How OFW’s Relatives can Apply for Loans Dasmariñas
Dasmariñas is a first class city in Cavite. It has an estimated population of 660,000 people. Many of whom can easily get loans in Dasmariñas.
Over the years, Dasmariñas has grown into a developing city. It had an influx of industries. But despite more opportunities, people seek for other possible sources of income. Some start and sustain businesses while others resort to working outside the country.
Many residents in Dasmariñas have an OFW relative. This is to provide every need of their families. Families have to live apart to survive financially. This is a heartbreaking truth many have lived for more than one generation.
Financial situation of OFW in Dasmariñas
It is a common scenario in the OFW families. Some work hard for their growing family. Parents want to provide the best for their children. And many aspire their kids to be future OFWs.
Let’s be honest, it is difficult to manage the expenses by working here in the Philippines. That’s why one parent usually leaves the country to work. While the other stays behind and looks out for their kids. Both of them share a burden of responsibility.
As the OFW works and sends money, the other handle it according to their financial needs. Sad to say, not all OFW families are good with managing funds. There are also instances where emergencies happen. Children get sick, some get into accidents, and bills increase. The cost of leaving never stops growing.
With this, the OFW family resorts to borrowing cash.
Where to Get Cash Loans in Dasmariñas
Not everybody thinks that lenders are the best option for financial assistance. For example, you may ask families and friends for help. However, they also have issues with finances.
Sometimes, borrowing money from friends and relatives taint relationships. You may go to pawn shops if you have valuable items. But there’s a downside, you may lose your beloved item if you cannot pay it back.
Also, there are loan sharks lurking around waiting to catch prey. Be careful with them. They will definitely lend you money and at the same time help you dig your own grave. Their interest is tremendously high and some even ask for collateral.
Unlike licensed moneylender in Dasmariñas, they offer unsecured loans. No collaterals needed. You just to complete all the documents requested.
Allottee Loan in Dasmariñas
Do you belong in an OFW family?
Do you encounter financial shortage despite the monthly remittances? If you do, then an allottee loan can be handy.
An allottee loan is an unsecured loan that only allows qualified individuals to borrow cash even without collateral. As long as you submit all the requirement, you can start your allottee loan application.
That’s right! You can apply, not the OFW.
The lenders will depend on their approval based on your capacity to pay.
Documents needed for Allottee loan application in Dasmariñas
As usual, you need to submit the documents first to know if you are qualified for the Allottee Loan in Dasmariñas. Here are the basic requirements, though some lenders require more.
- Latest OFW contract with POEA validation
- OFW latest Overseas Employment Certificate (OEC)
- Valid passport
- Valid government-issued ID
- Working visa for land-based workers or Seaman’s Book for seafarers
- Allotment certificate bearing your name as an allottee
- Proof of relationship to the OFW (Marriage Certificate)
- Proof of billing
Tips for Allottee Loan Application in Dasmariñas
As you seek for urgent cash while the OFW cannot send remittance, licensed lending companies in Dasmariñas offer allottee loans for you.
Here are some tips to get the best loan deal.
- Before you submit your application, think first.
It is always best to be cautious with every decision. Do not let your emotion cloud your judgment.
- Prepare all the documents
To ensure a high chance of approval, prepare all paperwork ahead of time. At the same time, your loan process will be easier and faster. make sure that the documents are clear and readable. All if the information has to be consistent as well.
If you get an allotted loan online, you can process your loan in just an hour. You can simply upload the documents and then wait for a call to get verified.
If approved, you should read the contract before signing.
- Pay on time
As always, your main obligation after loan approval in the repayment. Pay diligently. Always keep in mind that positive credit history can help your future loan applications.
If you pay well, then you can apply for a new loan with less fuss. This means there will be less requirement and a higher loan amount.
Even though monthly remittances support your family, quick cash needs are inevitable. Know that you can apply for an allottee loan for emergency cases. But do not forget to inform your OFW about it.
If your application is approved, do your part to repay the loan as scheduled. This will help future financial needs with the moneylenders in Dasmariñas.