FAQ

Choose a Trustworthy Loan Company in the Philippines

 

Frequently Asked Questions


 

Why should I choose Capital Union Lending?

Our customers prefer to deal with us because we help them to get affordable loans quickly and easily. We take time to understand their needs and suggest solutions that are tailored to their needs. Our experienced employees and consultants help them to make the right choices. We offer an easy application process, fast processing, low interest rates, and flexible payment terms. Capital Union has clear, transparent, and fair terms.

Who are eligible to apply for Capital Union offered loans?

For Personal Loan:
-Regular employees or employees who have been hired for at least 6 months.
Note: Employees from a law office firm, and employees who are working in a Collection department of any firm are NOT eligible to apply.
For Business Loan:
-Entrepreneur with at least 1 year business operation, and has a complete standard business documents.
For more information about business documents, please read details on ‘For Businesses (Business Loans)’ section under ‘How to Apply’ topic.

Will I have to pay a fee when I apply?

You will not have to pay any fee before you are assessed for a loan. Once your loan has been approved, a small processing fee will be deducted from the amount of the loan.

How much can I borrow?

Personal Loan: Php 10,000 – Php 100,000.

Business Loan: Php 10,000 – Php 100,000.

Car Loan: the amount will depend on your qualifications.

How soon will I have to repay the loan?

Personal Loans: can be paid back in 6 months – 1 year

Business Loans & Car Loans: more flexible repayment terms are applicable, which are based on your qualifications

What interest rates apply?

Monthly interest rates ranging from 1% — 7% may apply to personal loans and business loans. These adjustable or variable interest rates are based on the payment scheme and your qualifications.

What are my responsibilities when I take a loan?

You must take these steps to avoid becoming a victim of fraud when you apply for a loan:

  • Honestly reveal any past or present credit problems
  • Read and understand every document before you sign it
  • Refuse to sign any blank documents
  • Correctly report all your debts

 

Some of the things you must not do:

  • Providing supporting documents that are false
  • Overstating your assets, income, or period of employment
  • Mentioning a fake co-borrower or co-maker in your application

Altering your income tax returns for any reason

What if I miss a payment?

We realize that sometimes borrowers may not be able to pay their installments on time. Borrowers are advised to inform us in advance if they will not be able to make the payment. We will try to work out a solution if you inform us in advance. We reserve the right to impose penalties if you are not able to make payments according to the schedule.

What if my check bounces?

You need to be aware of the law that covers a person who post-dates a check or issues a check in payment of an obligation when he / she does not have any funds in the bank or if the funds are not enough to cover the check.

 

If the drawer of the check fails to deposit the amount needed to cover the check within 3 days after receiving a notice from the bank and / or the holder or payee that the check has been dishonored because of insufficient funds, it will be prima facie evidence of dishonesty that constitutes false pretense or a fraudulent act.