Loan Contract
Eligibility for Loan Application:
This app is open exclusively to Filipino citizens between the ages of 18 and 60. To qualify, you must present a valid government-issued ID and demonstrate consistent income.
Be sure to fully understand the terms in the Disclosure Statement before submitting your loan application.
Loan Details at a Glance:
Amount You Can Borrow: ₱5,000 - ₱200,000
Loan Period: Choose from 91 days to 180 days
Interest Rate: 28/% APR
Service Charge: ₱100 - ₱4,000, with a 2% charge
Transaction Fees: None
Sample Loan Calculation: For a ₱8,000 loan over 180 days and paid in three installments:
Service Fee: ₱8,000 x 2% = ₱160
Installment Per Payment: ₱8,000 x 28/% / 365 x 60 + ₱25,000 / 180 x 60 = ₱3,035
Interest for Each Payment: ₱8,000 x 28% / 365 x 60 = ₱368
Total Interest Over Loan Term: ₱8,000 x 28% / 365 x 180 = ₱1,105
Total Repayment Due: ₱8,000 + ₱1,105 = ₱9,105
Amount Released to You: ₱7,840
1. Contact Method
This Agreement becomes effective on the date the loan funds are made available to the Borrower as per the Promissory Note and continues until the outlined obligations are met or are no longer required, unless terminated sooner by the Lender or otherwise revised by agreement of the Parties.
If you have any more questions or require our assistance, feel free to reach out:
Registered Name: DAVAO SOGY & SONS LENDING INVESTORS CORP.
Electronic Mail:
Customer Service Number: +63 9677320189
Office Location: A. Parakeet Street, Phase 2 Ecoland Subdivision, Barangay Bucana Davao City, Davao Del Sur, 8000 Philippines
2. Disclosure of Information
The Borrower hereby expressly permits the Lender to transfer and disclose to (i) the government authorities; (ii) any party/person proposing or considering to tender any payment towards or purchase the indebtedness under the Loan; (iii) its auditors, lawyers or any other debt collection agents; (v) credit reporting agencies; (vi) insurance companies, agents, contractors or third party service providers who are involved in the provision of products and services to or by the Lender and the holding company, head office, other branches, subsidiaries, related companies of the Lender; or (vii) for provision of or cross selling of products and services, any information relating to the Borrower's affairs or account in respect of the Loan, this Loan Agreement and the Promissory Note, and at any time and to such extent as the Lender may at its absolute discretion deem expedient or necessary. The Borrower hereby agrees that the aforesaid information may be used, encrypted, transmitted and stored by the Lender and its holding company, head office, other branches, subsidiaries, related companies and/or may be exchanged to or with all such persons as the Lender considers necessary to the extent as permitted by Philippine laws. The aforesaid actions are without liability to the Borrower. The Borrower expressly consents to such actions and declares that no further consent from the Borrower is necessary or required in relation thereto.
Notification Regarding R.A. No. 9510. Pursuant to Republic Act (R.A.) No. 9510 and its Implementing Rules and Regulations (IRR), creating the Credit Information Corporation (CIC) we are mandated to submit your basic credit data (as defined in R.A. No. 9510 and its IRR), as well as any regular updates or corrections thereof, to the CIC for consolidation and disclosure as may be authorized by the CIC, and other credit reporting agencies duly accredited by CIC, for the purpose of establishing your creditworthiness.
In case the Borrower fails to pay fully or correctly or timely the loan obligation, in addition to debt recovery measures as specified herein/therein or in accordance with the Philippine laws, the Lender shall be entitled to provide information on such failure to third parties, including but not limited to collection agencies for the purpose of collecting the loan obligation.
The Borrower agrees that Lender, directly or through its Partners, may collect, retrieve, process, use and store his/her personal data such as name, age, photographs, fingerprints, other biometric data (e.g., facial recognition and voice recognition), mobile number/s, mobile phone usage data, employment details, income, financial data, financial profile, credit standing, loan payment history, and other information required in the application form for the purpose of reviewing and processing the Borrower's loan application. The Borrower consents to the collection of his/her personal data from the Borrower her/himself, or from other personal information controllers such as, but not limited to, telecommunications companies (e.g., Globe, PLDT, Smart, Sun Cellular), for credit scoring purposes. The Borrower's personal data such as mobile number, email address, and address, will be shared to a credit scoring service provider for credit investigation, credit scoring, data analytics, and data profiling, which includes the regular updating of the Borrower's credit score. The personal data secured may also be used for direct marketing of products and services of Partners of the Lender. Throughout the processing of the Borrower's personal data, his/her rights under the Data Privacy Act of 2012, such as the (1) right to be informed, (2) right to object, (3) right to access, (4) right to rectification, (5) right to erasure or blocking, and (6) right to damages, shall be upheld. Entities to whom Lender share Borrower's personal data will also respect the same rights.
