In the Philippines, private borrowing is defined as the financing solution granted by a filipino private lender or a filipino investor to a filipino borrower without using a filipino bank.
In the Philippines, a private loan is essentially applied by in filipino individuals and filipino entrepreneurs who are facing several rejections when they procees with loan applications to filipino banks.
In the Philippines, private financing is normally provided either through filipino lenders who can be found in the internet, or through regulated filipino P2P (peer-to-peer) lending places who attract private investors and private borrowers.
In the Philippines, private lenders are in general reliable assuming they have good intentions in terms of business, nevertheless borrowers shall be cautious in order not to fall in a scam trap.
PRIVATE LENDING IN PHILIPPINES