Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.2

Blend

Advertiser Disclosure

About Blend

Blend PH, operated by Inclusive Financial Technologies, Inc., stands as a secure and reliable online peer-to-peer funding platform, providing tailored loan products to meet the diverse financial needs of Filipinos nationwide. As a facilitator of lending services, Blend PH offers a range of consumer loans, including personal loans, business loans, franchise loans, and specialized options such as seafarer loans and auto sangla loans. The platform is designed to deepen customer relationships by offering a seamless online lending experience, making dreams achievable through hassle-free lending.

The platform operates within a framework that adheres to the Data Privacy Act of the Philippines, ensuring the safety of stakeholders' information. Blend PH, a Securities and Exchange Commission (SEC)-registered entity with the registration number CS201908028, caters to both borrowers seeking financial assistance and lenders looking for investment opportunities.

Blend

Key Features

  1. Diverse Loan Products. Blend PH offers a variety of consumer loans tailored to meet individual needs, including personal loans, business loans, franchise loans, fast loans, seafarer loans, auto sangla loans, educational loans, and salary loans.

  2. Flexible Terms. With repayment periods ranging from 1 to 36 months and interest rates varying between 1.5% and 8% per month, Blend PH provides flexibility to borrowers, accommodating a wide range of financial situations.

  3. Online Application Process. Blend PH streamlines the lending experience with a user-friendly online application process. Borrowers can easily check eligibility, submit required documents, and complete the application from the comfort of their homes.

  4. Peer-to-Peer Funding Platform. Serving as a bridge between borrowers and lenders, Blend PH operates as a peer-to-peer funding platform. Lenders can invest their funds intelligently, while borrowers can access quick and easy cash loans.

  5. Efficient Credit Evaluation. Blend PH employs a systematic credit evaluation and endorsement process, ensuring that loan applications are thoroughly assessed before being presented to partner investors.

  6. Blend Wallet. For lenders, Blend PH offers a secure wallet system, allowing them to easily credit their funds and commence funding online loan applications that align with their investment preferences.

  7. Transparent Loan Calculations. Borrowers can utilize the loan calculator to check their eligibility and gain transparency into the terms and conditions of their desired loans, promoting informed decision-making.

Pros and Cons

Pros

Diverse Loan Options. Blend PH provides a wide array of loan products, catering to various financial needs, from personal expenses to business ventures.

Quick Approval and Disbursement. Efficient credit evaluation and endorsement processes lead to swift loan approvals. Borrowers can access funds promptly once their applications are accepted.

SEC Registration. As a registered business entity with the Securities and Exchange Commission, Blend PH provides users with a sense of security and trust in their financial transactions.

Cons

Risk Classification. The risk-based interest rate system may result in higher costs for borrowers classified as higher risk. This might limit access for individuals with lower creditworthiness.

Online Dependency. The platform's reliance on online processes may pose challenges for individuals with limited internet access or those who prefer traditional, in-person banking experiences.

Incomplete Applications. The system's automatic rejection of incomplete applications after two weeks may inconvenience users who encounter delays in gathering necessary documentation.

Reliability

Blend PH underscores its commitment to reliability as a prominent feature of its peer-to-peer lending platform. By operating as an online facilitator of financial services, Blend PH aims to connect borrowers and lenders efficiently, fostering a reliable channel for individuals seeking loans and investors looking to deploy their funds intelligently.

The security measures implemented by Blend PH contribute significantly to its reputation for reliability. Strict adherence to the Data Privacy Act of the Philippines ensures that stakeholders' sensitive information is handled with the utmost confidentiality, bolstering the trust of users. Blend PH's status as a registered business entity with the Securities and Exchange Commission (SEC) further solidifies its commitment to reliability and transparency, providing users with assurance regarding the legitimacy and regulatory compliance of the platform.

How to Apply for a Blend Loan?

Apply for a Loan

  1. Check Eligibility. Log in or create an account on the Blend PH website to assess your eligibility for a loan. Utilize the Loan Calculator to get an estimate of the loan amount and terms that align with your financial needs.

  2. Submit Application. Fill out the loan application by uploading all necessary documents and responding to credit-related questions. Upon submission, Blend PH's underwriting team will evaluate your application and requirements for endorsement to partner lenders.

  3. Credit Evaluation and Endorsement. Blend PH conducts a thorough credit evaluation, validating and verifying the information and documents submitted. Once verified, your loan application will be endorsed to partner lenders for funding.

  4. Loan Approval. Expect a call from the partner investor upon successful approval of your loan application. Once approved, the disbursement process begins, and your funds will be made available immediately.

The processing time for evaluation can vary from 24 to 48 hours, depending on the completeness of your submitted requirements and the accuracy of the information provided.

