Frequently Asked Questions
What is Veracita Lending?
Veracita Lending is a trusted lending and credit company in the Philippines. It offers easy-to-pay loans to all small-scale entrepreneurs who are in-need of additional working capital to sustain or expand their small businesses.
How does your loan program work?
Veracita Lending offers small business loans for a term of 3 to 24 months (depending on the type of loan). We approve applications based on your salary and business’ income. You just need to fill in the application form and submit the requirements to process your request.
How much can I borrow?
Minimum loan amount for small business owners opting for a short-term business loan is PHP 5,000.00. For maximum loanable amount and other loan programs, you may call or discuss your request with our Loan Officers.
Why do business owners choose to loan from Veracita Lending?
Our clients choose us because we offer:
- Fast and easy loan processing
- Low monthly interest rates starting at 7.5% (for short-term loans)
- Loan amount of up to Php 50,000.00 for small business owners
- Quick loan approval within 2-3 days after submission of requirements
- 24-hour loan release
- Daily collection scheme
Where is your office located? How can I contact Veracita Lending?
Veracita Lending operates in several key locations in the Philippines with our head office located at SP Junction Bldg, 2nd Fl, National Hi-way, Brgy San Antonio, City of San Pedro, Laguna. For questions or concerns, you may contact us at 09438556563 and 09226051804.
What are the requirements for borrower and co-maker?
Borrowers and co-makers should submit the following: photocopy of two valid government-issued IDs, 2×2 picture, barangay clearance, and proof of billing. Borrowers should also have an existing business operating for at least one year.
How should I submit the required documents?
Applicants applying for loan should submit their requirements in person.
Is there a processing fee?
Yes. The amount of processing fee will depend on the amount of your requested loan.
How soon can I get my application results?
Our staff will process your application and get back to you within 2 to 3 business days.
How soon is the loan released?
We release loans within 24 hours after approval of loan application.
How can I get my loan?
You may claim it personally in our office or have it deposited to your bank account.
Can I loan a higher amount as a first-time borrower?
The approval of your loan request depends on your ability to pay. If the details in your requirements and supporting data can sustain the amount you ask for; then, you can get the amount you desire.
What would make you deny my loan request?
The company will evaluate your application based on your cash flow and ability to pay. Thus, it is important that you ensure a stable financial status to avoid rejection.
When does the repayment start?
Repayment will immediately start the day after the release of loan. Repayment period is 90 days or 3 months.
How do I make my daily payment?
You can pay/repay your loan to the Collection specialist assigned in your area.
How much is my daily payment?
Your daily payment will depend on the terms you choose and amount you borrowed. Rest assured, though, that your payment is on a fixed amount regardless of fluctuation.
How is the repayment scheme?
Repayment will be on fixed, daily payment terms (will depend on the length and amount of loan). The company will charge a penalty for every delayed payment.
What happens if I cannot repay my loan on time?
You have to inform us in advance if you think you cannot pay your loan on time. We can try to adjust your payment schedule for the month or recalculate your fixed daily terms. Interest rates, however, will continue to accrue on overdue amounts when you miss to pay.
What if I change my mind and no longer need the loan?
You may cancel your loan at no charge as long as you return the loan proceeds within the number of days specified in the loan agreement.
Can I still reapply after my first application is cancelled or denied?
Yes. However, please make sure you qualify for the loan you request. In addition, see to it that your requirements are complete, accurate, and up-to-date.
Can you guarantee the security and protection of my personal information?