How to Get The Best Allottee Loans in Lipa
The City of Lipa is a first class city and the most populous city in the province of Batangas with an estimated population of 335,000 people. It boasts of quality services lie allotted loans in Lipa.
Lipa is a major recreational, religious, commercial and healthcare spot in the Province of Batangas that gives a wide scope of job opportunities. Despite this, it’s inevitable for them to work outside the country because their work cannot sustain their family’s basic needs. However, there are instances that they still lack funds and look for possible options. Fortunately, people in Lipa can now get an Allottee Loan.
Money lending in Lipa
Money lenders in Lipa are highly regulated. They are required to be registered with the Securities and Exchange Commission. In addition, they have to offer transparent loan services with competitive fees.
One of the loans they offer are the OFW allottee loans. This type of loan does not require any collateral and comaker to let OFW families access cash when they need it the most.
Allottee Loans in Lipa, Batangas
Taking out a loan is not only for those who are locally employed. If you’re a spouse left at home to manage the house and grow your children, you can have your share as well. This is all possible because of an allottee loan. An allottee loan is different from the OFW loan. If the OFW loan is for individuals who plan to work abroad, an allottee loan is for the loved ones left behind.
Before the lending company in Lipa grants your loan, you have to prove that you are receiving regular remittances.
Must Do’s in Allottee Loans Application
There are things to keep in mind before you get an OFW allottee loan.
- First, you must thoroughly think about it before you submit your requirement. Is the lender registered with SEC? How much will you need to borrow? Can you pay every week or every month?
- Next, determine the requirement. Each lender has its own list of eligibility and required documents. Choose the one that you can easily meet.
Being prepared ahead of time assures you an easier and faster process with a high possibility of approval.
- Use a loan calculator.
The best way to get a loan is to use a calculator provided by the lender in its website. It will let you see how much you can borrow, the interest charge and even the due dates. If you are confident that you can pay on those due dates, then you can proceed with your loan application
- Last but definitely not the least, pay your dues on time. When the money lenders in Lipa gave you money, you need to pay on time.
Do your repayment diligently. Avoid missing out your payment or worse defaulting.
Lending companies are mandated by the Republic Act No. 9510 top report the borrowers’ loan information and payment habits. This report is accessible to other lenders, banks and financing institutions.
If you pay on time, it will be easier to get new loans from lenders and banks. This is handy when you finally apply for a housing loan or car loan.
Requirements of Allottee Loans in Lipa
Money lending companies in Lipa, Batangas has a specific list of requirements for an allottee loan. You must be compliant in order to ensure approval. These are the basic requirements.
- Latest OFW contract with POEA validation. Your spouse’s contract validated by the POEA shows the description of the job.
- Husband’s valid and latest Overseas Employment Certificate (OEC). This certification proves employment overseas.
- Valid passport. This serves as your spouse’s valid ID.
- Working visa or Seaman’s Book. These are for land-based workers and seafarers respectively, granting permission of their work abroad.
- Allotment certificate bearing your name as an allottee. This is very significant for the lenders to identify that they are dealing with the right person.
- Proof of relationship to the OFW. Most likely, the OFW will take the responsibility of paying off the loan so it’s better to clarify your connection that is proven by either a Marriage Certificate or a Birth Certificate.
- Proof of billing. To easily identify your location. This document proves your current address.
- Valid government-issued ID. This is to certify that the above requirements are directly related to you.
There may be other paperwork needed as it varies from lender to lender.
Wherever you or your family work, a financial struggle is inevitable. You can handle it by taking out an allottee loan.
Just be sure to get it from an SEC-registered money lending company. This will ensure that you get the best and most transparent loan in Lipa.
Want the fastest allottee loan? get it through online today. Cash Mart offers online allottee loans for the residents of Lipa.