Year: 2018

It’s easy to decide whether you should get a personal loan or not. If you are indeed in need, then go for it. However, there are also things which you should look out for in the long run. As with all transactions involving finances, you should be aware of the dos and don’ts, things to avoid when it comes to getting a personal loan. Here are just a few examples:

1. Avoid doing it on impulse.

Ask yourself, do you really need a personal loan? Applying for one and getting approved after is a big commitment. Remember, needs should definitely come before wants. If it isn’t then consider saving up for it instead of applying for a loan. Not only is saving up the less risky, it will also save you from paying tons of interest. It may just delay your desired purchase, but at least you wouldn’t have any interest rates or penalty fees to worry about.

2. Don’t just settle for the first personal loan you find.

Consider all your options. Go for one which will offer a better interest rate or other favorable terms. Learn to look around and compare all of the deals and offers. Surely, no lender would force you to avail their offer the first time, discover more which are out of the usual recommendations and you may just find yourself a great deal.

3. Never lie on a personal loan application.

Honesty is the best policy, dear friends. Lying will never get you anywhere, let alone, increase your chances of an approval. If that isn’t bad enough, did you know that providing false information on your personal loan application can be prosecuted as fraud and may result in jail time? That’s definitely a scary situation to be involved in. Tell your lender the truth and let them decide in the end. Your sincerity may just well be enough the factor that they are looking for in order to approve your application.

With all of that in mind, when you’re hoping to acquire a personal loan, look no further than Cebuana Lhuillier’s Happy Loan, a multi-purpose loan amounting to Php 5,000, Php 10,000, or Php 15,000 offered to any individual who is employed, self-employed, student, or a remittance beneficiary. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time.

So, you finally decide to apply for a business loan. You’re in dire need of funds to startup your small business and are hoping to get approved thereafter. This is all done with great intentions, but  such approval would need a certain amount of preparation, more specifically, the pre-requisite documents. No need to look further, as we had listed a few important ones for you to prepare. Some may vary depending on your chosen lender, so some requirements may be too much than the usual, however, it is always better to have extra documents ready for submission, rather than lack of it thereof:

1.Your background information.

It’s just natural for a lender to want to know more about the person applying for the loan. Let’s just think of it as their own safety measure, as some would really go out of their way to take advantage of careless lenders, and that is something that both major banks and lending establishments would want to avoid. They would very much ask for:

*Any prior names you may have used

*Previous addresses

*Educational and business background

In short, information similar to what you’d fill out on a job application.

2. Your business plan.

What is your business? What are you going to sell? What services are you going to offer? These are details that they would like to know of, and they would be able to see an outline of that through your business plan. If you want to borrow money, you’ll need to show a lender a business plan, especially, if you’re applying for a big amount. Even if you’re asking for a small amount, submitting a business plan implicates that you are sincere and serious about your intention to open up a business.

3. Your financial and bank statements.

*Basically, lenders require monthly or quarterly financial projections for the first year, then quarterly and/or yearly projections for the next four years.

*Lenders would require your bank statements, in order to confirm if it supports the claims you made in your financial statements and projections.

4. Documentation of collateral.

Collateral is a business or personal property you’re willing to put up, just in case you wouldn’t be able to deliver your part of the deal. You would be required to submit documents showing you indeed own the assets/items/properties up for grabs.

5. Other miscellaneous contracts and legal documents.

Specifically, they are the:

*Business licenses and registration

*Articles of incorporation

*Leases for commercial real estate or business equipment

*Franchise agreements

*Contracts with third parties such as clients or suppliers

Among other things…

After learning the pre-requisites, you may already want to jumpstart your business venture. Go for a trusted name that offers only the best service possible. With that, Cebuana Lhuillier’s Lucky Loan is definitely your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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It’s always tempting to let go of your savings and avail of the latest products in trend. If it isn’t your modern cellphones and gadgets, it’s the newest servings in your local fast food chains, quenching your thirst and hunger for that mouthwatering and savory meal, all thanks to aggressive advertisements. Due to these many temptations, it shouldn’t come as a surprise that a majority of us Filipinos are not able to save up in a yearly basis. Basically, it’s either we’re just getting through with our exact savings or we’re just in it for debt payments. It’s a sad reality; however, you can avoid falling to this particular situation if you would just avoid the following pitfalls:

1. Avoid withdrawing more than what you need.

Of course, everyone needs to refill their supplies, so a regular visit to the grocery is a must, but you should take note of the product prices and only withdraw the needed amount for the purchase. It’s not enough to cut down on your withdrawals; you should also be wise in choosing a much affordable item in the store. Not all mayonnaise are the same, but if one with a cheaper price tastes as good as the one with a hefty price tag, then you may need to go for the more economical choice. This would apply to all facets of your expenses, may it be bills, groceries, or even emergency expenses, only acquire the amount that you would exactly need, on order to avoid overspending.

