Saving money is difficult for most people because monthly wages are often just enough to cover everyday expenses and bills. Even if individuals can set aside a small amount of money, it may still take some time to earn enough for large purchases, whether essential or not. In cases like these, financing options, such as loans, may be the best recourse to obtain the necessary funds.
What Is a Loan?
A loan is a sum of money that is lent to another party. The full amount of the debt must be repaid in the future, including any interest charged by the lender. Recipients may also be asked to provide collateral before any funds are exchanged.
Loans may be given to individuals, companies, and even governments to help them cover planned and unplanned costs. Those in need of additional funds may acquire loans from banks, corporations, and other financial institutions.
What Are Loans Used For?
One of the common reasons consumers apply for loans is to cover large purchases and general living expenses. Loans are also common for individuals who may want to start their own businesses or grow their brands. To meet the financial needs of their customers, most institutions offer a wide variety of loan programs.
Types of Loans
All loans are categorized as either secured or unsecured. The former refers to loans that require collateral, while the latter does not. Since unsecured loans do not require collateral, they tend to have higher interest rates because of the risks.
This is a highly versatile type of loan because it can cover the costs of medical emergencies, vacations, college tuitions, relocations, and much more. It is also common for consumers to get personal loans in the Philippines to consolidate their debts.
Salary or Payday Loans
These loans are short-term financing options that offer small amounts of money, which are typically due by the borrower’s next payday. While these loans may be helpful for emergencies, they could potentially lead consumers deeper into debt because of high interest rates and additional fees.
Individuals who live in areas under a state of calamity can take advantage of these loan programs to ease the financial burden caused by disasters. These types of loans are typically offered by government agencies.
Consumers can get auto loans in the Philippines to purchase new or used vehicles. These financing options are usually offered by car dealerships, banks, and other lending institutions. For these types of loans, the vehicle being bought is also used as collateral if the borrower misses payments.
People planning to purchase houses, condo units, or empty lots can benefit significantly from a home loan. This financing option makes home-buying more accessible to average consumers because it provides them with the funds they need to buy or build a place to live. Some home loans in the Philippines can also be used for property renovations or additions.
Gadget or Appliance Loans
These types of loans are specifically used to purchase electronics and appliances, including computers, mobile devices, refrigerators, and ovens. Gadget or appliance loans usually have shorter payment terms that range from 6 to 24 months.
Every transaction made using a credit card is essentially like taking out a small personal loan that must be repaid next month. If the balance is not paid in full, the credit card company may charge interest and additional fees.
Unlike traditional loan programs, credit card plans often come with various benefits and rewards for the purchases made. Some credit card companies also promote zero-interest periods as an incentive for consumers to apply for their plans.
Small business owners often apply for loans to keep their establishments up and running. There are a variety of business loans that provide these owners with the funds needed to pay for daily expenses, rent, equipment, and more. These types of loans are also typically used to start new businesses or expand existing ones.
What Are the Advantages and Disadvantages of Getting a Loan?
Loans give consumers quick access to cash that they may need for immediate concerns. These financial products also allow individuals to make nonessential transactions that could help increase their quality of life.
However, applying for loan programs can be a complicated process with a lot of paperwork and requirements. High interest rates could also potentially increase the borrower’s debt. Aside from these, loans are not easily accessible to low-income individuals because they do not meet qualifications set by lenders. This inaccessibility is what led to the rise of microfinancing options, such as microloans.
What Is a Microloan?
Much like traditional loans, microloans are sums of money that must be repaid to the lender. The main difference of this financial product is the amount of funds given to the borrower. These loans are typically smaller because they are meant to help low-income or disadvantaged individuals with their financial needs.
Microloans also typically have simpler application processes and more flexible requirements compared to traditional loans. These qualities make microloans much more accessible and convenient for those in need.
If you’re looking for microloans in the Philippines, turn to Cebuana Lhuillier! We offer a variety of programs to assist you with your financial needs. Whether you need money to pay for a hospital bill or a new phone, you can rely on us to give you the funding you require.
How Does a Microloan Work?
These microfinancing options work just like traditional loans. However, they are usually provided by microlending companies instead of banks. Traditional lenders, such as banks, often focus on making a profit, and microloans are not considered profitable because of the various risks for the lender. On the other hand, microlenders aim to develop the informal sector by giving low-income individuals and households access to additional funds.