Conditions and Requirements

Conditions

  1. Flexible Repayment Terms. Blend PH provides borrowers with the flexibility to choose repayment periods ranging from 1 to 36 months, allowing them to tailor the loan term according to their financial capabilities.

  2. Competitive Interest Rates. Borrowers can benefit from competitive interest rates ranging from 1.5% to 8% per month, depending on the specific loan product and risk type, ensuring reasonable and transparent financing costs.

  3. Diverse Loan Products. Blend PH offers a variety of loan products, including personal loans, business loans, franchise loans, fast loans, seafarer loans, auto sangla loans, educational loans, and salary loans, catering to diverse financial needs.

  4. Transparent Loan Calculations. Borrowers have access to a transparent loan calculator to check eligibility and understand the terms and conditions before committing to a loan, promoting informed decision-making.

Requirements

  1. Document Submission. Upload all necessary documents as part of the loan application process. The underwriting team will evaluate your application based on the information and documents provided.

  2. Timely Response to Queries. Respond promptly to any queries or additional information requests from Blend PH's underwriting team. Timely responses contribute to a smoother evaluation process.

  3. Verification of Information. Ensure that all information provided during the application is accurate and verifiable. Blend PH conducts a thorough credit evaluation, and discrepancies may impact the application process.

Ways to Receive the Money

Once your loan application is approved, Blend PH facilitates a secure electronic fund transfer directly to the bank account you provided during the application process. This method ensures a swift and hassle-free transfer of funds.

Products

  1. Personal Loan (₱50,000 to ₱2,000,000). A versatile loan option designed to address individual financial needs, with interest rates based on risk type ranging from 1.5% to 3% per month, and flexible repayment terms varying from 12 to 36 months.

  2. Franchise Loan (₱50,000 to ₱2,000,000). Specifically crafted for those interested in franchising opportunities, this loan offers a fixed interest rate of 2% per month and a repayment period of 12 to 36 months.

  3. Business Loan (₱100,000 to ₱2,000,000). Tailored for entrepreneurs, this loan provides a range of interest rates from 1.5% to 3% per month based on risk type, accommodating diverse business financing needs with terms ranging from 6 to 36 months.

  4. Fast Loan (₱10,000 to ₱40,000). Ideal for those in need of quick and smaller amounts, the Fast Loan offers a fixed interest rate of 8% per month and short-term repayment options ranging from 3 to 6 months.

  5. Seafarer Loan (₱50,000 to ₱500,000). Catering to the unique needs of seafarers, this loan comes with a fixed interest rate of 3.5% per month and a repayment term spanning 2/3 of the contract period.

  6. Auto Sangla Loan (₱10,000 to ₱3,000,000). Geared towards individuals looking to leverage their vehicle assets, this loan offers a competitive interest rate of 1.5% per month and flexible repayment terms ranging from 6 to 24 months.

  7. Educational Loan (₱20,000 to ₱25,000). Specifically crafted for educational expenses, this loan provides a fixed interest rate of 3% per month and short-term repayment options ranging from 1 to 6 months.

  8. Salary Loan (1 Month Salary). Tailored to address immediate financial needs, this loan offers a fixed interest rate of 3% per month and short-term repayment options ranging from 1 to 6 months.

Other Loans

Reasons for Getting Rejected for a Blend Loan

  1. Risk Type Assessment. Blend PH categorizes applicants into different risk types (A, B, or C) based on their creditworthiness. Those falling into higher-risk categories may experience rejection or be offered loans with less favorable terms.

  2. Minimum Risk Acceptance Criteria (MRAC). The MRAC system assesses the eligibility of borrowers during registration, automatically rejecting those who do not meet the criteria. Common reasons for rejection may include being a minor, non-regular employee, or having a salary below the minimum wage.

  3. Credit Score Evaluation. Blend PH utilizes an Internal Credit Score, employing a binary logistic regression model. Rejection may occur if the credit model indicates a high probability of default based on the borrower's provided information.

  4. Credit Report Check. Blend PH cross-verifies information by checking credit reports from trusted third-party credit bureaus. If an applicant has existing loans with other financial institutions, it may impact their eligibility for a Blend loan.

How to Repay a Blend Loan?

Repay

  1. Loan Agreement and Terms. Familiarize yourself with the loan agreement and the terms associated with your specific Blend loan. Understand the repayment schedule, including the due dates and the total amount to be repaid.

  2. Payment Methods. Blend PH provides multiple payment methods for borrowers' convenience. These methods may include online payments, bank transfers, Blend Wallet.

  3. Timely Payments. Ensure that you make payments on or before the due date. Timely payments are crucial for maintaining a positive credit history and avoiding any potential late fees or penalties.

