Being the most populated urban area in the entire Philippines, it’s capital, Manila is home to several business and commercial area. Hence it is a center of development, chances, and opportunities. But one can find himself stuck in the rat race of Manila, especially if he or she is from the province, and get into sticky situations. It may not be everything you hoped it would be. It may also be too expensive, too. So now you’re left with less cash than you originally planned, and you’re running out of it day by day. What do you do?
Luckily, being one of the centers of commerce in the Philippines, there are a lot of places where you can get a loan in Manila. Here are just a few:
- Traditional banks
If you need to get a loan, the best and the safest way is to get one from your local bank. Thankfully, there is no shortage of banks in Manila. Just be sure to have your complete requirements ready, so you can do it in a breeze. Also, it would help if you transact or apply a loan from a bank that you are already connected with, to get approved easier.
- Government agencies
If you don’t have enough requirements to get a loan from a bank, what you need to do is check in with different government agencies. For agencies like SSS, GSIS, and PAGIBIG, you have to be a member to be qualified for a loan. But there are others like the LGU or the DSWD that may provide you with some sort of financial assistance if necessary. It wouldn’t hurt to try.
If the first 2 options won’t work for you, you could always try pawning off your valuables for a little more cash. But remember to pay the loan back on time so you won’t end up losing your possessions.
If you’re just starting off, instead of a loan, you could also opt to get items in installment. Malls and some shops offer this, too. But don’t just get the one with the most months to pay, because that has a way bigger interest rate than the rest. Choose something in the middle.
Also, to keep yourself debt-free, try engaging in different ways to earn. WIth the advent of social media, it’s now easier to become an entrepreneur even at the confines of your home.