What Are the Differences Between Microloans and Traditional Loans?
Amount of Funds
Microloan programs typically offer smaller amounts of money to borrowers, which makes them excellent solutions for urgent payments, such as hospital bills and vehicle repair fees. In the Philippines, Cebuana Lhuillier offers microloans for as low as 5,000 PHP.
Interest rates for microloans tend to be higher than traditional bank loans because of the risks they pose for lenders. However, since the loaned amounts for these programs are smaller, they are easier to pay back. This means that an individual pays less overall interest if the microloan is repaid early.
The interest rates for Cebuana Lhuillier microloans range from 4% to 10% per month.
Microloans typically have shorter repayment terms because lenders only offer a small amount of money. At Cebuana Lhuillier, borrowers are expected to repay the loaned amount within three to four months, depending on the loan they get.
Microloans in the Philippines
The microfinancing industry in the Philippines has been growing steadily over the years because of its accessibility to minimum wage earners. The Bangko Sentral ng Pilipinas (BSP) reported a 32% increase in microloans from 2017 to 2019. Based on this data, it is clear that Filipinos are looking for more affordable alternatives to traditional financial products.
As part of the government’s advocacy for financial inclusion in the country, the BSP has implemented several regulations to ensure that microfinancing institutions continue to provide affordable options for low-income households and individuals.
Since microloans are targeted towards people in the informal sector, application processes are often simple and easy to understand. Individuals interested in applying for loans typically only need a valid government ID and proof of financial stability, such as payslips, utility bills, or statements from current loan accounts.
These microloan programs also tend to have flexible repayment terms to give recipients adequate time to pay back the money they borrowed.
Who Should Get Microloans?
Traditional lenders are often not inclined to accept loan applications from low-income individuals because of the lack of information on their credit history and ability to provide collateral. Because of this, microloan programs serve as the best option for people who do not qualify for traditional bank loans. Microloans allow those in underserved communities to gain immediate access to additional funds that can help pay for their urgent needs.
Aspiring entrepreneurs who want to jump-start their businesses also benefit greatly from microloans because it allows them to acquire the capital they need. Additionally, microloan programs provide small business owners with money that can help further the growth and development of their companies.
What Are the Advantages of Getting a Microloan?
Since microloans are often used by people who need emergency funds, microlending companies tend to approve applications within a short period of time. Cebuana Lhuillier has an easy application process, so you don’t have to worry about wasting valuable time in long lines.
Because microloan processes are simplified, complications are less likely to happen. These financial products are specifically designed to make repayments easier for borrowers so that they do not fall into debt.
Microlending companies typically do not need a lot of requirements for loan applications. Potential borrowers do not need credit histories or high credit scores to be able to acquire the funds they need. At Cebuana Lhuillier, individuals applying for microloans can simply provide valid identification and proof of financial stability. However, those applying for business loans need to present additional legal documents, such as business licenses and registrations.
According to Plan International Canada, families who receive microfinancing are “less likely to pull their children out of school for economic reasons.” This means that microloans can help households improve their quality of life and potentially lift themselves out of poverty.
Microloans also allow entrepreneurs to establish their businesses and keep them operational. The establishments they put up can also create job opportunities for other individuals in their local communities.
Essential Things to Remember Before Applying for a Microloan
Taking out a microloan is a decision that should not be taken lightly. Before you even consider your options, you should determine if a loan is really necessary for your situation. If there are other solutions to your financial concerns, you shouldn’t disregard them just because a microloan seems more convenient.
Research Your Options
The most convenient microloan programs are not necessarily the best options available to you. It is important to look at offerings from various microfinancing institutions and traditional lenders to see how each financial product can benefit you. Even if you think you won’t qualify for a specific program, it could still be worth applying to.
Compare Your Preferred Microloan Programs
Once you’ve narrowed down your search, compare the terms of each program. Take note of how the loan amounts, interest rates, and repayment periods can affect your ability to pay back the loan. You should also try to find out if lenders charge any hidden fees. After studying the specifics of each microloan, choose the one that best meets your needs.
When you’ve finally decided which lender to go to, prepare the necessary documents before filing your application. The most common requirements include government IDs, financial documents, and cash flow statements. In case the lender requires collateral, you should also prepare the necessary assets.
