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About Radiowealth Finance Corp (RFC)
Radiowealth Finance Company (RFC) is one of the most established loan institutions in the Philippines, having been founded in 1935. Originally a pioneer in appliance financing, RFC has since expanded its offerings to a broad range of loan products. The company seeks to serve Filipinos who may not have access to banking services or are unable to avail of banks’ credit and loan products due to lack of financial documents or eligibility issues. This makes RFC a vital source of alternative funding for underserved communities in the Philippines.
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In 2015, RFC expanded its loan offerings to include business and personal loans. In 2017, the company shifted its focus towards building online networks to make it easier for borrowers to apply for loans. As a result, RFC loan applications can now be done entirely online, providing convenience for borrowers.
RFC offers three main types of loans: financing loans, multi-purpose loans, and business loans
- Financing Loans: These loans are designed for those who need to fulfill financial goals such as buying a car, upgrading appliances, procuring office and business equipment, and more. Specific types of financing loans include loans for motorcycles, tricycles, e-bikes, personal vehicles, cars, vans, public utility vehicles, home appliances/gadgets, machineries and heavy equipment, farm equipment, medical equipment, and special equipment.
- Multi-Purpose Loans: Formerly known as EasyRFC personal loans, these provide quick cash for urgent or critical needs. The maximum loan term for these is 18 months, with loan amounts capped at ₱100,000. Specific types of multi-purpose loans include education loans, home improvement loans, vehicle modification loans, and salary loans.
- Business Loans: I was unable to find detailed information on the specifics of their business loans within the time frame.
The amount one can borrow from RFC ranges from ₱10,000 up to ₱5 million, depending on the type of loan. Payment terms are flexible, ranging from three to 36 months. Borrowers who own properties or other valuable items can use them as collateral to get lower interest rates and higher loan amounts. Additionally, borrowers in good credit standing with RFC can renew their loans.
Please note that while I have provided a general overview of Radiowealth Finance Corporation and its services, specific details, such as current interest rates and other terms, may vary. For the most accurate and up-to-date information, it would be best to directly contact RFC or visit their official website.
Is Radiowealth Finance Corp Legal? Is it SEC Registered?
Radiowealth Finance Corporation (RFC) is a well-established financial institution in the Philippines, offering a wide range of loan products to Filipinos, particularly those who don’t have access to traditional banking services. It has been in operation since 1935 and has continuously evolved to cater to the changing needs of its customer base, notably shifting focus towards online networks in 2017.
| Financing Company Name | RADIOWEALTH FINANCE CO., INC. |
| Registration No. | AS9600005A |
| Certificate of Authority | 173 |
| Anniversary Date | 25-Mar-96 |
However, I encountered some challenges while attempting to confirm RFC’s current registration status with the Philippines’ Securities and Exchange Commission (SEC). The SEC’s official website, as well as some other sources, were experiencing technical issues, preventing me from obtaining a clear answer. RFC’s official website could also provide this information, but it was unfortunately inaccessible at the time of my search.
While RFC’s longevity and reputation suggest it is likely to be registered and operating legally, I would recommend that you directly contact RFC or the SEC to confirm this information for absolute certainty. It’s always important to verify the legal and regulatory status of financial institutions before engaging in business with them.
Radiowealth Finance Corp Services and Benefits
Radiowealth Finance Corporation (RFC) offers a range of services and benefits to its customers. They primarily provide various types of loans that cater to the different needs of Filipinos. Here is an overview of the loan products they offer and their associated benefits:
Financing Loans: These loans are designed for individuals or businesses that need to fulfill financial goals. This can include purchasing a vehicle, upgrading appliances, procuring office and business equipment, and more. RFC’s financing loans offer a number of benefits, including:
- Flexible payment terms.
- Various types of financing loans to meet a range of needs.
- Option to use properties or other valuable items as collateral to get lower interest rates and higher loan amounts.
Multi-Purpose Loans: These loans provide quick cash for urgent or critical needs. The benefits of RFC’s multi-purpose loans include:
- Quick access to cash for a range of purposes, including education, home improvement, vehicle modification, and salary loans.
- Option for employers to avail of these as a benefit for their employees.
- The process is quick, with a maximum loan term of 18 months and loan amounts capped at ₱100,000.
RFC provides additional benefits to its customers, including
- Convenience: RFC has focused on building online networks, making it easier for borrowers to apply for loans. RFC loan applications can now be done entirely online, providing convenience for borrowers.
- Flexible Terms: Borrowers can choose payment terms ranging from three to 36 months depending on the type of loan. Also, if a borrower is in good credit standing with RFC, they can renew their loan.
- Wide Loan Range: Depending on the type of loan, borrowers can apply for loans ranging from ₱10,000 to ₱5 million, making RFC a versatile option for different borrowing needs【10†source】.
- Established Company: With a history dating back to 1935, RFC is a well-established financial institution. This longevity and the company’s understanding of Filipinos’ needs means borrowers can rely on RFC for their immediate cash needs.
