Advantages and Disadvantages of Borrowing from a Private Lender

Posted at Aug 10 2018 03:02 PM

MANILA -- Planning to borrow money from a private lender? Before you do, you have to know first what you're getting into.

Private lenders include non-bank companies and individuals that provide short-term personal loans. Filipinos who can’t qualify for bank loans often turn to these lenders to cover urgent financial needs.

Is it really better to borrow from such entities? Consider these pros and cons.

For more finance tips, visit