P2P Funding as a helping hand for Filipinos during COVID-19
How Blend.ph lenders and investors help fellow Filipinos this pandemic
The impact of the COVID-19 pandemic is still felt in our country half a year after it first hit us. Come to think of it, this event made 2020 become the year where life was redefined – and for many, an opportunity to begin again.
Here at Blend.ph, we acknowledge the challenges thrown upon us in this pandemic. Even we have adapted to the new standard of operations for our teams, as we are sure most startups and companies did. But we remain standing despite the trials, and we owe a lot of it to our borrowers and investors.
In our investment programs, the funds provided by our lenders become a venue for our borrowers to get the money that they need – for whatever reason and type of loan they have applied for. On its simplest definition, our Peer-to-Peer Lending model provides help to our countrymen, most especially in these trying times.
How can we say that? In this article, you’ll find out.
The demand for money during the pandemic
As we are still under community quarantine, albeit so much less constricted than before, the priority on health took a toll on the financial needs of the community. And that’s the same reflection for each family. Even the government is at a loss on finding ways in providing support to everyone in need, from the very poor to the struggling middle class.
If you ask from financial experts, what they recommend is applying for a loan or microfinancing to sustain the current needs – especially for people who lost jobs and need to start anew. As many businesses become paralyzed and industries are no longer feasible, the need for credit lines for thousands of Filipinos is needed to sustain the economy and attempt to bring it back to life.
Take a look at this short quote from James Aristotle Alip, founder of Center for Agriculture & Rural Development Mutually Reinforcing Institutions (CARD MRI). He says, “[We] are looking for support from organizations and institutions that can provide additional credit facilities and funding to support its cause in helping people improve their lives while facing this global health emergency. We are also convening partners and industry leaders to discuss this pressing issue to mitigate the effect of the pandemic in the industry.”
Why Blend.ph is the perfect solution for this demand
If you’re interested in acquiring funds for your business, the traditional way to go about it is to apply for a loan through a bank. However, it is important to note that with banking, it can be difficult to get loan approval because they have higher standards. You also have to be ready to submit a lot of documents and be patient throughout the process – sometimes, it even takes a few months.
Here’s where you will appreciate the beauty of P2P lending and Blend.ph. When a borrower signs up with us, they can enjoy the following benefits:
- The application process is quick and easy. Plus, it is fully online and you don’t have to leave your home! After filling out and completing your application, results can be received within 24 to 48 hours.
- The disbursement of funds also takes faster in comparison to traditional lending – perfect for emergency expenses.
- With us, you have the opportunity to get lower rates compared to other financial institutions.
- Though there are investors funding your loan, the Blend.ph platform makes it easier for you to access everything and you also receive support.
- In comparison to the traditional lenders, P2P platforms generally have less credit requirements.
How Blend.ph investors help fellow Filipinos
- At the time of the pandemic when expenses are sudden, the funding from investors gives Pinoys in immediate need the relief that they require. For someone who fell through a temporary shortfall in cash, the processing speed of Blend.ph can help them address their financial problem right away.
- Compared to the traditional lending system, our funding program requires significantly lesser charges for borrowers – giving them a better financial option at a time when every peso is so much more precious.
- Our investors help sustain the economy. Generally, our lenders will use this spending money and consumer spending aids in keeping the economy afloat, especially if they transact with SMEs. That alone is a big help for the country’s economic performance.
- Our investors help aspiring Filipino entrepreneurs get the jumpstart that they need to bring their dreams into fruition. When our borrowers apply for our ph franchise loan, our investors support them in building up their capital.
- With our different loan options, our investors also help provides for people who are in need of debt consolidation. This will help them escape the nightmare of dealing with various interest rates and deadlines. With this, we aid our fellowmen in their road towards better financial management.
- In today’s pandemic, we cannot deny that thousands of people are in need of extra funds for medical expenses. Our loans can help a borrower settle these unexpected medical expenses as they recover and get back on their feet.
Truly, the P2P lending model is an amazing avenue that opens possibilities to millions of people. Whether you are looking into helping people with their financial woes or you are someone who needs some funding, this platform can provide the solutions that you seek. Explore the opportunities that await you with Blend.ph. Check out our borrower and investor programs now.