- Interest rate (p.a.)
42.00% - 42.00%
- Loan Tenure
0.5 - 1 years
- Approval Duration
3-5 working days
- Min. monthly income
What's so great about RFC Business Loan?
- Borrow from a minimum of ₱100,000 to maximum of ₱1,000,000
- Very low income requirement
- Repay your loans in tenures of 3, 6, 9 up to 12 months
|Min. financing amount||₱100,000.00|
|Max.financing amount|| ₱1,000,000.00|
|Min. loan tenure||3 months|
|Max. loan tenure||12 months|
|Interest rate||3.5%-4% per month|
|Approval duration||3-5 working days|
Fees & Charges
|One time set up|
|Processing fee||6% of approved loan amount|
|Stamp duty||12 months = (PNV / 200) x 1.5; < 12 months = ((PNV /200) x 1.5) x (term / 12)|
|Disbursement & misc. fee||₱200 notarial fee / Insurance (GCLI) = (PNV / 1,000) x 20|
|Late payment charges||5% of amount due|
|Age requirement||Age 21 - 64|
|Employment eligibility||Filipinos only with permanent residence|
|Min. salary requirement||₱7,000 gross per month|
|Guarantor / Collateral requirement||Yes|
|Need to open linked banked account?||No|
|Other details||Third Party Payment Channels ECPay (available in 7/11 stores), Bayad Center, Metrobank, Eastwest Bank, UCPB, RCBC and BDO|
Product Review by
RFC Business Loan FAQ
For the past 50 years, Radiowealth Finance Corporation (RFC) has been offering a variety of loan solutions catering to those with different financial needs. As a fully Filipino owned company, they specialize in products that target specific funding requirements that ranges from OFW and salary loans, education, as well as appliance and car loans. In terms of enterprises, they also offer business loans that can serve capitalization demands covering purchase of heavy equipment and machinery, medical apparatus, or even store inventory and working capital loans for SMEs. With their business loan, you can borrow any amount starting from ₱100,000 up to ₱1,000,000 for as low as 3.5% add-on rate per month. They also offer flexible loan tenure from 3, 6, 9, up to 12 months. Featuring easy application requirements, you are qualified for a loan if you earn a minimum monthly income of only ₱7,000 (provincial) and ₱10,000 for Metro Manila borrowers aged 21 to 64 years old.
Advantages Of Applying With RFC:
- No collateral required.
- Very low monthly income requirement.
- 3.5% add-on interest rate per month.
- Flexible loan tenure of 3, 6, 9, up to 12 months.
Go through the details below for more information.
How much can I borrow?
With RFC Business Loan, borrow from as low as ₱100,000 to as much as ₱1,000,000 subject to approval.
What are the RFC Business Loan Requirements?
An applicant must fulfill RFC's eligibility criteria for a loan:
- For employed, at least 6 months employed or permanent status or at least 1 year employed for BPO / Contractual / under agency.
- For self-employed, business must at least be 1 year operational & duly registered.
- For OFW's or allottees, must be working or receiving remittance for at least 1 year already.
- Borrower must be at least 21-64 years old.
- Must be Filipino citizen and with permanent residence.
Consequently, after filling out an application form, the following documents are necessary:
Self–Employed applicants need:
- 2 valid government-issued IDs
- Proof of Business (Valid DTI Reg & Business/Brgy Permit)
- Picture of business
- Proof of income from business
- Latest Proof of Billing
- 4 character references (2 relatives + 2 trade references)
*Additional documents may be required during credit evaluation.
How does the RFC Business Loan Calculator work?
The RFC Business Loan calculator computes the estimated cost of borrowing and amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
Make sure you compare other options that are available in the market and choose the product that best suits your financial requirement:Esquire Financing Business Loan
Zenith Business Loan
Global Dominion Financing, Inc. Doctors Loan
Don’t lose sight of your goal and keep your business running smoothly with the needed funds that will keep the momentum going. However, if your funding need is quite urgent and going for traditional banks is not an option, you can also consider online cash loan providers listed on our site that are both reliable and reputable in providing the needed cash for your venture.