Where To Get Microloans in the Philippines
No matter where you are in the Philippines, you can rely on Cebuana Lhuillier to provide you with excellent microloan programs. We have around 2,500 branches nationwide, which allows us to provide highly reliable financial services to clients throughout the country.
All of our microloan programs have simple application processes and minimal requirements so that you can quickly acquire all the funds you need. Our programs also have flexible terms to make them more accessible to you.
To make the application process even more convenient, you can apply for any of our loans through our website. We also have a five-point application for the disbursement process that ensures all our services are delivered on time.
What Kinds of Loans Does Cebuana Lhuillier Offer?
Under our microloan programs, we provide Lucky Loans and Happy Loans. The former is offered to registered entities and small to medium enterprises to help them achieve their business goals. On the other hand, Happy Loans are personal loans in the Philippines that allow individuals to get money for their necessary expenses. We also offer Gadgets Loans for people who want to get funds to pay for various electronics or appliances.
Cebuana Lhuillier also offers exceptional home loans and auto loans in the Philippines. Whether you want to buy a new house or car, renovate your existing property, or have your vehicle repaired, we have a loan program that meets your needs.
Aside from these programs, we offer Agricultural Loans for small agricultural businesses. These loans are perfect for farmers who want to increase their resources and develop their professional expertise.
Employee Salary Loans are also exclusively available for all regular employees of the PJ Lhuillier Group of Companies.
With a wide range of innovative microfinancing options available in the Philippines, you no longer have to worry about not having access to essential financial services. Taking advantage of these products can help you take another step toward achieving financial freedom.
You can apply for a microloan if you need emergency cash or want to invest in ways to boost your quality of life. If you’re an aspiring entrepreneur, you can also finally get the money you need to start your business and improve your financial situation. Whatever your reason for getting a microloan, you can rely on Cebuana Lhuillier to make the process as simple as possible.
We have decades of experience in the industry, so you can trust that we have the knowledge and skills to help you find the right microloan program for your needs. Our team will work closely with you to give you a better understanding of our financial products and assist you in determining the best one.
Feel free to get in touch with us today to learn more about our loans and microloans. You may also reach out to us for information about our other financial services. We will be more than happy to address any of your questions or concerns. Our team looks forward to serving you!
Our Quick Cash Loans provide ways for your immediate financial needs. Through the years, M Lhuillier has been helping Filipino families achieve their dreams and fulfill immediate financial needs through Quick Cash Loans.Does Cebuana Lhuillier accept loan? ›
Cebuana Lhuillier Loans
Cebuana Lhuillier has a network of over 2,200 branches nationwide and also accepts quick cash loan Cebuana applications online. You can get a Cebuana gadget loan for up to 1 month and buy a tablet or mobile phone. You can also get a cash loan for anything from 5000 to 15000 pesos.
At Cebuana Lhuillier, individuals applying for microloans can simply provide valid identification and proof of financial stability. However, those applying for business loans need to present additional legal documents, such as business licenses and registrations.How does a microloan work? ›
A microloan provides a lump sum that the borrower pays back with interest via regular payments over a set period of time; the main difference is that the loan amount is usually smaller. Microloans are often paid back over three to six years, though the term can vary depending on the lender.Can I loan in Palawan pawnshop? ›
Palawan Pawnshop offers loans with the lowest interest rates and with the most favorable terms: high pawn appraisal. low interest rate. service charge 1%.What is urgent cash loan? ›
An instant cash loan is an unsecured mini loan where a borrower can avail small cash loans from 10,000 up to 2 lakhs. This loan is useful to meet emergency expenses such as a sudden medical condition, unplanned travel, home repair, etc. Instant loans are safe and ideal to manage urgent cash needs.Where can I borrow money instantly in the Philippines? ›
- Citi Personal Loan.
- CIMB Bank Personal Loan.
- RFC Loan.
- Tala Online Cash Loan.
- ACOM Revomax Personal Loan.
- SB Finance Personal Loan.
- Metrobank Personal Loan.
- BPI Personal Loan.
