The number of positive coronavirus cases continues to surge every single day. This is just a reminder that although our country has lifted some of the strict quarantine measures, we should still be more vigilant and stay under the safety and comfort of our home as much as possible. However, aside from being a horrible threat to our physical health, COVID-19, clearly have a huge impact on our financial health too. Fortunately, there are still a number of dependable online lenders you can count on even in this time of the pandemic. Thus, here are some tips and reminders to make sure that you’ll find them and you’ll only make 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 makes sure that they are operating legally according to the Philippine laws. In doubt or not, you should make it a point to visit 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 definitely 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 are looking for 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 their business and how they have grown over the years. 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 to analyze other people’s opinions and experiences about them. Doing some quick search in Google will give you a clear heads up to what kind of lending company you are dealing with. 

3. Read their terms and conditions thoroughly

Knowing their company history and business profile will not be enough. Making a transaction with a lending company means that you agree with their terms and conditions and thus, you must ensure that 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 address where they allow face-to-face interaction with their clients. You can try and check them in person, so you can personally see how they work and then decide if you want to be involved with them. 

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. Try contacting their customer service

Good customer service, whether via email, chat, or telephone is a must, not just in online lending business but in every company. Thus, if you encounter any kind of unprofessionalism or any rude behavior, you might want to think twice if you want to proceed to 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, simply check our loan page today or download our mobile app for a hassle-free and more convenient loan application. 

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