Is it legit?

Asesor Credilemon

27/02/2025 11:12

Hello, Lindsay

Here at Credilemon, we strive to publish information about legitimate lenders that will grant loans to customers and operate legally in the Philippines. The loans you can find on our website are safe to request. However, we recommend that you exercise caution and read everything carefully before requesting a loan, especially the fine print. 

If you want to make sure a lender is legit, check to see if they’re registered with the SEC if they’re a financial institution or with the Bangko Sentral if they’re a bank.

Now, these are some red flags that should alert you of the loan being a scam:

• They don’t do a credit check and promise a 100% approval rate

• They request an upfront fee to give you the money

• The interest rate is too good to be true

• The website pushes you to act quickly and uses phrases like “offer only available today”.

• They don’t have valid contact information or have an unprofessional email address listed (@gmail, instead of @companyname).

• There’s no loan contract, or the terms are too vague.

Take into consideration that some sites published here are not direct lenders but act as intermediaries to connect you with a lender. Since they don’t lend money, they’re unlikely to be registered in SEC, but using their services shouldn’t be a risk, as they are normally free of charge to you. 

We hope this helps.

Best,

Credilemon team