Available Loans for Freelancers

Nowadays, many people quit their job and switch to being freelancers. There are so many reasons behind but one of the main reasons is they wanted to have freedom and a flexible working schedule but of course working as a freelancer has a downside as well. Some freelancers don’t have a stable source of income since they are not regularly hired by an employer. They are just sourcing, looking, and dealing with a client every once in a while. Lucky for them if they are not getting out of client because it means that money will continue to come if they do. But for some, if they don’t have a client, there will be no money. So one of the options they have to survive is to apply for a loan. If you wanted to know what are the available loans for freelancers, this might help you.

Here’s the list of Available Loans for Freelancers:

TALA Personal Loan

• Loan as much as Php 15,000
• 15% interest rate
• Requirements needed:
  • Phone
  • TALA application
  • Valid IDs

EasyRFC Multi-Purpose Loan

• Loan as much as Php 150,000
• 4% interest rate
• Requirements needed:
  • RFC form
  • Valid IDs
  • Two 2×2 ID photos
  • Passbook
  • Income Tax Return (Latest)
  •  Audited Financial Statements (Latest)
  • Business or Mayor’s Permit
  • DTI Certificate

BPI Personal Loan

• Loan as much as Php 1 Million
• 14.40% interest rate per annum
• Requirements needed:
  • BPI Form
  • Valid IDs
  • Income Tax Return (Latest)
  •  Audited Financial Statements (Latest)
  • Business or Mayor’s Permit
  • DTI Certificate

RCBC Personal Loan

• Loan as much as Php 1 Million
•  6.08% interest rate per annum
• 1.40% per month add-on
• Requirements needed:
  • RCBC Form
  • Valid IDs
  • Bank statement (3 months)
  • Income Tax Return (Latest)
  • Business or Mayor’s Permit
  • DTI Certificate

Security Bank Finance Personal Loan

• Loan as much as Php 2 Million
• 29.48% interest rate per annum
• 1.89% per month add-on
• Requirements needed:
  • Security Bank Form
  • Valid IDs
  • Income Tax Return (Latest)
  •  Audited Financial Statements (1 year)
  • Bank Statement (3 months)
  • Business or Mayor’s Permit
  • DTI Certificate
  • 3 trade references 

Citibank TPersonal Loan

• Loan as much as Php 1 Million
• 26.9% to 37.9% interest rate per annum
• Requirements needed:
  •  Php 250,000 minimum annual income
  • CITI Form
  • Valid IDs
  • Income Tax Return (Latest)
  • Principal credit card owner for a year
  • Audited Financial Statements (Latest)

Some would say that applying for a loan if you’re a freelancer is kind of hard since the bank is very strict in approving loans. But there’s nothing wrong if you will try. Check out the loan provider that you think will be best for you and then try to apply.

READ: Available Cash Loan Without Bank Account