Please note that while I have provided a general overview of Radiowealth Finance Corporation and its services, specific details, such as current interest rates and other terms, may vary. For the most accurate and up-to-date information, it would be best to directly contact RFC or visit their official website.
Types of Loans Offered by RFC
- Personal Loans: RFC offers personal loans that cater to Filipinos’ various needs. Whether one needs to cover emergency expenses, fund business ventures, or invest in personal growth, there’s an RFC personal loan that fits their requirements. Customers can borrow money from ₱10,000 up to ₱5 million, with flexible payment terms ranging from three to 36 months. I attempted to find more specific details about the personal loans offered by RFC, but unfortunately, I was not able to access comprehensive information due to technical difficulties.
- Business Loans: RFC Business Loans are designed to help entrepreneurs grow their businesses. The loan can be used for purchasing additional inventory, expanding the business, or covering operational costs. RFC Business Loans have a loan term of up to 18 months, with a maximum loanable amount of ₱100,000.
- Multi-Purpose Loans: Formerly known as EasyRFC personal loan, these loans give Filipinos access to quick cash for urgent or critical needs. The maximum loan term is 18 months, with loan amounts capped at ₱100,000. They include Education Loan, Home Improvement Loan, Vehicle Modification Loan, and Salary Loan.
- Financing Loans: These are intended for borrowers who need to fulfill financial goals like buying a car, upgrading appliances, procuring business equipment, and more. The offerings include Motorcycle, Tricycle, and E-Bike Loan; Personal Vehicle, Car, and Van Loan; Public Utility Vehicle Loan; Home Appliance / Gadget Loan; Machineries and Heavy Equipment Loan; Farm Equipment Loan; Medical Equipment Loan; Special Equipment Loan.
- Overseas Filipino Worker (OFW) Loans: I haven’t been able to find specific information on this type of loan from RFC yet. I will continue to search and provide more details.
I’ll continue researching to find more detailed information about each of these loan types, particularly personal loans and OFW loans. Please note that the exact terms and conditions of these loans may vary, and it’s always a good idea to contact RFC or visit their official website for the most accurate and up-to-date information.
Loan Parameters and Interest Rates
How to Apply for a Loan with Radiowealth Finance Corp?
To apply for a loan with Radiowealth Finance Corp (RFC), you generally follow these steps:
- Check the requirements: Ensure that you are eligible for the loan you want to apply for and that you have all the necessary documents. The specific requirements might differ depending on the type of loan you are applying for.
- Fill out the application form: Once you have gathered all the required documents, you can proceed to fill out the RFC loan application form. This is typically done online.
- Submit your application: After filling out the application form, you can submit it along with the required documents. You might need to upload scanned copies of your documents if you’re applying online.
- Wait for approval: Once you’ve submitted your application, it will be reviewed by RFC. If your application is approved, they will contact you to discuss the next steps.
- Release of loan proceeds: Upon approval, the loan amount will be released to you.
Please note that this is a general process and it might vary slightly depending on the specific type of loan you are applying for. I recommend checking RFC’s official website or contacting them directly for the most accurate and up-to-date information.
Loan Requirements in RFC
For most loans, RFC typically requires the following:
- Proof of identity: This can be a government-issued ID or any other valid form of identification.
- Proof of income: You’ll need to provide documents that show you have a stable source of income. This could be pay slips, income tax returns, or bank statements.
- Proof of address: You’ll need to show proof that you reside in the Philippines. This could be a billing statement or any document showing your current address1.
- For working borrowers specifically, lenders often look at your credit history, employment status, and income level. If you are employed, you may need to provide proof of employment such as a Certificate of Employment, pay slips, or income tax returns. Also, personal loans are typically unsecured, meaning they don’t require collateral. However, this means the lender takes on more risk, so your creditworthiness will likely be scrutinized more closely.
For self-employed borrowers and companies, the requirements might involve business registration documents, financial statements, and tax returns. Lenders typically want to see that the business is profitable and has been in operation for a certain number of years.
How to Repay a Radiowealth Finance Corp Personal Loan?
There are several convenient ways to repay loans provided by the RFC. You can make your payments at any affiliated bank of a financial company or via dedicated loan payment kiosks found in various Philippine cities.
Additionally, the RFC offers the option of making repayments in person at any of their representative offices. For more details, please reach out to the RFC loan hotline on either +639611361660 or +639053079062.
RFC Phone and Contact Number
Clients who are having inquiries with Radiowealth Finance Company may reach out through the following channels:
Phone Number:
- (+632) 86501138
Mobile Number:
- 09611361660
- 09953079062
Email: customercare@rfc.com.ph
RFC Branches
Main branch: The DMG Center, D.M.Guevara St., Mandaluyong City 1550
Other branches:
- Fuentes Drive.
- Roxas City 5800 Capiz.
- Ledesma, Iloilo City 5000 Iloilo.
- 68 Real Street, Pamplona.
- Las Pinas City.
- Metro Manila and many more.
