About lender
Vidalia is a corporation that collaborates with many experienced investors, has substantial financial sector knowledge, and works in accordance with the Securities and Exchange Commission. The company is dedicated to making lending and investment operations simple and accessible to all consumers.
Vidalia Lending first entered the Philippine finance industry in 2008. Vidalia Lending has evolved into a brand that has provided millions of loans to Filipinos in need, thanks to the proven industry experience of the individuals who back it up in the local financial business. Borrowers can get loans from ₱5,000 up to ₱500,000.
The firm is of Philippine origin and has operated with millions of loans since its beginning. Traditional and innovative approaches are used here, and the loan system is constantly updated and streamlined to give clients comfortable working circumstances. The business offers the option to not only obtain a loan but also to invest.
Vidalia Lending is a Securities and Exchange Commission-registered company with SEC Registration No. CS200813771 and Certificate of Authority No. 279, both granted in October 2008. Vidalia Lending's registered office is at 6/F Aster Business Center Mandala Park, 312 Shaw Boulevard, Mandaluyong City, Metro Manila.
Pros and Cons
Before applying for a loan from any company, you should carefully consider its advantages and disadvantages. This will allow you to make a sensible decision before opting for a loan
Pros
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The financial institution provides a comparably reduced interest rate.
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Some loans can be applied for online.
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The institution facilitates quick application procedures.
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The approval process is generally finished within 48 hours.
Cons
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The loan through Vidalia Lending Corp is available only in Metro Manila.
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Borrowers must have a bank account to make loan payments using PDCs.
Loan conditions
To be eligible for a loan through Vidalia Lending Corp., candidates must be Filipinos aged 21 to 40 living in Metro Manila. The candidate must earn at least ₱15,000.00 per month as a permanent employee or be an entrepreneur with at least one year of retail experience. At the time of loan application, applicants must produce one valid ID (passport, driver's license, SSS), one evidence of billing (electricity, water, landline), and the most recent one-month payslip or proof of income. For business loans, a copy of the DTI permit/SEC registration with GIS, a copy of the most recent business/permit, Mayor's the most recent ITR with audited financial statement, three trade references or a list of suppliers/clients, and a utility bill (under the client's current home address) are all necessary. For each processed loan, a 7% processing charge is removed from the net lent amount. Furthermore, for late payments, the whole loan amount outstanding will be taxed at 0.5% each day plus a ₱500 late payment fee.
Funding a loan
To receive a loan from Vidalia Lending Corp, go to the website, click on Apply now, choose the loan type you want to apply for, choose the loan amount and period. Fill out the form, agree to the loan conditions, and wait for the funds to be transferred to the selected bank account. Vidalia Lending provides five distinct types of loans to meet the diverse needs of Filipinos for both personal and business purposes: lite loan, personal loan, salary loan, business loan, and small business loan.
Lite loans are intended for consumers who want immediate funds to pay off past-due debts or for other personal reasons. Lite loan applications are entirely online.
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Daily/monthly loan amount - ₱2,000 to ₱15,000
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The rate is 0.5% every day.
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185% annual percentage rate
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Loan terms: 1 month, 1.5 months, and 2 months.
Salary loans are perfect for working people who demand quick cash to cover bills and other expenses. There is no need for collateral or a guarantor for this loan.
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Daily/monthly loan amount - ₱20,000 to ₱50,000
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The monthly interest rate of 6%
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Annual Percentage Rate - 80.60%
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Loan term: 2 to 12 months
Personal loans can either be taken for debt consolidation, payment of an overdue credit card bill, university fees, or home upgrades.
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Daily/monthly loan amount - ₱15,000 to ₱100,000
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The monthly interest rate of 6%
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Annual percentage rate - 80.60%
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Loan term: 2 to 12 months
Small business loans are intended for cash flow management, controlling the business's daily cash flow, and meeting urgent demands. Non-collateral loans are available to entrepreneurs.
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Daily/monthly loan amount - ₱15,000 to ₱100,000
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The monthly interest rate of 5%
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Annual percentage rate - 80.60%
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Loan term: 2 to 12 months
