercial Banking Corporation (RCBC)
  • United Coconut Planters Bank (UCPB)
  • Union Bank of the Philippines (UBP)
  • China Banking Corporation (CBC)
  • EastWest Bank (EWB)
  • Security Bank Philippines (SBP)
  • Land Bank of the Philippines (LBP)
  • Philippine National Bank (PNB)
  • Asia United Bank (AUB)
  • Royal Bank of Scotland Philippines Inc. (RSB)

 

Loan Repayment Options

There are different payment channels to ensure that customers can conveniently repay their loans:

 

 

Why Choose Crawfort

There’s no doubt that Crawfort’s major objective is to improve the quality of life for all Filipinos, especially underserved ones. However, there are various other reasons why people should choose Crawfort.

 

Established Brand

Crawfort is a brand that has already proven its success in the market – a brand that can be trusted and has over 200,000 approved loans given to Filipinos who are challenged financially. With those approved loans, 98% of the clients are satisfied with the service that they have been offered. 

 

Offer Convenience

Crawfort is all about convenience and giving its customers excellent service. The application process, disbursement, and repayment are streamlined to make it easy for their clients. 

 

Easy and Fast Access to Cash

The whole process of application only takes five minutes to complete assuming all the documents are ready during the application process. The information required is basic personal and work information, which the applicant can produce right away. Everything can be completed within the day, from loan application up to disbursements of funds.

 

Information is Kept Secured

The data that clients share with Crawfort and protected and is safe from unauthorized access or getting sold to other companies. 

 

How to Sign Up

 

Getting a loan approved with Crawfort is as simple as completing only three steps:

1

Visit their site by clicking the button below, then click on apply now. Simply complete all the information needed and ensure that all documents are uploaded and there are no inaccuracies in the application.

2

Customer support from Crawfort will call the applicant to verify the information provided. In some cases, when further verification is needed, they will call the emergency contact that the applicant has provided or their place of work.

3

Once the loan is approved, Crawfort strives hard to ensure that the client receives the money within the same day through their preferred method.

Frequently asked questions

Can I receive my cash loan through different methods apart from bank transfer?

There are payment channels that cater to those who are underserved in the Philippines:

 

  • GCash (customers must have an active GCash account)
  • Cebuana Lhuillier (maximum amount to be withdrawn is Php20,000 per recipient per day)
  • LBC (maximum amount to be withdrawn is Php20,000 per recipient per day)
  • Pera Hub (maximum amount to be withdrawn is Php50,000 per recipient per day)
How do I ensure that my data is protected?

Crawfort’s database is equipped with highly encrypted and modernized bank-grade technology to ensure that all the information is kept secure and will not be hacked by unauthorized individuals. 

Where can I see the details of my loan?

All of the customer’s pertinent personal and loan details can be viewed through their account in Crawfort’s web portal. 

Can I update my personal information on the website? How?

Yes, any customer who has an account with Crawfort can update their personal information directly through the portal. They simply have to follow these steps:

  • Open Settings
  • Update other details that need to be updated
  • The updated information will be verified and updated by the Crawfort team
What could be the reasons for a loan application to be declined?

The loan applications that Crawfort receives undergo a process that must adhere to their Credit Policy which also means that a borrower’s creditworthiness is assessed. Often, a loan is declined due to the following reasons:

  • The applicant’s income would not suffice, given the repayments based on the assessment of Crawfort.
  • Any inconsistencies in the information that was provided.
  • Failure to meet financial commitments and credit history issues before applying for a loan with Crawfort.

 

If there is a reason for the applicant to believe that the rejection of their loan application has been a mistake, he or she may contact Crawfort’s customer support at [email protected].

Can I re-apply after getting declined for my loan application?

When a loan application is declined, the applicant may re-apply after 30 days. 

Can I apply for another loan even if I have an existing loan?

Yes. Crawfort allows its customers to get a second loan even when they still have an existing loan provided that the second loan will not be used to pay off the first loan and that the second loan will still be subject to the same approval process as the first one. 

How do I know that my loan is closed?

When a loan is closed, the client will be able to receive an e-receipt via email or SMS. But the other method for the client to check that the loan has been closed is by logging in to their account in the web portal. 

Conclusion

Filipinos deserve access to financial services that offer excellent services, are highly secure, and offer high loanable amounts that will allow them to meet their short-term and long-term goals. 

With over nine years of expertise in the market they are serving in, Crawfort’s experience is definitely a ‘helpful hand’ in times of need for consumers. 

Piggyy

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

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