3. Interest on the Loan
The Borrower shall incur an obligation to the Lender for the accruement of interest on the Loan until its full repayment, with said interest to be computed and paid in adherence to the provisions outlined within these General Terms and Conditions.
Interest on the Loan is compounded daily until the Maturity Date. The interest rate is determined individually and explicitly indicated in the Disclosure Statement.
4. Loan Applications
Funds granted by the Lender are to be employed by the Borrower strictly for purposes that are legal and valid. Exclusively, the use of these funds is restricted to the Borrower's individual requirements.
5. Loan Amount Specification
It is hereby agreed by the Lender to provide a loan to the Borrower, and in turn, the Borrower, agrees to receive and make use of said loan from the Lender, with the sum total as determined in the Loan Decision, evidenced by the Promissory Note and noted in the Borrower's Personal Account.
6. Loan Term
"Loan Term" refers to the span over which the Borrower is to settle the principal value of the Loan, in addition to the relevant interest, charges, and fees as stated in the Disclosure Statement. This duration is set to range from ninety-one (91) calendar days to a maximum of one hundred and eighty (180) calendar days, subject to the term agreed upon in the Loan Decision.
7. Penalties and Charges for Late Payment
Should there be a failure in the timely repayment of any sum disbursed pursuant to this Loan agreement post the Maturity Date, it shall confer upon the Lender the right to demand from the Borrower, in addition to the sum that remains unpaid, a default fee. This fee is designated to be PhP1,000 for individuals who are availing of the loan facility for the inaugural time, and PhP800 for individuals who have previously availed of the loan facility, applicable as a one-off charge. Concurrently, an interest penalty will be enforced on the delinquent amount at a rate of 5% per diem starting from the initial day of the delay until the thirtieth day thereof. This rate will be modified to 4% per diem on the overdue sum starting from the thirty-first day of the delay up until the ninetieth day thereof. Following this interval, a further reduced interest rate of 2% per diem will be applied to the overdue sum commencing from the ninety-first day of delay continuing until the full repayment of the Loan.
8. Precondition Required for Release of the Loan
Disbursement of the Loan will only be initiated once the Lender has confirmed that the Borrower has met the required conditions: accurate entry of the Borrower's bank account details is mandatory; the uploading of a photo where the Borrower is holding an identification document in the Borrower's Personal account is required; and the Borrower's acceptance of the Loan Decision must be validated either through SMS confirmation or a direct voice confirmation.
After the Borrower's Loan Application is ratified by the Lender, the Borrower is precluded from revoking the Loan or declining the receipt of the Loan funds, unless such refusal is accompanied by fees related to cancellation, denial, or early settlement as pre-defined by the Lender. The Borrower acknowledges the Lender's sole discretion in deciding on the acceptance or rejection of any Loan cancellation.
The Lender is absolved of any liability for the transfer of Loan funds to an incorrect or different bank account attributable to the Borrower's error in data submission. Furthermore, the Lender is indemnified against any liabilities for delays or issues in the release of Loan funds to third parties, contingent upon the Borrower's written consent and directions.
