• Interest rate (p.a.)

    42.00% - 42.00%

  • Loan Tenure

    0.5 - 1 years

  • Approval Duration

    3-5 working days

  • Min. monthly income

    ₱15,000

Loan calculator
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Monthly salaryRM0
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What's so great about RFSC 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

Product Features

Min. financing amount₱100,000.00
Max.financing amount ₱1,000,000.00
Min. loan tenure3 months
Max. loan tenure12 months
Interest rate3.5%-4% per month
Approval duration3-5 working days
Debt consolidationNo

Fees & Charges

One time set up
Processing fee6% of approved loan amount
Stamp duty12 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
Penalties
Early settlementN/A
Late payment charges5% of amount due

Eligibility

Age requirementAge 21 - 64
Employment eligibilityFilipinos only with permanent residence
Min. salary requirement₱15,000 gross per month
Guarantor / Collateral requirementYes

Other Requirements

Need to open linked banked account?No
Other detailsThird Party Payment Channels ECPay (available in 7/11 stores), Bayad Center, Metrobank, Eastwest Bank, UCPB, RCBC and BDO

Product Review byiMoney

For the past 50 years, RFSC 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 range 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 the 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 ₱15,000 borrowers aged 21 to 64 years old.

Advantages Of Applying With RFSC:

  • 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.

RFSC Business Loan FAQ

How to apply for an RFSC Business Loan?

You can apply for an RFC personal loan through their website or you can conveniently apply through our online application form.

How much can I borrow?

With RFSC Business Loan, borrow from as low as ₱100,000 to as much as ₱1,000,000 subject to approval.

How does the RFSC Business Loan Calculator work?

The RFSC Business Loan calculator computes the estimated cost of borrowing and the amount of payment per installment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.

What are the fees and charges for RFSC Business Loan?

A processing fee of 6% of the approved loan amount and a notarial fee of ₱200.

What types of loans can I get from RFSC?

RFC provides two types of loans: Personal and Business Loan.

What are the RFSC Business Loan Requirements?

An applicant must fulfill RFSC'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, a 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.

When is the due date of my monthly instalment?

The due date will be based on the date of your approval.

What are the payment methods for this loan?

The payment method for the RFC Business Loan is through a Post-Dated Check (PDC) only.

Is there any late payment charges?

RFC Business Loan charges 5% of the amount due as a late fee.

Is RFSC Business Loan the right one for me?

If you don’t mind borrowing from non-bank financial providers your business loan, then RFSC Business Loan is one that you should consider. Having no collateral requirement and relatively lenient eligibility criteria of just ₱15,000 gross monthly income makes it an enticing product for you to apply for additional business funding. Repayment terms are also flexible which allows you ample time to secure the cash flow of your operations. Albeit the rates are higher compared to conventional banking institutions, rest assured that being in the industry for more than 50 years, you will receive the same level of security and customer service that you will get from your regular commercial banks.

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

Having a business requires a lot of time, effort, and most importantly, capital in order to get things up to speed. If your venture is still in its initial stage and funding is one of your immediate concerns, then you can consider applying for an Esquire Financing business loan. Borrow from a minimum of ₱100,000 to as high as ₱10,000,000 and get the additional funds in as fast as 7 business days. Offering a reasonable interest rate of 1% - 3.5% per month without the need for any collateral, it also comes with a flexible payment term from 3 months up to 1 year. To qualify for this loan, you must be 21 to 59 years of age with a minimum salary of ₱30,000 gross per month.

Zenith Business Loan

If you are running a business, you always have to be prepared for any unforeseen scenario that could slow down your operations or derail your future plans. Most of the time, these circumstances arise from urgent budget requirements that have unexpectedly come up. One way to resolve this issue is to consider taking a Zenith Business Loan to fill in this immediate financing need. You can borrow from ₱100,000 up to ₱10,000,000 at a reasonable interest rate of 2.5% per month. With fast loan approval and release, you can receive the additional funds straight to your bank account in as fast as 7 working days. Flexible payment terms are also available, where you can pay starting 3 months up to a year. To be eligible, your business should be registered and running for at least 1 year. You will also need to have a minimum monthly gross income of ₱20,000 and must be 21-64 years old.

Global Dominion Financing, Inc. Doctors Loan

It can be quite a challenge for medical professionals to start up their own practice, especially without the required capital. Fortunately, Global Dominion Financing offers a Doctor’s Loan that’s ideal for medical practitioners, dentists, and other physicians who are in need of funding to help them put up their own clinic. What’s great is that there is no minimum monthly income requirement. You can borrow loan amounts starting from ₱50,000 to as much as ₱300,000 with an interest of 1.75% per month. Upon approval, you can receive the funds you need in as quick as 1-3 working days. A flexible payment term of up to 1 year is also offered. Applicants are required to present their PRC ID and Patients’ Ledger and must be 21 - 60 years of age.

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.