Micro-lending; The micro online loan application in the Philippines

Top 3 Micro-lending | Cash loan applications in the Philippines 

Review: I spend almost three months reviewing some of the micro leading application or cash loan applications in the Philippines. As always, I give a first-hand experience before making reviews on this blog site this is to give you a glimpse of what this application has to offer before you even proceed to avail of their loan servicers. For this review, I will rank them based on the following criteria; term loan, Interest rate, chargers, collection agent, aftersales, and finally customer service support.

There are many microloan applications available in the application store most of them are legit but some of them are scams. The first thing you should know when downloading a loan application is to read the reviews in the application store itself and look for comments and stars it gives you a quick look at what customers or the users are complaining about. But of course, in the application store, stars and comments reviews are not enough for you to know a deeper understanding of the certain cash loan application.

These cash loan applications that I reviewed are the following, in no particular order:

Application Name: Online Loans Pilipinas (OLP)
Registration: SEC No. CS201726430, CA No. 1181

Application Name: BillEase
Registration: SEC No. CoA No.: 1101, BSP: OPSCOR-2021-007

Application Name: Cashalo
Registration: SEC No. CSC201800209 CA No. 1162

Based on the above image, BillEase got the Top 1 among the three online loan applications followed by Cashalo. BillEase performs very well on the term loan. A term loan is a very important criterion for borrowers to have a more flexible time. The lending company should need to realize that people are more attracted to a longer than 7 days loan term because it builds trust in borrowers, it feels like the company is really helping to the borrower in their most difficult financial situation. This is an intangible connection that makes them happy customers with that a possible repeat customers will be built.