9. Statements and Commitments
The Borrower makes the following representations and warranties to the Lender, which shall remain in force on a continuous basis:
he commitments made by the Borrower within this Loan Agreement, including all associated documents, are deemed to be legal, valid, enforceable, and in binding agreement upon the Borrower;
The execution and performance of this Loan Agreement by the Borrower, along with all transactions envisaged within, do not and will not lead to any conflict with any laws, regulations binding the Borrower, or any agreements or contracts to which the Borrower is a party;
No ongoing or foreseeable event of default is associated with the provision of this Loan;
The Borrower has provided the Lender with all pertinent information, financial or otherwise, concerning the Borrower and all related parties that is necessary for the Lender to be fully informed under the terms of this Loan Agreement. All such information is truthful, complete, and accurate to the best of the Borrower's knowledge and has not been presented in a misleading manner;
The Borrower has reviewed, comprehends, and agrees to the terms and conditions outlined in the Loan Agreement, and all relevant documents. The Borrower commits to adhere to these documents and any of their amendments, which are made available on the Lender's official website or communicated by the Lender through chosen communication methods;
The Borrower acknowledges their responsibility for the full, timely, and accurate repayment of the loan as detailed in the Loan Agreement;
The Borrower understands that the Lender retains the right to either accept or deny the Loan Application based on valid grounds. All application documents and supplementary paperwork submitted will be incorporated into the Lender's records and will not be returned to the Borrower.
The Borrower views their Loan Application as merely a proposal, with the final decision resting on the Lender's evaluation and approval processes, in line with the Lender's prevailing policies. The Borrower consents to respect the Lender's decisions and will not pursue any form of complaint or legal action against the Lender on these grounds;
The Borrower unequivocally accepts that they are rightfully indebted to the Lender for the amount of the loan disbursed according to the terms stipulated.
Additionally, throughout the tenure of the Loan, the Borrower undertakes to:
Use the loan solely for personal requirements, including but not limited to educational expenses, medical emergencies, travel, home maintenance, or other personal consumption purposes;
Comply with all applicable legal requirements in relation to the execution of their obligations under this Loan Agreement and associated documents;
Secure and maintain any necessary authorizations, consents, or approvals required to fulfil their obligations under this Loan Agreement and to ensure its enforceability and legal validity;
Promptly inform the Lender in writing of any event that may constitute a default under this Loan Agreement or any other agreement the Borrower is party to, as well as any actions being taken to address such issues;
Notify the Lender within three (3) days of any changes to their personal details such as name, date of birth, or residential address;
Inform the Lender about any changes to their employment, business, or professional activities. If self-employed, the Borrower commits to regularly update the Lender about their financial status as per the Lender's request.
10. Conditions Triggering Default
The following instances shall be deemed as Conditions Triggering Default:
The Borrower's non-adherence or failure to fulfill any provisions of the Loan Agreement, Promissory Note, or any supplemental agreements established between the Borrower and Lender;
The Borrower's omission to settle any due payments of principal, interest, or other obligated costs to the Lender as outlined in the Loan Agreement;
If any statements or guarantees offered by the Borrower in the context of the Loan are later found to be false or misleading at the moment they were made, irrespective of whether the Lender suffered any direct detriment from such inaccuracies or omissions;
The Borrower's voluntary cessation of financial activities, declaration of insolvency, incapacity to liquidate debts upon maturity, or engagement in any acts signifying bankruptcy or insolvency;
The imposition of a final verdict or order against the Borrower for a substantial financial penalty by a jurisdictionally competent court that remains unpaid, unaddressed, or not bonded within ten (10) days past its statutory due date;
The Borrower's death or legal conviction of a crime that entails a final judgment imposing civil interdiction, or any situation encompassed by Article 1198 of the Civil Code of the Philippines;
The occurrence of any significant negative change in the Borrower's financial status or condition since the Loan was granted, which, by the Lender's reasonable assessment, could impair the Borrower's capability to meet the Loan Agreement's obligations.
Outcome of Default
Upon an incident of Default:
The Lender reserves the right, at its discretion, to deem the aggregate Loan sum as instantly due and demand immediate and complete payment from the Borrower;
In cases where the default is attributed to the Borrower's failure to timely remit loan payments, the Late Payment Penalties and Fees will be applied;
The Lender shall possess all entitlements to remedies specified in the Promissory Note and as provided by law to assert its claims against the Borrower.
The Borrower hereby relinquishes any right to receive notices or undergo formalities necessary for the Lender to assert its rights subsequent to a Default occurrence. The Lender's forbearance or postponement in invoking any right, option, or privilege herein shall not be construed as a waiver thereof, except as expressly confirmed through a written waiver by the Lender.
11. Review
The Loan is subject to the Lender's review at any time and also subject to the Lender's overriding right of withdrawal and repayment on demand, which the Lender reserves the right to exercise at any time.
The Lender shall have the right to review and revise the Terms and Conditions specified hereunder at any time at its sole discretion.
