Red flags to watch out for when borrowing money


Adults know how trust can be a hard-earned value in many transactions. Money deals, among many others, are made or broken depending on the trust placed in a deal or negotiation. It is often the lending industry that earns a reputation for being profit-seeking and self-serving capitalists, which is not always necessarily true: one just needs to learn what to watch out for.

A great factor that comes into play when looking for trusted partners is to ensure their Corporate Social Responsibility (CSR) efforts, so that they not only think about improving their condition and stature, but also that of the entire community.

In the money lending business, for example, WeFund Lending Corp. has been providing charitable services to those in need, to express the company’s mission to seek improvement and progress in the country. Recently, the company was able to supply the necessary donations to hospitals and aid and emergency stations. Taking inspiration from its parent company, Finvolution Group, one of the leading fintech platforms in China, WeFund helps the Filipino community by keeping frontline workers safely equipped to fight the crisis they face today, just as it has. made FINV in China.

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“Actually, the donation was made by one of the founders of our parent company, Finvolution Group (formerly known as PPDai), and our global business director, Ming Gu. In China, several months ago, people and medical systems also encountered a virus problem, and Finvolution Group made donations to hospitals. Our own founder personally delivers the masks and protective clothing. At the same time, we support small business owners in China to overcome short-term difficulties by providing interest-free loans,” said Elsa Song, Country Manager of WeFund Lending Corporation.

Donations and assistance were extended to the following beneficiaries:

1. Taguig Police Station
2. ACE Medical Center (Pateros)
3.Makati Hospital
4. Cardinal Santos Medical Center
5. Parañaque Hospital
6. Muntinlupa Hospital
7. Dr. Paulino J García Memorial Medical and Research Center
8. Diosdado Macapagal Memorial Hospital
9. Perpetual Help
10. ASIAN Hospital
11. Rizal Memorial Quarantine Center

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Rather, there are three very common warning signs to watch out for when planning to borrow some money. These are the following:

advance rates

In the immediate aftermath, be on the lookout for lenders who require advance payments before handing over cash. Most of these scenarios happen through phone offers, which is pretty fishy to begin with. Never forget that the general rule in the moneylending process is that no fees are due until the loan money is secured.

No websites, no reviews

As the digital world enters the ‘new normal’, it is highly unlikely that any legitimate institution or organization would not set up their own website containing all the information a potential customer might need. Also, if a lender does not have search reviews for additional verification, it may be better to search for other lenders.

unauthorized business

In the event that lenders do not have any kind of license, affiliation with trustworthy and professional firms, or proof of registration with any government agency to show, follow protocol and label such suspicious behavior as a scam. Call it hypersensitivity if you must, but vigilance is key to finding partners you can trust, especially when it comes to your hard-earned money.

Once again, trust is not a free good. It is earned with time, effort and commitment. When it comes to money lending in the Philippines, the digital landscape shows promising potential in offering clickable microfinance solutions for Filipinos in immediate need for emergency expenses or business start-ups.

JuanHand, a digital money lending service of WeFund Lending Corp., has partnered with vendors that can serve ads on lending marketplaces, the Facebook channel, Google channels, and mobile channels. Motivated to fulfill the motto, “We lend our hand to save another Juan”, JuanHand is about security and credibility, along with convenience. With just a few steps, Filipinos can experience the benefits of a high loan amount, fast disbursement, and a seamless process.

Over the past few months, WeFund’s JuanHand service has been offering loans to help people recover from short-term money shortages by lowering the interest rate on their own initiative. What is also worth noting is that the digital product has not experienced any problems since its entry into the market. Also, it is recognized as one of the top ranking apps on both Google Play and iOS.

Click below to get JuanHand for Google Play or iOS.

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When people decide to put their trust in someone, the receiving end must be obligated to live up to that trust and play their role well. Just as JuanHand continues his trademark of lending his hand to save another Juan, the delicate trust provided by Filipinos will surely be in safe hands.

For more information about the product, follow @JuanHandOfficial on Facebook@JuanHandPH in Instagram Y Twitteror visit their website at www.juanhand.com.

NOTE: BrandNews articles are promotional features from our sponsors and not news articles from our editorial team.

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