10 Advantages for Using Car as Collateral for Business Loan Vs Non Collateral Microfinancing Loan

Applying for Business Loan in the Philippines?

It can really be hard to come up with the right amount you need simply by applying for non-collateral microfinancing business loan. Whilst this is mostly the case for many investment owners in the Philippines, very few get the chance to be given other choices to get quick cash loan to fund business investment in the form of expansion funds. This is the reason for this post, to give business owners the power of choice should they qualify for other options like using the car as collateral. Car OR CR loan these days are offered without taking your car so you can still use that vehicle for business and other personal purposes.

Without Taking Your Car

10 Advantages for Using Car to Get Loan for Your Business

Instead of straight forward revealing the 10 top advantages of getting a car collateral loan processed instead of a regular business, loan, I would like to enlighten you, the borrower regarding this in the form of pros and cons. Below are my own ideas and concept for comparing non collateral business loan VS using car as collateral to expand or improve your business.

1. Car collateral loan takes as fast as 1 day release only compared to regular  non-collateral business loan which might take from 1 week to 2 weeks to approve. If via car impounding loan, it will only take 2-3 hours to release cash loan.
2. Business loan requires more documents to be submitted which are sometimes hard to come up with even if you qualify to apply like a bank statement which takes up to 2 weeks to request to banks.
3. Fast cash hand over for car loan
4. Business loan requires a co-borrower to approve loan application while car loan doesn't
5. Most providers for business microfinancing require credit investigation (C.I.) while car loan doesn't require if amount is less than 400K.
6. From car collateral loan, it is less likely that you will get disapproved of an application.
7. Standards for approving high risk loan such as the non collateral business loan is much higher than a car loan.
8. Court cases may take effect and may cause loan application disapproved for business loan unlike with using the OR CR of your car to get fast cash.
9. Car loan doesn't require the borrower to surrender the vehicle. Instead, only the original OR CR so he or she can still use the collateral item for business or personal purposes.
10. Car loan offers lower interest rate as low as 1% only compared to business loan without collaterl which offers as high as 5% interest rate.

No Hidden Charges on Your Loan Proceeds

Despite the listed advantages for using collateral to get cash for business improvement or expansion, many business owners still don't know that they have this option when applying for loan to lending companies in the Philippines. Luckily, with me, you absolutely have the widest options and choices by availing of my free loan application assistance and consultation.

For parties interested to apply for business loan, please consult with me. It's absolutely 100% FREE of charge. You loose nothing! Just a few minutes of your time asking me what might work for you to get cash as fast as possible. CONTACT ME BELOW.

Ask Your Loan Consultant Now!

Call me to apply for Business Loan – Sam Casuncad (Pinoy loan consultant)
Home office phone: 542-7015 or 366-3645
Sun Cellular No 0932 – 872 5532
Smart Cellular No 0939 – 9269335
Globe No 0917 – 5019245
Email application form at info@loanph.com OR samcasuncad.ofwcashloan@gmail.com