Fintech lending company MRACC Credit Corp. expanded its loan services to address the urgent financial needs of the employees of partner companies.
QLO Cash Advance is the latest salary loan product, of Quick Loan Online, which issues employees a loan of a fraction of their monthly salary at 0-percent interest rate and payable within a short-term period.
“We continue to produce different loan offerings to provide our clients with flexibility and the peace of mind that in case of emergency, there is a fast and easy way to get credit without the hassle of too much paperwork,” said MRACC vice president Mary Ruth Oquendo.
“QLO Cash Advance is our special effort to make 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,” she said.
The QLO Cash Advance amount ranges from P3,000 to P8,000. The product has 0-percent interest, and only has a one-time processing fee of low as P500, which will be deducted from the proceeds to be received by the borrower. The loan is settled conveniently through salary deduction.