How to get money?
The steps to acquire an OLP loan are given below for perusal:
- Visit the OLP website and create an account or sign in to the already existing account.
- Enter your phone number for verification and get an OTP.
- Use the online calculator to choose the loan amount and period.
- Fill out the form and answer the verification call.
- One may receive the approval or rejection within one or two business days.
- It is recommended to analyze the loan agreement and sign the same carefully.
Requirements
To get a loan, the user will have to meet the following requirements:
- Provide a valid ID: TIN, passport, PRC, UMID, SSS, or driver’s license
- Provide a proof of official employment
- Be between 22-70 years old
- Be a citizen of the Philippines
- Have a valid bank or e-wallet (Gcash, Paymaya or Grabpay) account
Application details
It usually takes one or two business days to approve or reject the loan application. The reasons for rejection may vary depending on the following conditions:
- The user might not be under the appropriate age to pass for the loan.
- The user may have a low credit score with the company, or his credit history might be questionable.
- The user is unemployed or has severe job instability.
- The loan applied by the user may not be repaid with his current income.
- The user might have several pending loans.
