Cashspace is an online financial platform designed to provide quick and convenient personal loans to individuals in the Philippines. By partnering with various financial institutions, Cashspace offers users a streamlined process to access funds for various needs, such as emergencies, personal projects, or unforeseen expenses.
Key Features:
- Loan Amounts: Users can apply for loans ranging from ₱500 to ₱25,000, allowing flexibility to meet diverse financial requirements.
- Interest Rates: Many partner lenders provide microloans with a 0% interest rate for new clients, making borrowing more affordable.
- Application Process: The platform boasts a quick and easy application process. Applicants need to fill out a simple form, after which they receive a personalized list of loan offers from reputable financial organizations. This approach eliminates the need to visit multiple lenders individually.
- Approval Time: Cashspace emphasizes speed, with many users receiving loan approvals and fund disbursements shortly after application. The average approval time is approximately 15 minutes, ensuring timely access to funds.
- Credit History Consideration: Some partner lenders are willing to overlook past credit history, providing opportunities for individuals with less-than-perfect credit scores to secure loans.
How It Works:
- Application: Users select their desired loan amount and answer a few basic questions on the Cashspace website.
- Offer Selection: Based on the provided information, the platform generates a personalized list of loan offers from trusted financial partners.
- Approval and Disbursement: Upon selecting a suitable offer, users receive approval and the funds are disbursed directly to their bank account.
Customer Testimonials:
Many clients have expressed satisfaction with Cashspace’s services. For instance, Justin Lee mentioned, “Thanks to CASHSPACE, I can afford more now. I used to wait for my paycheck when my car broke down. Now I don’t have to. I fix everything at once.” Similarly, Teresa Gomez stated, “The service is really free. I just filled out an application, specified how much I wanted to get and I almost immediately got a selection, cool!”
Important Considerations:
- Service Nature: Cashspace is not a financial institution, bank, or direct lender. Instead, it acts as an intermediary, connecting clients with licensed financial institutions. The platform does not charge service fees and is not responsible for the actions, inactions, or interest rates of any lender. Users are under no obligation to initiate contact or request credit with any lenders the site connects them to.
- Loan Terms: The loans offered have minimum repayment terms of 61 days (2 months) and maximum repayment terms of 120 days (4 months). Lending rates vary from lender to lender, ranging from 12% to a maximum Annual Percentage Rate (APR) of 36%. For example, for a loan of ₱10,000 to be paid over 3 months, the total repayment amount would be ₱11,000.
In summary, Cashspace serves as a valuable resource for Filipinos seeking quick and accessible personal loans. Its user-friendly platform, combined with a network of reputable financial partners, ensures that users can find loan options tailored to their specific needs.