Here's how pawn shop loans work: You bring in an item as collateral, and the pawnbroker will determine the value of the item, give you a loan based on its cost, and then hang on to your collateral until you've paid off the loan. In a nutshell, it is one way to get a personal loan without a credit check.Can I get a loan in cash? ›
How do you get a cash loan? You can apply for a cash loan from an online lender or traditional brick-and-mortar bank or credit union. Some lenders will check your credit. With online lenders, applications and approval decisions tend to be quicker and involve less paperwork.How do I know I qualify for a loan? ›
- Credit Score and History. An applicant's credit score is one of the most important factors a lender considers when evaluating a loan application. ...
- Income. ...
- Debt-to-income Ratio. ...
- Collateral. ...
- Origination Fee.
The minimum salary fixed by most lenders is Rs. 20,000 while a few private-sector lenders may give you a personal loan even with a salary of Rs. 15,000.What is the minimum of a personal loan? ›
For the most personal loan lenders, $1,000-$5,000 is the lowest amount you can borrow. But the minimum loan amount can vary substantially from one lender to another.How much are micro loans usually? ›
Under this program, SBA makes funds available to nonprofit community based lenders (Microlender Intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $50,000. The average loan size is about $13,000.Are microloans good? ›
They found that while microloans did improve small business ownership and investment, they did not cause long-term increases in income.What are the benefits of microloans? ›
- Despite their small size, microloans can significantly impact entrepreneurs and their businesses.
- Most microloan products often require little to no collater.
- This variety allows borrowers to shop around for the best deal on a loan, and it also provides competition that can help find low-interest rates.
A pawn loan is less of a risk for the pawnbroker, because they aren't as concerned about reselling the piece. If you have a valuable you don't mind parting with and you don't want to have to worry about paying back a loan, then it may be easier for you to just sell. You will have the extra cash you need on the spot.How much can you borrow from a pawn shop? ›
You'll typically walk away with around 25% to 60% of the pawned item's value, with the average loan being $75 to $100. If you pay off the loan in a certain amount of time, you can get your item back.Can I loan my phone to a pawn shop? ›
If you decide to go directly to a pawn shop, the process is a little easier. Bring your phone in the original box if you have it to your local pawnshop. There, an appraiser will look at your phone and make you an offer — easy-peasy! There is one really great advantage to pawnshops, and it's right in the name.How can I get a loan in 5 minutes? ›
Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office.How can I get money immediately? ›
- Sell spare electronics. ...
- Sell your gift cards. ...
- Pawn something. ...
- Work today for pay today. ...
- Seek community loans and assistance. ...
- Ask for forbearance on bills. ...
- Request a payroll advance. ...
- Take a loan from your retirement account.
Banks may approve you for a loan and give you the money within the same day, but the entire process of applying and getting funding could take several business days. Some credit unions offer same-day (or very fast) options. Alliant Credit Union, for example, may offer funding the same day you apply online.Can I borrow money from GCash? ›
GLoan is GCash's fast and easy cash loan solution. where you can loan up to Php 125,000 instantly. You can use your loan to pay bills, go shopping with over 200,000 GCash partner merchants, and you can also cash out your loan to your chosen bank account or cash out channels using GCash's Send Money feature.What is the easiest loan to get approved for? ›
The easiest loans to get approved for would probably be payday loans, car title loans, pawnshop loans, and personal installment loans. These are all short-term cash solutions for bad credit borrowers in need.Where can I borrow 30k? ›
- Oneclickmoney. (4,8/5) 25 voted. for 0.03% per day. ...
- Finbro. (4.7/5) 25 voted. for 0.16 per day. ...
- UnaCash. (5/5) 85 voted. ...
- Best offer! (4.5/5) 31 voted. ...
- Digido. (4.88/5) 246 voted. ...
- Robocash. (4,83/5) 3851 voted. ...
- Online Loans Pilipinas. (4.61/5) 499 voted. ...
- (4,42/5) 243 voted. for 0.54% per day.
Another disadvantage is that if you don't repay your loan on time, the pawn shop can sell your item. And you won't get reimbursed if your item is sold for more than your loan amount. Some pawn shops also charge additional fees to pay for things like storage, insurance or renewing the loan for a new term.Are pawn loans safe? ›
The pros and cons of pawnshop loans
There's no legal requirement to repay, so your credit score won't suffer if you don't repay the loan, nor will you be harassed by debt collectors or sued. The only consequence, if you don't repay, is losing your item.
