Being a freelancer in the Philippines has many advantages and disadvantages, and difficulty of getting a loan is one among the most common difficulties of the freelancers. Even if you earn high come from your freelance work, lenders will still feel the risk because the freelancer’s income is unpredictable, unless you have documentation proving the contrary. So how can the freelancers increase their chances of getting a loan on online loan application in the Philippines? Let’s follow the article below.

1. Build your credit score first

The first way to build trustworthiness of the freelancers in the Philippines trustworthy for high change of loan approval is to build and maintain your good credit scores.

Credit score is a criterion for lenders to evaluate the borrowers. By looking at the payment history, lenders will know a person’s solvency.

A good credit score makes it easier for the freelancers to borrow through online loan application in the Philippines


As a freelancer, having a good credit score works in your favor. To improve and maintain your credit score, you should remember to always pay your insurance premiums and credit card bills in full and on time, use your credit cards responsibly, and build a good credit history. 

2. Prepare financial proof

The lenders need to make sure that their borrowers will repay the loans, that is why they require some proof of income. If you are a freelancer who does not officially work for any company and does not have a pay slip as proof of income, you may try submitting other documents to prove your repayment ability. The following documents may be accepted by some lenders:

Prepare financial proof for your loan


3. Borrowing from a legitimate lender

Choosing legitimate and reputable lenders also helps your loan have a higher chance of being approved. You may contact the bank with which you have a long term relationship (at least a year) to check if you can get a personal loan. The bank may consider providing you a loan if it sees your bank account receiving payments from a freelance contract over a long period of time.

In addition to banks, online loan application in the Philippines are also a good choice for freelancers. Online loan application with the advantages of no need to prove financial, simple registration procedure, fast approval and disbursement time have become an effective financial solution for the freelancers.

Freelancers may borrow through online loan application in the Philippines


4. Loan application requirements and process at MoneyCat

If you are confused among online loan application in the Philippines, you may come to MoneyCat. We are the leading qualified and trusted lending platform, which is part of a large financial structure operating in Vietnam, the Philippines and Russia.

Just ensure the following requirements, you may successfully apply for a loan at MoneyCat

The loan application process at Money is significantly shortened. For freelancers, borrowing money at MoneyCat is extremely easy because we do not require financial proof or other complicated paperwork. You just need to do 4 simple steps as follows:



MoneyCat does not distinguish whether you are a freelancer or an ordinary office worker. With the advantages of simple, fast, and reputable lending procedure, MoneyCat is currently the leading online loan application in the Philippines for freelancers.

Above are tips for applying for a loan on online loan application in the Philippines for freelancers. If you are a freelancer and are having trouble in getting a loan,  MoneyCat may be your good option. We hope that the information will help you with the safest and most effective financial solutions.