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QUICK Loans Online (QLO), the online lending platform operated by Mr. Angel Credit Corp. (Macc), would be used by Palafox Associates Inc. (PAI) to provide salary credits to the latter’s employees, according to PAI.

Given the increasing number of the unbanked and the underserved portions of the country’s population, majority of Filipinos do not have sufficient savings, according to Palafox General Manager Rubiliza Mendoza.

“Circumstances when employees have sudden cash requirements can occur anytime, especially during these times,” Mendoza added.

In need of money, they lack or don’t have resources at all, nor have access to salary loan programs through banks or traditional online credit providers, she said.

“Through QLO, we offer our employees another kind of protection,” Mendoza said. “They don’t have to worry about loan access when they need it.”

QLO’s salary loans are hassle-free, she added. Sans paperwork, employees can easily apply for a loan online through a mobile application. Apart from immediacy, they can expect almost 100-percent approval of their loans.

Palafox itself also benefits with this partnership since it doesn’t have to allocate more money to lend to its workers as they are fully funded by QLO and are payable through convenience of salary deduction, according to Mendoza.

The lender has a number of stipend loan offerings with different payment terms ranging from three to 12 months. This is a boost to the employees’ morale as they are given more freedom and flexibility to better manage their finances especially when emergencies arise.

“We believe this can have a positive impact on their welfare and satisfaction,” Mendoza said.

Macc is one of several online lenders recorded by the Securities and Exchange Commission with registration number CS201424334.