Professional Documents
Culture Documents
Group 7 - Week 2 Credit Policies
Group 7 - Week 2 Credit Policies
Group 7 - Week 2 Credit Policies
Thank you for choosing Laia Alora for your credit needs. We look forward to serving
you and continuing to provide excellent credit services. Should you have any
questions or require further assistance, please do not hesitate to reach out to our
Customer Support team.
Customer Selection Criteria
1. Annual Revenue
Customers with a stable and sufficient annual income are preferred.
Minimum annual income requirement: ₱150,000.
2. Profitability
Customers should demonstrate financial stability and the ability to
manage expenses within their income.
A track record of responsible financial management is a plus.
3. Cash Flow
Customers should maintain positive cash flow, ensuring they can cover
essential expenses and potential credit payments.
A stable cash flow is preferred, indicating the ability to repay debts.
4. Credit History
Customers with a history of responsible credit behavior are preferred.
This includes timely payments on previous loans and a strong payment
history.
5. Outstanding Debts
Customers with manageable outstanding debts are preferred.
High outstanding debts may indicate a higher risk.
6. Payment History
Customers who have never missed a payment and consistently meet
their financial obligations are preferred.
A strong payment history is a strong indicator of creditworthiness.
7. Personal Reputation
Customers with a reputation for responsibility, dedication, and
commitment are preferred.
Positive personal and professional references can enhance their
creditworthiness.
Financial Information
Annual Income
For Individuals: ₱_________________
Credit History
List any previous credit transactions (e.g., loans, credit cards) and your payment history:
Outstanding Debts
Type of Debt Current Balance
I hereby declare that the information provided in this application is true and accurate to the best
of my knowledge. I understand that Laia Alora may conduct a credit check and verify the
information provided.
Date: 09/19/2023
Laia Alora is pleased to advised that based on the information provided and a thorough
review of your credit, you have been approved for a personal loan subject to the
following terms and conditions:
Conditions:
1. PAYMENTS
1.1. The Customer agrees to pay each installment Amount, including any applicable
charges and fees, on or before the Due Date and only through the payment channels
identified by Laia Alora. Payments are due on each Due Date as stated in the
Disclosure Statement, without any further notice or demand.
1.2. If the Customer pays more than the Installment Amount or any other amount due
on the Personal loan, the Customer can choose to put the extra money toward the next
Installment Amount or any other amount due. If the customer doesn't owe any other
money, he or she can call Laia Alora's number and ask for the extra payment back. The
customer will then be told when and how to get the extra payment from Laia Alora.
2.1. Laia Alora will send directions on how to get the cash, which is the same amount as
the Loan Amount, to the Customer's Registered Contact Details.
2.2. Laia Alora will give out the money through the Payout Channel shown above. The
Customer agrees that the Loan will be automatically canceled if he or she is not able to
pick up the Loan Amount or get it deposited into his or her bank account within seven
(7) calendar days of the Effective Date.
2.3. For payment by bank transfer, the Customer agrees that he or she owns the bank
account listed above and that putting the Loan Amount in the bank account is a legal
way to get the Loan Amount.
3. PAYMENTS IN ADVANCE
3.1. For Early Repayment, if the Customer is not late or in default, the Customer may
pay off the balance of the Loan Amount before the Last Due Date without paying
interest on the balance, as long as the following conditions are met:
3.1.1. For Partial Early Repayment, the Customer should pay the Partial Early
Repayment Fee and any other amounts owed to Laia Alora along with the early
payment of part of the Loan Amount. The minimum amount of Partial Early Repayment
must be equal to one repayment.
4. Interest.
4.1 Customers agree to pay Personal Loan interest at the fixed rate negotiated with Laia
Alora. Daily interest is computed based on the loan's decreasing balance. I attest that I
have read and comprehend the Disclosure Statement provided by Laia Alora. The
validity of these terms shall not be affected by any variance between the requested
Quick Loans amount, interest rate, or term and the amount, interest rate, or term
ultimately approved by Laia Alora.
5.1 In the event of non-payment of the entire loan or any portion thereof on the due
date/maturity for any reason, including but not limited to the closure of my
savings/deposit/payroll/pension account, the entire sum of outstanding and unpaid
amount under the Promissory Note shall become immediately due and payable without
the need for demand or notice to me. In the event of default, I agree to pay as penalty
charges jointly and severally.
This approval is effective on September 28, 2023. Any change in the information
provided may require a re-evaluation of your loan request.
Laia Alora is delighted to provide you with this service. Upon acceptance of the credit
terms, please notify us immediately in order to complete your credit application and
make arrangements for settlements.
Laia Alora
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