2. Know what triggers and contributes to your spending.

This is a matter of self-control. Of course, we all need to eat, but you shouldn’t always go for an expensive snack if you want to limit your spending. Find alternatives to your daily routines. If your daily route is manageably a nearby walk, then stretch out your legs instead of booking a taxi. Avoid that expensive coffee shop and instead go for an affordable fast food brew. The possibilities are endless, and so are your choices.

3. Formulate a shopping list (and stick to it).

You make your own list, including milk and eggs. You arrive at the grocery, only to find that they had already ran out. You then find a few “on-sale” items and purchase those instead, thinking that you had saved a lot as they were indeed sold at a reduced price. This may sound logical enough, but if you were to look back, the amount that you had spent on the “on-sale” items were a lot higher than your supposed budget for the milk and eggs. When you go shopping without a list, it’s easy to get lost in the budget, and it’s much crazier to not follow your list if ever you had created one. Create a list; stick to it, and save a lot.

Be a master of your savings and hard-earned money with a trusted name that offers only the best service possible. If you’re a resident of Bacoor, Cavite, then Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account. All transactions are real time, erasing all the hassles that you may experience in other establishments. So what are you waiting for? Visit the Cebuana Lhuillier Rural Bank now – we assure a fast, easy and secure transaction.

You got your first car and are excited to be on the road. You’re ready to rev up the engine; however, are you ready for the unexpected pitfalls of driving? There are traffic laws that one should obey to ensure your own safety and the safety of those who are driving with you. It isn’t just about avoiding accidents, but also the sky-high expenses that go along with it in the offset of a sudden vehicle pile-up. Here are just a few dos and don’ts that you should keep in mind whenever you’re on the road:

Let’s begin with the Dos:

• Always wear your seat belt.
• Keep children in tested and approved car seats, no matter how much they beg or plead to get out. If you need, take frequent breaks so that little ones can stretch their legs.
• Review the official rules of the road for your jurisdiction periodically, and follow them always.

• • Follow the speed limits.
  • Pay attention when you are driving, even if you are familiar with the area. A surprising number of accidents happen only blocks from home!
  • Be courteous toward other drivers.
  • Give pedestrians the right-of-way in crosswalks.
  • Make room for bicycles.
  • Pay for your parking tickets or traffic tickets on time, unless you plan to contest them.
  • Keep a winter survival kit in your car for bad weather conditions. A good survival kit should contain a cell phone, matches, flares, a working flashlight, food, water, and blankets.
  • Make sure that your spare tire is in your car and that you have a working jack.
  • Make time for routine preventative maintenance on your car. Breakdowns can be dangerous and costly.
  • Plan your route out in advance for long car trips and keep a map or atlas in the car in case you get lost.

Now, let’s get to the Don’ts:

• Don’t drink alcohol and drive.
• Don’t let your emotions and frustrations get the best of you. Avoid road rage, at all cost.
• Don’t make assumptions about what other drivers are going to do. Just because someone has their turn signal on does not mean they are actually going to turn. They may be like the rest of us, and have forgotten that it is on!
• Don’t assume that other cars know what you are doing, either. Make sure that you use your turn signals and give yourself plenty of room to maneuver.
• Don’t tailgate other cars, pass on shoulders, fail to yield, run stoplights or stop signs (even if no one else seems to be around), or break any other rules of the road on purpose.
• Don’t play your car stereo so loudly you are unable to hear train signals or emergency vehicle sirens.
• Don’t talk on your cell phone and drive at the same time.
• Don’t engage in other activities, while driving, that distract your attention or reduce your reaction time. Eating, changing clothes, or putting on makeup while driving is definitely dangerous.
• Don’t leave valuables in your car, especially in unfamiliar places.

Memorize and comply with all of these, and you’d never have to worry about road accidents anymore. The more you know, the less chances of you getting involved in a dangerous situation.

Speaking of dos, you’d definitely want to avail a full-pledged service that has nothing but your best interest in mind. With that being said, nothing beats Cebuana Lhuillier’s AutoCARE Insurance, a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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