Are easy-to-get loans good or bad?

Are easy-to-get loans good or bad?

There’s a lot of debate in the Philippines as to whether payday loans are good or bad. Since credit facilities usually leverage higher interest rates as compared to other providers. 

However, the big problem with this comparison is that other providers (banks, etc.) usually require applicants to jump through numerous hoops, identify the collateral and guarantors, submit all kinds of documents and wait for lengthy periods of time.

Online loans to the rescue

In stark contrast, no-collateral loans are a much better opting to any Filipinos who’s found himself in financially tough conditions. There’s no time to deal with banks since the cash is needed right now. 

Major payday loan providers like Catcash are ready to offer financial support to anybody who’s aged from 17 to 65 and has a source of income. This is another difference from banks who are very picky about their clientele.

As a rule, online loans provider work completely on the web, eliminating the need to spend your valuable time on office visits and phone calls.

That’s why we are convinced that this type of lending serves an important need in the market.

 

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