Loan Eligibility Criteria:
This app is available exclusively to Filipino citizens aged 18 to 60. Applicants must provide a valid government-issued ID and proof of reliable income.
Please make sure to carefully review the Disclosure Statement before applying for the loan.
Loan Overview:
Loan Amount: From ₱5,000 to ₱200,000
Repayment Period: Options from 91 days to 360 days
Annual Interest Rate: 16.45% APR
Service Charge: With a 1% fee, from ₱50 to ₱2,000
Transaction Fees: None
Example Loan Breakdown: For a ₱15,000 loan over 150 days with 5 installments:
Service Charge: ₱15,000 x 1% = ₱150
Installment Payment: ₱15,000 x 16.45% / 365 x 30 + ₱15,000 / 150 x 30 = ₱3,203
Interest Per Installment: ₱15,000 x 16.45% / 365 x 30 = ₱203
Total Interest Over Loan Duration: ₱15,000 x 16.45% / 365 x 150 = ₱1,014
Total Repayment Amount: ₱15,000 + ₱1,014 = ₱16,104
Amount Transferred To You: ₱15,000 - ₱150 = ₱14,850
1. Contact with Us
The effectiveness of this Loan Agreement begins when the loan amount is disbursed to the Borrower, in accordance with the procedures stated in the Promissory Note, and will remain operative until the requirements set forth herein are no longer applicable, except if earlier terminated by the Lender or altered through mutual consent of the Parties.
Should you require further information or assistance, do not hesitate to contact us:
Legal Entity Name: ESPIRA SOLUTIONS OPC
Email Contact: contactus@espirasolutionsph.com
Customer Service Line: 9452390461
Physical Address: Penthouse Hollywood Square Building No. 33 West Avenue, Nayong Kaunlaran Quezon City, Metro Manila, 1104 Philippines
2. Entire Agreement
This Agreement constitutes the entire agreement and supersedes all prior agreements, understandings, representations, warranties and arrangements of whatever nature whatsoever, both written and oral, among the Parties with respect to the subject matter of this Agreement.
3. Loan Purpose
The Loan issued by the Lender is to be used by the Borrower for legal and legitimate purpose. The loan proceeds shall be used by the Borrower exclusively for personal use.
4. Terms of Loan Repayment
"Terms of Loan" signifies the timeframe within which the Borrower is required to remit payment of the Loan's principal amount, plus the pertinent interest, charges, and fees as enumerated in the Disclosure Statement. The duration of this term may vary from ninety-one (91) to three hundred and sixty (360) calendar days, based on the duration approved in the Loan Decision.
5. Interest
The Borrower shall be answerable to the Lender for the payment of interest on the Loan until the entire sum is discharged, with the interest being computed and disbursed in adherence to the provisions specified in these General Terms and Conditions.
Interest on the Loan accumulates daily until the Maturity Date. The interest rate is determined on an individual basis and elucidated in the Disclosure Statement.
6. 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.
7. Late Payment Penalties and Charges
Upon the occurrence of any delinquent payment subsequent to the Maturity Date of the financial sum made available under the framework of this Loan, the Borrower shall be obligated to remunerate the Lender not solely with the overdue amount but also with a default penalty. This penalty is stipulated to be in the sum of PhP1,000 for clients engaging with the service for the first instance, and PhP800 for clients who are engaging with the service for subsequent instances. This is to be paid a singular time. In addition to the aforementioned penalties, an interest rate shall be levied on the unpaid amount at a daily rate of 5% commencing from the first day following the delay until the completion of the thirtieth day post-delay. Thereafter, the interest rate shall be adjusted to 4% of the overdue amount, applied daily from the thirty-first day of delay through to the ninetieth day of delay. Subsequent to this period, a reduced interest rate of 2% shall be imposed on the overdue amount, applied daily from the ninety-first day of delay until the complete liquidation of the Loan amount.
8. Prerequisite Conditions for Disbursement of the Loan
The disbursement of the Loan funds will be executed solely upon the satisfactory fulfillment of the subsequent conditions to the Lender's approval: the Borrower must provide accurate bank account details; a photo of the Borrower alongside an identity document must be uploaded to the Borrower's Personal account; and the Borrower must acknowledge and accept the Loan Decision through an SMS confirmation or a verbal confirmation via a direct phone call.
Once the Lender accepts the Loan Application submitted by the Borrower, the latter loses any right to cancel or decline the Loan proceeds, except in situations where such denial results in fees for cancellation, refusal, or early repayment as determined by the Lender. The Borrower concedes that the decision to permit or deny the Loan cancellation rests solely with the Lender.
The Lender bears no responsibility for funds released to an incorrect bank account due to the Borrower's data entry mistakes. Moreover, the Lender will not be held accountable for any delays or issues in the disbursement of Loan funds to third parties, as per the Borrower's written directives and instructions.
