QLO launches cash Advance Loan (Sabong News)

Quick Loans Online (QLO) just launched its latest salary loan product, QLO Cash Advance, enabling employees to loan a fraction of their monthly salary at zero interest, payable within the short-term via salary deduction. The loan ranges from P3,000 to P8,000, with a one-time processing fee of P500, to be deducted from the amount to be received by the borrower. The loan gives employees the ability to respond to urgent needs. “We produce different loan offerings to provide l clients with flexibility and the peace of mind,” according to Mary Ruth A. Oquendo, Vice President of MR Angel Credit Corp. (MRACC), QLO’s parent company. “In case of emergencies, this is a fast and easy way to get credit without the hassle of too much paperwork,” she pointed out. QLO Cash Advance makes small loans available to employees who need it. “Loans of small amounts should not have to go through tedious processes so we are very happy with this new offering,” Oquendo noted. Employees of QLO partner companies who enroll in the system can apply for the QLO Cash Advance through QLO online or through the mobile app. QLO removes the need for cumbersome paperwork and inconveniences such as lost files. Its system also allows both the companies and their employees to track their finances and loans easily. Employees can have access to the QLO Cash Advance even if they have an adverse credit record with another financial institution. QLO bases its decision on employees’ good standing in the company, and is not dependent on factors that are not work related. “Even employees with unsettled obligations outside the company may be deemed qualified by companies since the prior condition is not performance or work-related,” Oquendo clarified. QLO works with existing partner companies and also continues to grow its list of partners. QLO, a loan facility under the MRACC Credit Corp., is a new venture, launched by MFT Group of Companies. The MFT Group is a strategic partner to legacy corporations and provides shared services in Finance, Marketing, Operations, Business Development, Succession and Corporate Restructuring and Legal Services.