If one goes to a typical bank, applying for a business loan could become a complex procedure. In fact, traditional banks make the loan application so tedious that it makes some entrepreneurs nervous or anxious about their chances of approval. The application process in itself is a challenge given the number of requirements involved.
So, if you find that applying for a business loan is a daunting task, read on because there’s a better way.
Cebuana Lhuillier, the country’s top community-based lending and money remittance firm, makes everything easy whether you’re an experienced business person or a first-time entrepreneur. The company believes that its customers must receive fast, convenient service especially when it matters most — when they are in need of cash to put up or sustain a business.
In just four easy steps, you can finally work on your way to making it in the business. Read on and learn how you can apply for a business loan absolutely hassle-free.
- Prepare the loan requirements
The first step is to prepare all the loan requirements. These include at least one valid government-issued I.D., your business permit, and proof of income. The proof of income may either be a payslip for a full month or an Income Tax Record (ITR). A sales record or bank statement may be used by self-employed loan applicants. It is also important to submit a proof of billing such as a statement of account or receipt for electricity, water, or cable T.V. A credit card billing which shows the applicant’s address is also acceptable.
- Submit the requirements
After gathering all the loan requirements, one needs to submit these documents to a Cebuana Lhuillier branch. There are more than 2000 Cebuana Lhuillier branches around the country. It is best to choose the branch that is nearest to your residence or workplace.
- Fill out Application Form
Make sure to ask for and completely fill-out the loan application form. It is important to write complete and accurate information for all fields cited in the application form.
After signing the forms, return it to the sales agent or staff at Cebuana Lhuillier and wait for their advice. It normally takes Cebuana Lhuillier at least three days to review and process the loan application.
- Wait for the Loan Approval
Cebuana Lhuillier has made its loan application process so easy and customer-friendly. The loan applicant will actually receive a text message once his or her application is approved. Once you receive notification about the loan approval, there is only one more step to take.
- Coordinate with the Cebuana Lhuillier Sales Agent for the next steps and other requirements.
The last step is to coordinate with the Cebuana Lhuillier sales agent who will provide additional information on how to secure and receive the loaned amount.
The funds or proceeds of the loan are given at the Cebuana Lhuillier branch where the loan application was filed. The person who applied for the loan must present a valid identification card and the “Release Code” that was sent by Cebuana Lhuillier via text message.
Since there are more than 2,000 Cebuana Lhuillier branches around the country, claiming a loan has never been so easy and accessible.
Once an applicant receives notification of loan approval, he or she must immediately take the next steps to receive the funds or proceeds. Approved loans are valid for seven days. If the loan is unclaimed after seven days, Cebuana Lhuillier would consider the loan as cancelled or revoked.
Given the five easy to follow steps in getting loan with Cebuana Lhuillier, the goal of becoming successful in business is now more attainable than ever.
Image source: https://images.pexels.com/photos/261664/pexels-photo-261664.jpeg?w=940&h=650&auto=compress&cs=tinysrgb