High-demand items typically include:
- Musical instruments.
- Current electronics.
If I don't have a job, can I still get a loan? Yes. Many personal loan lenders are willing to consider other sources of income. If you don't have income, you may be able to qualify for a loan based on your assets.Can I get loan without bank account? ›
Individuals who wish to get loan without bank statement and/or salary slips can submit an alternate source of income to the lender and establish their ability to pay back the availed credit.How much can you borrow from cash money? ›
Cash Money installment loans range from $500 to $10,000. Loan approval and loan amounts are based on a number of factors, including your income amount and credit rating.
The most common reasons for rejection include a low credit score or bad credit history, a high debt-to-income ratio, unstable employment history, too low of income for the desired loan amount, or missing important information or paperwork within your application.What should I know before approving a loan? ›
CIBIL Score and Report: It is one of the most important factor that affects your loan approval. A good credit score and report is a positive indicator of your credit health. 2. Employment Status: Apart from a good credit history, lenders also check for your steady income and employment status.Which bank is giving loan easily? ›
HDFC Bank customers can get Personal Loans with minimal or no documentation. In fact, if they are pre- approved for a Personal Loan, they can easily apply for it. Lower interest rates: Interest rates on Personal Loans are lower than other sources.Can I get loan on 3000 salary? ›
The DIB Al Islami Ijarah for expatriates provides a maximum loan amount of up to AED 1,000,000 against a minimum salary of AED 3000.How do I get loan without salary? ›
- Provide proof of an alternate source of income.
- Maintain a good CIBIL score.
- Offer collateral as security.
- Apply for the loan with a co-applicant.
- Maintain a good rapport with the lender.
- What are the documents required to get a personal loan without salary slip?
So, if your salary is less than Rs. 12,000, assure the lender that you have other sources of income to repay your personal loan on time. However, ensure that you meet the rest of the eligibility parameters and submit the basic documents required to increase your chances of being approved for a personal loan.Whats the smallest bank loan you can get? ›
The smallest loan a bank will give is $100. For example, current Bank of America customers with a qualifying checking account can borrow as little as $100, for a flat $5 fee, with the bank's Balance Assist™ program, then repay the loan in equal installments over 90 days. Most bank loans start at $1,000 - $3,500.What is a small loan amount? ›
The small loan gets its name from the most obvious of reasons – its size. In general, a loan that provides $3,000 or less could be called a small loan, even if it falls into another category as well.What is the maximum loan amount? ›
A maximum loan amount describes the total sum that one is authorized to borrow on a line of credit, credit card, personal loan, or mortgage. In determining an applicant's maximum loan amount, lenders consider debt-to-income ratio, credit score, credit history, and financial profile.How do you qualify for microloan? ›
- For-profit small business. To qualify for an SBA Microloan, you should have a for-profit small business. ...
- Average credit. Most microlenders don't require excellent credit. ...
- Ability to repay the loan. ...
- Collateral and personal guarantee. ...
- Good character.
What is a microloan? The microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.What are disadvantages of micro loans? ›
There are some cons regarding microcredit, including too much pressure to repay loans, a large suicide rate among borrowers, and severe debt levels. A contributing factor to the disadvantages is the high interest rates on some microcredit loans – rates can be 30% or even higher.Are microloans risky? ›
The downside to microloans is they may be riskier depending on the borrower's creditworthiness. Microloans are also subject to the lending platform's policies, and investors often must pay higher administrative fees compared to the fees for other debt or bond investments.Do microloans have interest? ›
Rates vary, but typically range from 6% to 9%. The average interest rate charged on SBA microloans in fiscal year 2020 was 6.5%. Up to 3% of the loan amount (up to 2% for loans with terms of less than one year) plus closing costs determined by the lender.What makes micro finance fail? ›
The growing trend of multiple borrowing by clients and inefficient risk management are the most significant factors that stress the microfinance industry in India. The microfinance sector gives loans without collateral, which increases the risk of bad debts.
Accessibility is a major benefit of microfinancing. Investors can support small businesses and new startups in their own country and elsewhere in the world. For business owners, microloans are a way to access funds even with no credit history or a bad credit score.What is the impact of microloans on the quality of life? ›
Most notably, the research found that clients report a significant improvement in their standard of living. Some 88% of borrowers agree their quality of life improved and a sizeable number—34%—say their quality of life is “very much improved.” And 73% report experiencing increased household income.› resource-center › finance › w... ›
What are Micro Loans and How They Work
What Is a Microloan?