This app is open exclusively to Filipino citizens between the ages of 18 and 60. To qualify, you must present a valid government-issued ID and demonstrate consistent income.
Be sure to fully understand the terms in the Disclosure Statement before submitting your loan application.
Loan Details at a Glance:
Amount You Can Borrow: ₱5,000 - ₱200,000
Loan Period: Choose from 91 days to 180 days
Interest Rate: 28/% APR
Service Charge: ₱100 - ₱4,000, with a 2% charge
Transaction Fees: None
Sample Loan Calculation: For a ₱8,000 loan over 180 days and paid in three installments:
Service Fee: ₱8,000 x 2% = ₱160
Installment Per Payment: ₱8,000 x 28/% / 365 x 60 + ₱25,000 / 180 x 60 = ₱3,035
Interest for Each Payment: ₱8,000 x 28% / 365 x 60 = ₱368
Total Interest Over Loan Term: ₱8,000 x 28% / 365 x 180 = ₱1,105
Total Repayment Due: ₱8,000 + ₱1,105 = ₱9,105
Amount Released to You: ₱7,840
1. Contact Method
This Agreement becomes effective on the date the loan funds are made available to the Borrower as per the Promissory Note and continues until the outlined obligations are met or are no longer required, unless terminated sooner by the Lender or otherwise revised by agreement of the Parties.
If you have any more questions or require our assistance, feel free to reach out:
Registered Name: DAVAO SOGY & SONS LENDING INVESTORS CORP.
Electronic Mail:
Customer Service Number: +63 9677320189
Office Location: A. Parakeet Street, Phase 2 Ecoland Subdivision, Barangay Bucana Davao City, Davao Del Sur, 8000 Philippines
2. Disclosure of Information
The Borrower hereby expressly permits the Lender to transfer and disclose to (i) the government authorities; (ii) any party/person proposing or considering to tender any payment towards or purchase the indebtedness under the Loan; (iii) its auditors, lawyers or any other debt collection agents; (v) credit reporting agencies; (vi) insurance companies, agents, contractors or third party service providers who are involved in the provision of products and services to or by the Lender and the holding company, head office, other branches, subsidiaries, related companies of the Lender; or (vii) for provision of or cross selling of products and services, any information relating to the Borrower's affairs or account in respect of the Loan, this Loan Agreement and the Promissory Note, and at any time and to such extent as the Lender may at its absolute discretion deem expedient or necessary. The Borrower hereby agrees that the aforesaid information may be used, encrypted, transmitted and stored by the Lender and its holding company, head office, other branches, subsidiaries, related companies and/or may be exchanged to or with all such persons as the Lender considers necessary to the extent as permitted by Philippine laws. The aforesaid actions are without liability to the Borrower. The Borrower expressly consents to such actions and declares that no further consent from the Borrower is necessary or required in relation thereto.
Notification Regarding R.A. No. 9510. Pursuant to Republic Act (R.A.) No. 9510 and its Implementing Rules and Regulations (IRR), creating the Credit Information Corporation (CIC) we are mandated to submit your basic credit data (as defined in R.A. No. 9510 and its IRR), as well as any regular updates or corrections thereof, to the CIC for consolidation and disclosure as may be authorized by the CIC, and other credit reporting agencies duly accredited by CIC, for the purpose of establishing your creditworthiness.
In case the Borrower fails to pay fully or correctly or timely the loan obligation, in addition to debt recovery measures as specified herein/therein or in accordance with the Philippine laws, the Lender shall be entitled to provide information on such failure to third parties, including but not limited to collection agencies for the purpose of collecting the loan obligation.
The Borrower agrees that Lender, directly or through its Partners, may collect, retrieve, process, use and store his/her personal data such as name, age, photographs, fingerprints, other biometric data (e.g., facial recognition and voice recognition), mobile number/s, mobile phone usage data, employment details, income, financial data, financial profile, credit standing, loan payment history, and other information required in the application form for the purpose of reviewing and processing the Borrower's loan application. The Borrower consents to the collection of his/her personal data from the Borrower her/himself, or from other personal information controllers such as, but not limited to, telecommunications companies (e.g., Globe, PLDT, Smart, Sun Cellular), for credit scoring purposes. The Borrower's personal data such as mobile number, email address, and address, will be shared to a credit scoring service provider for credit investigation, credit scoring, data analytics, and data profiling, which includes the regular updating of the Borrower's credit score. The personal data secured may also be used for direct marketing of products and services of Partners of the Lender. Throughout the processing of the Borrower's personal data, his/her rights under the Data Privacy Act of 2012, such as the (1) right to be informed, (2) right to object, (3) right to access, (4) right to rectification, (5) right to erasure or blocking, and (6) right to damages, shall be upheld. Entities to whom Lender share Borrower's personal data will also respect the same rights.
