Frequently Asked Questions
How can I book a service?
There are 2 ways to apply for our non-collateral business loan:
- Fill out our online application form here and wait for SMS and email confirmation for the next steps.
- Apply in any of our offices or accredited sales affiliates and partners nationwide.
What are the key conditions for a business loan?
Your business should have been operational for a minimum of one (1) year and you should have a checking account (CA) that has been active for at least six (6) months. See required documents here.
Is it possible to take out a loan without a checking account?
We only entertain clients who have an existing checking account because we receive our clients’ loan payments through post-dated checks (PDCs).
How long will it take for my application to be processed?
Processing takes up to 7 business days from the receipt of complete application documents.
How do I find out if my business loan application has been approved?
You will receive an email on the result of your application. In addition to that, an EFI Officer will contact you as soon as it has been approved!
How do I pay for my amortization?
Payment is done through submission of post-dated checks (PDCs) upon the release of the loan.
Can I take out a personal loan?
We are dedicated to helping local enterprises grow. As such, our business model and processes have not been developed to support personal loans.
What is your interest rate?
The interest rate is subject to the approval of the credit committee. The rate may vary depending on the loan amount as well as term length. We welcome interested applicants to submit an application and to sit down with us to discuss this further.