The number of positive coronavirus cases continues to surge every single day. This is just a reminder that although our country has lifted some strict quarantine measures, we should still be more vigilant and stay in the safety and comfort of our homes as much as possible. However, aside from being a horrible threat to our physical health, COVID-19 also significantly impacts our financial health. Fortunately, there are still several dependable online lenders you can count on, even in this time of the pandemic. Thus, here are some tips and reminders to ensure you’ll find them and only make a deal with a legit and reputable online lending company.
1. Confirm if they are SEC-registered
SEC, or the Securities and Exchange Commission, is a governing body in the Philippines that regulates and inspects financial organizations and ensures that they operate legally according to Philippine laws. In doubt, you should make it a point to visit the SEC’s official website to check if the lending company you want to borrow money from is included in their list of legit and reputable lenders. Doing so will save you from a lot of trouble if anything happens.
Vidalia Lending Corp. is regulated by the Securities and Exchange Commission (SEC) with License No. CS200813771 and Certificate of Authority No. 279 issued in October 2008. If you want a loan with lower interest rates, no prepayment penalty, and hidden fees, proceed to our loan page or download the Vidalia mobile app today.
2. Check their business profile
A legit lending company must provide a clear history of its business and how they have grown. This information should be available to the public and can easily be found on the company’s official website or other online platforms. Other articles featuring them will also help you analyze other people’s opinions and experiences. Doing a quick search in Google will give you a clear heads up on what kind of lending company you are dealing with.
3. Read their terms and conditions thoroughly
There needs to be more than knowing their company history and business profile. You agree with their terms and conditions, so you must ensure you completely understand every bit of it. Note that a legit lending company must have a decent privacy policy, and their terms of use are reasonable and easy to read.
4. Check their physical address
Having a virtual address is legal, but having a physical address is a lot more reassuring. Established lenders mostly have registered office addresses allowing face-to-face interaction with their clients. You can check them in person to see how they work and decide if you want to be involved.
5. Look for their online ads
If you cannot visit them in person, especially during this pandemic, another way to determine an online lending company’s legitimacy is through their advertisements and online presence. Although this will not guarantee anything, their online materials can serve as a good lead for you if their loan offers are active and legitimate.
6. Contact their customer service
Good customer service, whether via email, chat, or telephone, is necessary for the online lending business and every company. Thus, if you encounter any unprofessionalism or rude behavior, you might want to think twice to proceed with your business with them.
Vidalia Lending has helped thousands of customers with their financial problems since 2008. If you are looking for a legit online lending company to answer your financial needs during this pandemic, check our loan page today or download our mobile app for a hassle-free and more convenient loan application.