3. Interest on the Loan
The Borrower shall incur an obligation to the Lender for the accruement of interest on the Loan until its full repayment, with said interest to be computed and paid in adherence to the provisions outlined within these General Terms and Conditions.
Interest on the Loan is compounded daily until the Maturity Date. The interest rate is determined individually and explicitly indicated in the Disclosure Statement.
4. Loan Applications
Funds granted by the Lender are to be employed by the Borrower strictly for purposes that are legal and valid. Exclusively, the use of these funds is restricted to the Borrower's individual requirements.
5. Loan Amount Specification
It is hereby agreed by the Lender to provide a loan to the Borrower, and in turn, the Borrower, agrees to receive and make use of said loan from the Lender, with the sum total as determined in the Loan Decision, evidenced by the Promissory Note and noted in the Borrower's Personal Account.
6. Loan Term
"Loan Term" refers to the span over which the Borrower is to settle the principal value of the Loan, in addition to the relevant interest, charges, and fees as stated in the Disclosure Statement. This duration is set to range from ninety-one (91) calendar days to a maximum of one hundred and eighty (180) calendar days, subject to the term agreed upon in the Loan Decision.
7. Penalties and Charges for Late Payment
Should there be a failure in the timely repayment of any sum disbursed pursuant to this Loan agreement post the Maturity Date, it shall confer upon the Lender the right to demand from the Borrower, in addition to the sum that remains unpaid, a default fee. This fee is designated to be PhP1,000 for individuals who are availing of the loan facility for the inaugural time, and PhP800 for individuals who have previously availed of the loan facility, applicable as a one-off charge. Concurrently, an interest penalty will be enforced on the delinquent amount at a rate of 5% per diem starting from the initial day of the delay until the thirtieth day thereof. This rate will be modified to 4% per diem on the overdue sum starting from the thirty-first day of the delay up until the ninetieth day thereof. Following this interval, a further reduced interest rate of 2% per diem will be applied to the overdue sum commencing from the ninety-first day of delay continuing until the full repayment of the Loan.
8. Precondition Required for Release of the Loan
Disbursement of the Loan will only be initiated once the Lender has confirmed that the Borrower has met the required conditions: accurate entry of the Borrower's bank account details is mandatory; the uploading of a photo where the Borrower is holding an identification document in the Borrower's Personal account is required; and the Borrower's acceptance of the Loan Decision must be validated either through SMS confirmation or a direct voice confirmation.
After the Borrower's Loan Application is ratified by the Lender, the Borrower is precluded from revoking the Loan or declining the receipt of the Loan funds, unless such refusal is accompanied by fees related to cancellation, denial, or early settlement as pre-defined by the Lender. The Borrower acknowledges the Lender's sole discretion in deciding on the acceptance or rejection of any Loan cancellation.
The Lender is absolved of any liability for the transfer of Loan funds to an incorrect or different bank account attributable to the Borrower's error in data submission. Furthermore, the Lender is indemnified against any liabilities for delays or issues in the release of Loan funds to third parties, contingent upon the Borrower's written consent and directions.
