There may be times when you find yourself in dire need of funds to address an immediate financial obligation. Say, the rent is due but because of a sudden medical emergency in the family, you’re out of cash. Getting a loan is obviously a quick solution.

Ignore the folks who wince at the thought of borrowing money. Getting a loan helps countless Filipinos solve time-sensitive financial problems, and it can help you too! It’s simply the fastest way to get through an emergency.

Thankfully, innovations in financial technology have made it even easier and faster to apply and get a personal loan in the Philippines. Heaven knows how fast loan approval is crucial during financial emergencies.

To make sure your loan gets approved quickly and without a hitch, it’s paramount that you do your part as a borrower. Here are a few things you can do to fast-track the approval of your personal loan:


1. Find out what the requirements are and if you meet the lending institution’s criteria

Before applying for a loan, check the loan requirements first. This way, you have ample time to prepare. For example, to get a loan from a bank, you’ll be required to supply proof of income (e.g. income tax return). You’ll need to request that from your employer beforehand since producing that documents may take a few days.

Also, by simply checking out the requirements, you can already determine if you’re qualified for the loan. Otherwise, you will be wasting your time applying for a loan you’re not eligible for in the first place.

For instance, to avail a Pag-IBIG Multipurpose Loan, you’ll need to have had 24 months of contribution.If you didn’t know that, you would have gone through all the hassle of the application process only to discover that your loan application was denied because you aren’t eligible to begin with.

Before anything else, do your research. Financial institutions generally list down what you have to present. You can find the list on their websites to make it easier to collate.

2. Submit the complete set of documentary requirements

Lending institutions usually require a valid government-issued ID plus documents that will serve as proof of income. This is to identify the borrower and help the financial institution asses if you have the capability to pay off the loan. Making sure that you submit complete and valid requirements can fast track your application and boost the likelihood of getting approval.

Make a checklist of all the documents you need to submit; before you send them, double check

to make sure you didn’t leave anything out. One missing requirement can hold back your application for weeks.

3. Give truthful information

When dealing with financial institutions or fintech companies regarding loan applications, the truth always puts you at an advantage. This lets them know that you can be trusted, giving you the leverage you need for getting that approval. If every information checks out, you’re a few steps closer in taking care of that substantial financial burden that’s been giving you a headache.

4. Determine the realistic loan amount you need

Setting an amount that you need to pay off a financial obligation is essential when applying for a loan. Set it too high, and you may not only have a tough time settling the amount, but your loan application might not even be approved too. On the other hand, if you set the loan amount too low, you won’t be able to address your need. The key here is knowing how much you need and which is an amount you can quickly pay off.

5. Pay past loans on time, or better yet, earlier

Paying on time minimizes the risk of growing your debt to such a huge amount that it becomes difficult to settle. More importantly, when you fail to pay your debt on time, it becomes part of your credit history. This can severely hurt your credit score and compromise your chances of getting the next loan approved.

Paying your debts on time or earlier is a crucial step in maintaining a good credit standing, which in turn is vital in getting faster loan approvals. The faster you pay off a debt, the faster you can apply for the next loan. It is also good to note that when it comes to online lending services, you may even get a higher amount to loan if you’re an excellent debtor.

 6. Check out faster (but secure) credit options such as Cashalo

The fintech boom has brought obsolete financial systems up to date. We now have credit app services such as Cashalo that offers Filipinos an easier and faster way to address their financial obligations. You don’t have to go through the motions of submitting documents. All you have to do is download the app, fill out a form with your personal, work, and bank details, and you’re ready to go.

The convenience could be invaluable if you ever find yourself in a financial dilemma where you need funds on demand. With the Cashalo credit app, you can get approval in as fast as 24 hours.


Stick to the Guidelines

When applying for an online loan, it’s always prudent to follow the guidelines. You will be borrowing money, so it’s essential to be ready to comply with the lending entity’s requirements to fast track your loan approval. Keep the useful tips above in mind, and you’ll go through your loan application process with ease.

If you urgently need the cash within 24 hours, Cashalo has your back! With its speedy turnaround time, faster approval than banks, fewer documentary requirements, and low-interest rates, you’ll be out of any financial emergency in no time. Install the credit app now!

About Cashalo

Cashalo is operated by Paloo Financing, Inc., a licensed financing company with SEC Registration No. CSC201800209 and Certificate of Authority No. 1162.

Always study the terms and conditions and the disclosure statement before proceeding with any transaction. Cashalo is regulated by the Securities and Exchange Commission, with email address at

For any questions or concerns, please contact

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