What is a Microloan? Microlenders in 2022
To apply for an ML Quick Cash Loan, simply visit your nearest M Lhuillier branch and fill out the form provided. Present a valid I.D. and hand over your collateral item to the personnel for appraisal. Then get your cash and your loan ticket.Where can I get money from M Lhuillier? ›
- Asia United Bank.
- Banco de Oro.
- BDO Network Bank.
- BPI Family.
- Bank of Commerce.
- Chinabank Savings.
You may now receive your claiming details from M Lhuillier within 10 minutes! Once you create your cash out, you will be able to see your claiming details on the app. It will also be provided to you via email and your recipient will receive it via SMS.Which is better cebuana or M Lhuillier? ›
Cebuana Lhuillier Pawnshop scored higher in 5 areas: Overall Rating, Work-life balance, Senior Management, Compensation & Benefits and Career Opportunities. M. Lhuillier Philippines employees rated their Recommend to a friend 26% higher than Cebuana Lhuillier Pawnshop employees rated theirs. M.Where can I borrow money instantly in the Philippines? ›
- Citi Personal Loan.
- CIMB Bank Personal Loan.
- RFC Loan.
- Tala Online Cash Loan.
- ACOM Revomax Personal Loan.
- SB Finance Personal Loan.
- Metrobank Personal Loan.
- BPI Personal Loan.
How to cash out Tala loan? Once you're approved for a Tala loan, you can have the cash deposited to your bank account, transferred to your Coins.ph wallet, or claimed at the nearest remittance center (Cebuana Lhuillier, M Lhuillier, or Palawan Express Pera Padala).What is ML PLUS loan? ›
Another benefit MoneyLion offers is access to low-interest loans. MoneyLion Plus uses the behavioral data and analytics from your use of the MoneyLion app in order to approve you for a low-interest loan. You can borrow up to $500 at APRs as low as 5.99%.How much is the salary of M Lhuillier teller? ›
Some related job titles are Cashier salaries with median pay of ₱196,290, Customer Service salaries with median pay of ₱222,002, Part Time Teller salaries with median pay of ₱18,000, Bank Teller salaries with median pay of ₱247,000.What is valid ID for M Lhuillier? ›
4.4 Senior Citizen ID; Social Security System (SSS) ID; Tax Identification Number (TIN) ID; Unified Multi-Purpose ID; or Voter's ID. Note: All Valid IDs must be ORIGINAL, PHOTO-BEARING, UNEXPIRED and SIGNED.How many days can I claim money in M Lhuillier? ›
The receiver has 90 days to pick up the transfer in cash.Can I cash out GCash in M Lhuillier? ›
You can cash out at any BancNet and/or MasterCard affiliated ATM or at any GCash Partner Outlet. Simply look for the logo of either Mastercard or BancNet on the ATM. You can also cash out from any of the following GCash Partner outlets: Cebuana Lhuillier.How do I claim GCash Padala? ›
If you have a registered GCash account, the funds will automatically be added to your balance. If not, once you register for a GCash account the funds will automatically be added and the fees automatically refunded upon registration.
We accept Android and Apple phones at the best price. Click the photo for instructions. Do you accept laptop? M Lhuillier Financial Services, Inc.Which pawnshop has the highest appraisal Philippines? ›
Villarica offers one of the highest pawnshop appraisal rates in the Philippines for 2022. There's no service charge, and you can get a loan approval in five minutes. Aside from pawning services, you can go to any Villarica branch to send and receive money via Cash Padala, pay your bills, buy load, and withdraw money.How much can you pawn 18k gold in the Philippines? ›
A gram of 18-karat gold can now be pawned for P2,100, up from the old rate of P1,800. Fourteen-karat jewelry with less gold content allows an owner to borrow P1,600 per gram, from the usual P1,400.What is the biggest pawnshop in the Philippines? ›
1. M Lhuillier. M Lhuillier has one of the most extensive pawnshop networks in the Philippines. It is pretty much the go-to for most Filipinos looking to get cash by pawning their valuables.