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. Event of Default
Any and all of the following shall constitute Events of Default:
Failure by Borrower to comply with or perform any of the terms and conditions of the Loan Agreement, Promissory Note, or any other agreements between Borrower and Lender;
Borrower fails to pay when due and payable any principal amounts, interests, costs which Borrower is obliged to pay the Lender under the Loan Agreement;
Any representation or warranty made by Borrower herein or otherwise in connection with the Loan shall prove to have been incorrect or misleading as of the time it was made or deemed to have been made, and without reference to whether or not Lender was in fact prejudiced by such untruthfulness and/or non-fulfillment;
Borrower voluntarily suspends or ceases his/her personal financial conditions or becomes insolvent or is unable to pay his/her debts when they become due or commits or permits any act of bankruptcy or insolvency;
Any final judgment or decree for a substantial sum of money, damages or for a fine or penalty is entered against Borrower by a court of competent jurisdiction and is not paid, discharged or fully bonded within ten (10) days after the date when payment of such judgment or decree is due under applicable laws;
Borrower dies or is convicted of a criminal offense with final judgment carrying with it a penalty of civil interdiction affecting Borrower, or in any of the cases covered by Article 1198 of the Civil Code of the Philippines;
There shall have occurred a material change in the financial circumstances or condition of Borrower reckoned from the approval of the Loan, which, in the reasonable opinion of Lender, would adversely affect the ability of Borrower to perform the obligations under the Loan Agreement.
Consequence of Default
Should an Event of Default occur:
Lender shall have the right, at its discretion, to consider the full amount of the Loan as immediately due and demandable, and require Borrower to make full and immediate payment thereof;
If the default is a result of a failure of the Borrower to timely pay the Loan, the Late Payment Penalties and Fees shall apply;
Lender shall have all the rights to the remedies provided in the Promissory Note and in law for purposes of enforcing its claims against the Borrower.
To the extent allowed under Philippine law, Borrower accepts to waive any notice or formality meant to enable the Lender to exercise its rights arising from the occurrence of an Event of Default. The failure or the delay to exercise any right, options, power or privilege hereunder shall not operate as a waiver of any right of the Lender to exercise the same hereunder, unless said waiver is given in writing by the Lender, and then only to the extent specifically set forth in said writing.
11. Information Disclosure
The Borrower unconditionally allows the Lender to disclose pertinent information about the Borrower's financial engagements or accounts related to this Loan, the Loan Agreement, and the Promissory Note to various parties including (i) regulatory and government bodies; (ii) individuals or entities considering the acquisition or payment of the debt under this Loan; (iii) the Lender's auditors, legal advisors, or collection agencies; (iv) credit reporting entities; (v) insurance firms, agents, third-party service providers, or contractors linked to the Lender's or its affiliates' service and product offerings, including its parent company, branches, subsidiaries, and affiliates; or (vi) for the purpose of marketing or cross-selling relevant services or products. The Lender is granted full discretion to decide the extent of such information sharing as deemed necessary or required, in full compliance with Philippine laws, absolving the Lender of any liability towards the Borrower for such actions. The Borrower acknowledges this agreement and negates the necessity for any additional consent regarding these disclosures.
In compliance with Republic Act No. 9510 and its Implementing Rules and Regulations, establishing the Credit Information Corporation (CIC), the Lender is required to forward the Borrower's basic credit data and any subsequent updates or corrections to the CIC. This data may be shared with the CIC and other duly accredited credit reporting agencies to evaluate the Borrower's credit standing.
If the Borrower fails to meet their loan obligations on time, accurately, or completely, in addition to the Lender undertaking debt recovery actions as prescribed or under Philippine law, the Lender may report such non-compliance to third-party agencies, including collection agencies, aimed at recovering the loan debt.
The Borrower consents for the Lender and its partners to collect, recover, process, utilize, and store personal information including, but not limited to, name, age, biometric identifiers, contact details, employment and financial status for processing the loan application. This consent includes acquiring personal data directly from the Borrower or through other data controllers for purposes such as credit scoring. The Borrower's personal information may be shared with credit scoring providers for the purpose of credit investigation and scoring, data analysis, and regular credit score updates. Furthermore, the Borrower's data may be employed for the direct marketing of the Lender's partner offerings. All personal data processing will respect the Borrower's rights under the Data Privacy Act of 2012, ensuring entities involved adhere to the same standards of data rights protection.
12. Review
This Loan Agreement grants the Lender the prerogative to conduct periodic evaluations of the Loan at any juncture. Additionally, the Lender possesses an absolute right to demand repayment and retract the Loan based on its discretion, a right which the Lender may implement as deemed necessary.
Furthermore, the Lender is entitled to periodically reassess and amend the Terms and Conditions of this Agreement, exercising such authority at its sole discretion.