Frequently Asked Questions
Are collateral insurances included in the loan requirements?
Yes, all forms of collateral has an insurance requirement. Our company has an affiliate company, World Partners Insurance, that is an authorized broker of all major insurance companies in the country. It can provide for the best insurance cover and the best insurance premiums payment required.
What are the loan requirements?
You may access all loan requirements per loan type through our downloadable forms.
Are collaterals required for loan applications?
For long term loans, collateral is required to secure a loan. For short term loans, a risk assessment per application is made by the company to determine if collateral is required. Collateral also reduces the risk factor and thus providing for lower interest rate charges.
What are your office hours?
The PGFC office is open from 7:00 AM to 6:00 PM.
How long is the loan application process?
From complete submission of documents, we can process approval up to five (5) working days.
How is payment made?
Depending on the repayment terms, post dated checks of the borrower is required.
Are there any charges imposed on the loan?
The company requires an upfront payment for appraisal of real estate, equipment and inventory as collaterals.
Processing fees are also charged but, only after approval and collected upon first availment of the loan.
What are the repayment terms of the loan?
Short term working capital requirements are provided short term loans, up to one year expiry. These loans are re-available after full payment. Tenor of availment is up to 1 year maximum.
For business expansions and acquisitions of equipment, we can provide up to a maximum term of 5 years payable regularly via monthly principal and interest. Drawdown of this loan type is one time. Grace period on principal payment may also be provided depending on the expansion purpose.
How much do you charge for the interest rates?
Our interest rates ranges from 1.5% per month to 3.0% per month depending on the borrower’s credit risks.