9. Statements and Commitments
The Borrower makes the following representations and warranties to the Lender, which shall remain in force on a continuous basis:
he commitments made by the Borrower within this Loan Agreement, including all associated documents, are deemed to be legal, valid, enforceable, and in binding agreement upon the Borrower;
The execution and performance of this Loan Agreement by the Borrower, along with all transactions envisaged within, do not and will not lead to any conflict with any laws, regulations binding the Borrower, or any agreements or contracts to which the Borrower is a party;
No ongoing or foreseeable event of default is associated with the provision of this Loan;
The Borrower has provided the Lender with all pertinent information, financial or otherwise, concerning the Borrower and all related parties that is necessary for the Lender to be fully informed under the terms of this Loan Agreement. All such information is truthful, complete, and accurate to the best of the Borrower's knowledge and has not been presented in a misleading manner;
The Borrower has reviewed, comprehends, and agrees to the terms and conditions outlined in the Loan Agreement, and all relevant documents. The Borrower commits to adhere to these documents and any of their amendments, which are made available on the Lender's official website or communicated by the Lender through chosen communication methods;
The Borrower acknowledges their responsibility for the full, timely, and accurate repayment of the loan as detailed in the Loan Agreement;
The Borrower understands that the Lender retains the right to either accept or deny the Loan Application based on valid grounds. All application documents and supplementary paperwork submitted will be incorporated into the Lender's records and will not be returned to the Borrower.
The Borrower views their Loan Application as merely a proposal, with the final decision resting on the Lender's evaluation and approval processes, in line with the Lender's prevailing policies. The Borrower consents to respect the Lender's decisions and will not pursue any form of complaint or legal action against the Lender on these grounds;
The Borrower unequivocally accepts that they are rightfully indebted to the Lender for the amount of the loan disbursed according to the terms stipulated.
Additionally, throughout the tenure of the Loan, the Borrower undertakes to:
Use the loan solely for personal requirements, including but not limited to educational expenses, medical emergencies, travel, home maintenance, or other personal consumption purposes;
Comply with all applicable legal requirements in relation to the execution of their obligations under this Loan Agreement and associated documents;
Secure and maintain any necessary authorizations, consents, or approvals required to fulfil their obligations under this Loan Agreement and to ensure its enforceability and legal validity;
Promptly inform the Lender in writing of any event that may constitute a default under this Loan Agreement or any other agreement the Borrower is party to, as well as any actions being taken to address such issues;
Notify the Lender within three (3) days of any changes to their personal details such as name, date of birth, or residential address;
Inform the Lender about any changes to their employment, business, or professional activities. If self-employed, the Borrower commits to regularly update the Lender about their financial status as per the Lender's request.
10. Conditions Triggering Default
The following instances shall be deemed as Conditions Triggering Default:
The Borrower's non-adherence or failure to fulfill any provisions of the Loan Agreement, Promissory Note, or any supplemental agreements established between the Borrower and Lender;
The Borrower's omission to settle any due payments of principal, interest, or other obligated costs to the Lender as outlined in the Loan Agreement;
If any statements or guarantees offered by the Borrower in the context of the Loan are later found to be false or misleading at the moment they were made, irrespective of whether the Lender suffered any direct detriment from such inaccuracies or omissions;
The Borrower's voluntary cessation of financial activities, declaration of insolvency, incapacity to liquidate debts upon maturity, or engagement in any acts signifying bankruptcy or insolvency;
The imposition of a final verdict or order against the Borrower for a substantial financial penalty by a jurisdictionally competent court that remains unpaid, unaddressed, or not bonded within ten (10) days past its statutory due date;
The Borrower's death or legal conviction of a crime that entails a final judgment imposing civil interdiction, or any situation encompassed by Article 1198 of the Civil Code of the Philippines;
The occurrence of any significant negative change in the Borrower's financial status or condition since the Loan was granted, which, by the Lender's reasonable assessment, could impair the Borrower's capability to meet the Loan Agreement's obligations.
Outcome of Default
Upon an incident of Default:
The Lender reserves the right, at its discretion, to deem the aggregate Loan sum as instantly due and demand immediate and complete payment from the Borrower;
In cases where the default is attributed to the Borrower's failure to timely remit loan payments, the Late Payment Penalties and Fees will be applied;
The Lender shall possess all entitlements to remedies specified in the Promissory Note and as provided by law to assert its claims against the Borrower.
The Borrower hereby relinquishes any right to receive notices or undergo formalities necessary for the Lender to assert its rights subsequent to a Default occurrence. The Lender's forbearance or postponement in invoking any right, option, or privilege herein shall not be construed as a waiver thereof, except as expressly confirmed through a written waiver by the Lender.
11. Review
The Loan is subject to the Lender's review at any time and also subject to the Lender's overriding right of withdrawal and repayment on demand, which the Lender reserves the right to exercise at any time.
The Lender shall have the right to review and revise the Terms and Conditions specified hereunder at any time at its sole discretion.