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Top Financing Corporations existing in the Philippines
Banking and Financial Institution (FMPr3)
Bukidnon State University
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Top Financing Corporations existing in the Philippines:
Radiowealth Finance Company Bank in Polomolok City, Phillippines Main bank Address: Divinagracia Building, National Highway,Polomolok, 9504 Contact #: (083) 225-
About Radiowealth Finance Company (RFC)
Establish in 1964, Radiowealth Finance Company grew as one of the country, pillars in the financing industry from its early pioneering years as the first company to offer car and appliance loans to Filipino households. Founded by visionary Domingo Guevara, RFC remains true to its deeply-rooted commitment to develop and offer products and easy processing that cater to relevant market needs and demands, and remains one of the most respected and innovative financing companies in the Philippines. Today, Filipinos can access these products and services through more than 100 branches centers nationwide. Before it was just a radio and car manufacturer until then they switch to being a finance corporation that provides established and reputable loans solutions provider in the country. It was in 1993 that the Securities and Exchange Commission (SEC) granted Radiowealth Finance Company the authority to operate as a finance company. Nowadays, RFC has 126 branches nationwide, 86 business center and more than 1500 employees. For over 50 years, Radiowealth Finance Company has offered breakthrough loan solutions designed to provide Filipinos the financing they need.
RFC Offers: Home repair Payment of tuition fees Medical assistance to investing in business New house or Car Radiowealth Finance is a proud Filipino company that offers accessible and easy credit to people from all walks of life. They are also a brand that is committed to delivering and empowering lives of every individual. Business Partners: Robinsons Appliances Savers Appliances Western Appliances Anson’s company
Brother company Kimura Chaves Enterprise, Inc. CYA industries Inc. Waters Philippines Home Along JMP solar power Enterprise PC Express Shanghai Global Corp. Chris Sports LCC Department Store VPR Marketing Colours TATA USSC Service Store Dsap Negosyo Center Informatics Their Digital payment partners: E BAYAD CENTER METROBANK EASTWEST BANK RCBC UCPB
Radiowealth Finance Corporation (RFC) Business Loan RFC is one of the longest-running private finance/lending company in the Philippines. The company was established in 1964 and they pioneered (non- bank) offering car and appliance loans to Filipinos. Today they have 126 branches all over the country offering a variety of loan options to Filipinos including business loans. What are the requirements for an RFC Business Loan?
RFC’s business loan is applicable to SMEs and even big corporations. To apply, these are the requirements that you need to submit when applying for the loan: Self Employed
Completed Application Form Two (2) ID pictures (1×1 or 2×2) Passbook (open for six months) ITR/W2/W
Minimum loan ₱100,
Maximum loan ₱1,000,000 (with collateral)
₱150,000 (without collateral)
Interest rate 3% to 4% per month
Term 3 months to 1 year
Other fees One-time 6% processing fee deducted from the approved loan amount.
₱200 notarial fee
How can I get the funds?
Funds will be reimbursed in person through any of RFC’s branches nationwide (whichever is closest to your location). Pros and cons of RFC Business Loan
RFC is a great loan provider for businesses that are just starting out. Pros They’re very lenient when it comes to eligibility. The minimum income required is quite low and the overall requirement isn’t that intimidating even to small business owners. Cons The downside to their loan services is the term, maximum term is only 12 months. RFC Business Loan Up to ₱1,000,000 business loan approved in 3-5 working days Interest rate (p.)
42% - 42%
Loan Tenure
0 - 1 years
Approval Duration
3-5 working days
Min. monthly income
₱7,
What's so great about RFC Business Loan?
Borrow from a minimum of ₱100,000 to maximum of ₱1,000, Very low income requirement Repay your loans in tenures of 3, 6, 9 up to 12 months
Product Features
Min. financing amount
₱100,000.
Max amount ₱1,000,000.
Min. loan tenure 3 months
Max. loan tenure 12 months
Interest rate 3%-4% per month
Approval duration 3-5 working days
Debt consolidation No Fees & Charges
One time set up
Processing fee 6% of approved loan amount
Stamp duty
12 months = (PNV / 200) x 1; < 12 months = ((PNV /200) x 1) x (term / 12)
Disbursement & misc. fee
₱200 notarial fee / Insurance (GCLI) = (PNV / 1,000) x 20
Penalties
Early settlement N/A
Late payment charges 5% of amount due
How much can I borrow?
With RFC Business Loan, borrow from as low as ₱100,000 to as much as ₱1,000,000 subject to approval. What are the RFC Business Loan Requirements?
An applicant must fulfill RFC's eligibility criteria for a loan: For employed, at least 6 months employed or permanent status or at least 1 year employed for BPO / Contractual / under agency. For self-employed, business must at least be 1 year operational & duly registered. For OFW's or allottees, must be working or receiving remittance for at least 1 year already. Borrower must be at least 21-64 years old. Must be Filipino citizen and with permanent residence. Consequently, after filling out an application form, the following documents are necessary: Self–Employed applicants need: 2 valid government-issued IDs Proof of Business (Valid DTI Reg & Business/Brgy Permit) Picture of business Proof of income from business Latest Proof of Billing 4 character references (2 relatives + 2 trade references) *Additional documents may be required during credit evaluation.
Esquire Financing Business Loan Having a business requires a lot of time, effort, and most importantly, capital in order to get things up to speed. If your venture is still in its initial stage and funding is one of your immediate concerns, then you can consider applying for an Esquire Financing business loan. Borrow from a minimum of ₱100,000 to as high as ₱10,000,000 and get the additional funds in as fast as 7 business days. Offering a reasonable interest rate of 1% - 3% per month without the need for any collateral, it also comes with a flexible payment term from 3 months up to 1 year. To qualify for this loan, you must be 21 to 59 years of age with a minimum salary of ₱30,000 gross per month. Zenith Business Loan If you are running a business, you always have to be prepared for any unforeseen scenario that could slow down your operations or derail your future plans. Most of the time, these circumstances arise from urgent budget requirements that have unexpectedly come up. One way to resolve this issue is to consider taking a Zenith Business Loan to fill in this immediate financing need. You can borrow from ₱100,000 up to ₱10,000,000 at a reasonable interest rate of 2% per month. With fast loan approval and release, you can receive the additional funds straight to your bank account in as fast as 7
working days. Flexible payment terms is also available, where you can pay starting 3 months up to a year. To be eligible, your business should be registered, and running for at least 1 year. You will also need to have a minimum monthly gross income of ₱20,000 and must be 21-64 years old. Global Dominion Financing, Inc. Doctors Loan It can be quite a challenge for medical professionals to start up their own practice, especially without the required capital. Fortunately, Global Dominion Financing offers a Doctor’s Loan that’s ideal for medical practitioners, dentists, and other physicians who are in need of funding to help them put up their own clinic. What’s great is that there is no minimum monthly income requirement. You can borrow loan amounts starting from ₱50,000 to as much as ₱300,000 with interest of 1% per month. Upon approval, you can receive the funds you need in as quick as 1-3 working days. Flexible payment term of up to 1 year is also offered. Applicants are required to present their PRC ID and Patients’ Ledger and must be 21 - 60 years of age.
Top Financing Corporations existing in the Philippines
Course: Banking and Financial Institution (FMPr3)
University: Bukidnon State University
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