  4. Loan Account Monitoring. Regularly monitor your Blend PH loan account for updates on your repayment status. The online platform typically provides a dashboard where borrowers can track their payment history and remaining balance.

  5. Customer Support. If you encounter any issues or have questions regarding the repayment process, don't hesitate to reach out to Blend PH's customer support. They can provide assistance and clarification on any concerns related to loan repayment.

  6. Regular Communication. Stay informed about any changes in loan terms or payment requirements. Blend PH may communicate important updates or changes to borrowers via the online platform or through email notifications.

Alternatives

JuanHand

Apply for a Loan

JuanHand offers online loans in the Philippines, providing individuals with access to up to ₱15,000 for a repayment period of up to 3 months. The lending platform stands out with competitive interest rates ranging from 9% to 12%. With a focus on simplicity and convenience, JuanHand aims to meet the short-term financial needs of borrowers through a streamlined application process and timely disbursement of funds.

JuanHand

Cashalo

Apply for a Loan

Cashalo is a prominent player in the online lending landscape in the Philippines, offering loan amounts ranging from ₱1,000 to ₱7,000 with repayment terms extending up to 90 days. Known for its accessibility, Cashalo provides borrowers with a starting interest rate of 3.95%. The platform's commitment to financial inclusion is evident in its user-friendly app, quick approval processes, and the flexibility it provides to individuals seeking smaller loan amounts for various purposes.

Cashalo

SB Finance

Apply for a Loan

SB Finance stands as a significant financial institution in the Philippines, providing substantial loan amounts ranging from ₱30,000 to ₱2 million. With flexible repayment periods spanning 2 to 48 months, borrowers can tailor their loan terms to fit their financial goals. SB Finance boasts competitive interest rates, starting at 1.2% and going up to 3.5%. This lending institution combines the strength of its parent company with a commitment to offering diverse loan products to meet the evolving needs of Filipino borrowers.

SB Finance

Online Loans Pilipinas

Apply for a Loan

Online Loans Pilipinas caters to a range of borrowing needs with initial loan amounts of ₱1,000 to ₱7,000 for first-time borrowers. Repeat borrowers can access higher loan amounts, reaching up to ₱30,000. This lending platform emphasizes a quick turnaround, with loan terms starting at 10 days. Notably, Online Loans Pilipinas distinguishes itself by not imposing any processing fees for first-time borrowers, providing an incentive for those exploring online lending options for the first time.

Online Loans Pilipinas

Editorial Opinion

In assessing Blend PH's lending platform, it is notable for its diverse array of loan products, offering flexibility to borrowers with varying financial needs. The platform's commitment to a transparent application process, coupled with a risk-based interest rate system, enhances accessibility for a broad spectrum of users. While the convenience of an online application and quick approval process is advantageous, potential borrowers should be mindful of the interest rates associated with certain risk categories. Blend PH's adherence to data privacy regulations and SEC registration adds a layer of security for users.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender in the Philippines

  1. Ensure that the lender is registered with the Securities and Exchange Commission (SEC) of the Philippines.

  2. Investigate if the lender is a member of recognized industry associations in the Philippines, such as the Chamber of Thrift Banks or the Philippines Finance Association.

  3. Carefully examine all terms and conditions of your loan contract. This includes understanding the repayment schedule, fees, and any penalties for late or missed payments.

  4. Payday loans can have high-interest rates. Make sure the contract clearly outlines the interest rate and total cost of the loan, including any processing fees or additional charges.

  5. Familiarize yourself with your rights regarding cancellation. In the Philippines, consumers may have the right to rescind the loan within a specific period after signing the agreement.

  6. Research the lender's reputation through customer reviews, complaints, and feedback available online.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 50 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

We carefully considered the most critical factors in selecting a lender in each category. These factors include interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

To learn more about Blend and best practices, check out some of the following resources:

Sources

FAQ

Who owns Blend?

Blend PH is the brainchild of Jay S. Bautista, who founded the platform with over 25 years of experience in business management and finance. Developed and managed by Inclusive Financial Technologies Inc., BlendPH serves as an online platform that acts as a bridge between borrowers seeking financial support for their goals and lenders looking to intelligently invest and grow their wealth.

What credit score do you need for Blend?

Blend PH utilizes a comprehensive credit assessment system process to evaluate loan applications, categorizing applicants into different risk types (A, B, or C) based on their creditworthiness.

Risk Type A is associated with the lowest risk and may require a high accumulative credit score or a positive repayment history for repeat borrowers.

Risk Type A is associated with the lowest risk and may require a high accumulative credit score or a positive repayment history for repeat borrowers.

Risk Type C, representing the highest risk, is associated with a slightly below or below-average credit score.

The exact numerical credit score requirements may not be explicitly disclosed, as Blend PH considers various factors beyond a traditional credit score in its risk assessment, including the borrower's overall financial profile.

