So, in terms of need, we need to find a fast way of borrowing money. I am thankful that there are several lending companies who are offering loan application online — like CashWagon!
I really look for fast cash loans here in the Philippines that does not require us to submit a lot of documents (scanned documents).
I stumble upon CashWagon, and I jump in. I applied for my first loan.
What’s awesome? You know by now (if you have tried applying for a loan online — the interest is quite high). Not with CashWagon!
The company offers zero interest payable within 10 days! That’s so helpful for me. I thought I have no way of escaping the high-interest rate of fast online loans.
- I visited their website and provided all the required information – note, they will only ask for a document, but will never ask for a scanned copy of that document. In my case, I have provided my SSS Number. That’s all.
- I have given references – like my wife’s details and contact information. They will also ask a co-worker contact information. Not necessarily the boss, a co-worker close to you can be a reference.
- Also, note that they will send you an SMS as verification and you need to provide that along the application process.
- Bank account for loan disbursement. One thing, you can’t apply for a loan if you have no personal bank account. That’s a must.
- A CashWagon staff called me within 3 or 5 minutes upon the completion of my application on their website. Is that what you call quick? I guess so!
So, I originally applied for P6,000.00, but the woman from CashWagon told me that since it was my first loan application, the approved loan was P2,000.00! Not bad. I have no regret whatsoever.
She told me that once I repay my loan on time, I can qualify for a higher loan amount.
Special note: I did not download anything, like an app from CashWagon. But I guess I need to do that next time (not sure if I can apply for the second time still on the website).
The woman told me that if there’s no problem depositing the money to my bank, I can withdraw the money on my ATM around 6 PM today (I guess that’s a standard process and may apply for other online lending companies).
Therefore, I will be getting P2,000 amount of loan without interest. I am happy with that!
Okay, let me share some thoughts about getting fast online loans here in the Philippines
- If there’s an alternative, I think we should go for it. The interest of borrowing money online is quite high.
- If you don’t need money so badly, better apply for Pag-IBIG or SSS Salary loans.
- Don’t you know that you can organize a coop at your workplace? We have been organizing a coop here and we can set an interest that is quite affordable to all the members, like 5% in a month.
Moola Lending – I have recently applied for Moola Lending and within minutes I received an SMS telling me that the approved amount was already deposited to my bank account.
I have confirmed that by calling their smart number and it was confirmed that my loan was automatically approved. What’s not true — the money is not yet deposited, but ready to be deposited.
However, we have both found out that I have a provided a wrong bank. I have provided a correct account number, but the bank was wrong. I have chosen BDO instead of Unionbank.
The staff told me they can’t change the details of my application, so she advised me to request a cancellation of my approved loan. I did and it was canceled. I got a confirmation message that it was indeed canceled.
I can reapply after 14 days.
Okay, so, you may also try Moola Lending.
Tala Philippines – this is another alternative and I already applied for a loan here and the approval was fast, as well. I have written a special post about this, with pictures of the app as I went through the application process.
I have also shared my recent experience with SSS salary loan application online -100% paperless. If you think you are already qualified for an SSS Salary loan, better check this out.
Okay, so I will update this post once I received my CashWagon cash loan.