What bank does Blend use?

Blend PH facilitates loan disbursements through various methods, including electronic fund transfers (EFT) directly to borrowers' bank accounts and disbursements through partner banks, such as NetBank and Welcome Bank.

The specific partner banks that Blend PH collaborates with may vary, and the platform may work with different banks to provide efficient and convenient loan disbursement services to its users.

The choice of partner banks may also depend on the geographical location of the borrowers and the availability of banking services in those areas. Borrowers are typically provided with information about the disbursement process and the designated bank during the loan approval and onboarding stages.

Does Blend approve everyone?

No, Blend PH does not guarantee approval for all applicants. The platform employs a comprehensive risk assessment system to evaluate loan applications, categorizing applicants into different risk types (A, B, or C) based on their creditworthiness. Each risk type corresponds to a different level of risk of default, and the approval process considers various factors, including credit history, income, and other financial details. Blend PH follows specific eligibility criteria and risk acceptance standards to ensure responsible lending practices. Applicants who meet the necessary criteria and demonstrate a lower risk of default are more likely to be approved, while those with higher assessed risks may face rejection or be offered loans with less favorable terms.

Is Blend a legitimate company?

Yes, Blend PH is a legitimate company. It is developed and managed by Inclusive Financial Technologies Inc. The platform operates as an online peer-to-peer lending platform, connecting borrowers with lenders to facilitate loans. Inclusive Financial Technologies Inc. is a registered business entity with the Securities and Exchange Commission (SEC) in the Philippines. The SEC registration number for Blend PH is CS201908028.

Company documents

TERMS AND CONDITIONS FOR BORROWERS
PRIVACY POLICY

BlendPH is developed and managed by Inclusive Financial Technologies, as an online platform to connect borrowers who need access to a financial institution to fund their goals and lenders who want to grow their wealth through intelligible investing.

Inclusive Financial Technologies Inc
Financial products
Blend
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.6
Recommended FinScore™
0
300
650
1000
50000.00 – 2000000.00 ₱
Rate
i

Effective interest rate on the product

1.50 – 3.00 %
Term
i

Loan term for the financial product

12 days – 36 days
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Blend loans calculator

Calculate loan payments in Blend. Loans calculator will allow you to calculate an approximate payment schedule for the loan

Blend calculator
Interest rates are given in accordance with the rates of the Blend in Manila as of 20.05.2024
Loan amount
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PHP
PHP
50000 ₱
2000000 ₱
Loan term
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months
days
12
36
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All Blend’s reviews by may 2024
Leave feedback
3.4
Advantages
online application + eligibility is simple. THAT’S IT
Disadvantages
this place looks like scam. u can apply for the loan but u need to be lucky to receive youe funds because this is a p2p platform. maybe the seller will send you money and maybe not. this is a casino. there are a lot of places where you will have a guaranteed approval and funds will arrie on the same day but not heer. be aware!
Complain
2.8
Advantages
well, looks like i was lucky. the support was very friendly and always helped me with my issues. its very cool that u can apply only online and dont need to go somewhere. applicaition was very fast and easy. their requirements are easy
Disadvantages
interest rate is a little bit high. in other comapnyes i saw rates smaller. approval was very fast but funds arrived only after some days. thats not cool…
Complain
2.4
Advantages
Nothing
Disadvantages
I had to wait for almost a week to receive my money and for what? To have such a rate? They didnt even call me, I had to call them every day and when they stoped answering the phone I started tecting them tru fb and guess what??? they stopped answering at fb. its just insane i had to write them at email and thank god they answered but their answer was kinda “wait” only on 6 day i r4ceved my money. horrible experience
Complain
3.6
Advantages
like that they have the online application. its really uncomfortable to go at those offices. also its great that you can make money transfers for FREEE, thats very cool, but they dont come fast but thats ok
Disadvantages
they need to do something with their rates, they are pretty high. transfers take VEEERRYY long time like a month maybe. the biggest problem is thier support. they work very slow and i had to wait for my loan for like a week. they didnt tell my why it was so long but at least they answered my messages. THANKS FOR THAT!!
Complain
3.6
Advantages
online application is very easy. you dont need to go to their office or anything, you can just go to their site and do application. they approve quickly but maney transfers are not the same thing
Disadvantages
maybe applying is ok but the rest is not. i had to wait for over 3 days to receive my money from this company. and they didnt answer my why it is so long. i called them but after some time they stoped answering phone. and they didnt call me just like they forgot about me. only on the 4 day i finally received my loan. not reccomended
Complain
Overall company rating
3.2
/ 5
5 reviews
Execution of an application
3.8
Support service
3.4
Mobile app
2.2
Service quality
3.2
Your satisfaction level
3.2
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