How to Get Loan Online for Freelancers in the Philippines

Looking for ways to boost your freelance career in the Philippines? While freelancing offers flexibility and autonomy, it often comes with hidden costs and an unpredictable income. The average salary of a freelancer in the Philippines may not be enough to cover basic expenses, leaving many in a tight financial situation.

But fear not! Loans for the self-employed are a necessary thing in the Philippines, and can help you cover unexpected expenses, invest in professional development, and bridge cash flow gaps during periods of low demand.

As a freelancer in the Philippines, you may need a loan to upgrade your equipment and software, promote your services, or cover personal emergencies like medical bills or car repairs. You may also need a loan to stay competitive in your industry by investing in your professional development.

But where can you find the best loan options for freelancers in the Philippines? Look no further! In this article, we’ll show you how and where to get a loan online for freelancers in the Philippines, so you can take your freelance career to the next level.

Discover Credit Options for Freelancers in the Philippines

Are you a freelancer in the Philippines seeking credit options? You’re in luck! Various financial institutions offer personal loans and credit cards that can meet your financial needs, even if they are not exclusively tailored for freelancers.

Here are some examples of loans that can be advantageous for freelancers:

  • Personal Loans: Obtain a personal loan without collateral and enjoy flexible repayment options, specifically designed for freelancers.
  • Business Loans: Apply for a business loan to finance your registered business’s operations or expansion plans.
  • Salary Loans: Receive higher loan amounts and longer repayment terms with a salary loan that caters to freelancers who have a steady source of income from their clients.
  • Credit Cards: Explore credit cards that provide rewards programs and benefits that can offset business expenses.

To apply for a loan as a freelancer in the Philippines, simply fill out an application with a bank or loan app. Keep in mind that the availability and terms of these credit options may vary depending on the lender and your financial situation.

How to Improve Your Chances of Getting a Loan as a Freelancer?

As a freelancer, you may face challenges when applying for loans. However, there are steps you can take to improve your chances of approval. One effective way is to legitimize your freelance status by registering your business.

To do so, you should apply for the following:

  1. DTI Registration: Register with the Department of Trade and Industry to secure a certificate that confirms your business name and legal personality.
  2. Business Permit/Mayor’s Permit: Obtain a permit from your local government unit to operate your business legally.
  3. BIR Registration: Register with the Bureau of Internal Revenue to secure a taxpayer identification number (TIN) and pay taxes.

Having these documents will demonstrate to loan companies and banks that you are a legitimate business and a reliable borrower. It will also help establish your creditworthiness and improve your chances of getting approved for a loan.

In addition, maintaining a good credit score, keeping accurate financial records, and showcasing a stable income stream can further boost your chances of loan approval as a freelancer.

Register as a Taxpayer and File Your ITR

If you are a freelancer, it is essential to register as a taxpayer with the Bureau of Internal Revenue (BIR) and file your Income Tax Return (ITR) annually. This is because, unlike employees who can easily provide payslips as proof of their income, freelancers need to submit their ITR to demonstrate their earnings.

Your ITR is a document that shows your total income, deductions, and tax payments for the year. Filing your ITR regularly also helps you establish a good credit history and shows lenders that you are financially responsible.

Before you can file your ITR, you need to register your business with the BIR and obtain a taxpayer identification number (TIN). You can do this by submitting the necessary documents, such as your DTI registration, business permit, and other relevant papers.

You can prepare and file your ITR yourself or hire an accountant to do it for you. Make sure to keep accurate financial records and file your taxes on time to avoid penalties and legal issues. By registering as a taxpayer and filing your ITR, you can legitimize your freelance status and improve your chances of securing loans and other financial opportunities.

Get Recognized by Getting A Business Permit

In addition to registering with the BIR, obtaining a business permit is crucial for freelancers who want to legitimize their business and improve their chances of securing loans and other financial opportunities.

A business permit, also known as a Mayor’s Permit, is a document issued by the local government unit (LGU) that officially recognizes your business as legitimate and operating within the bounds of the law. It is usually obtained from the city or municipal hall where your business is located.

To obtain a business permit, you need to submit the necessary requirements, which may include your DTI registration, tax identification number, barangay clearance, and other relevant documents. The process and requirements may vary depending on the LGU, so it’s best to inquire at your local city or municipal hall.

It’s important to note that you need to renew your business permit annually. Failure to do so may result in penalties and legal issues. Having a valid business permit shows lenders and other financial institutions that you are a legitimate business and a responsible borrower.

Prepare Your Supporting Financial Documents

Preparing your supporting financial documents is essential when applying for a loan as a freelancer. These documents will help lenders evaluate your financial standing and determine your eligibility for the loan.

Here are some of the key financial documents you need to prepare:

  1. Bank statements for the past six months – This document shows your bank transactions and proves that you have an active bank account. It gives lenders an idea of your financial activity, including your income and expenses.
  2. Certificate of employment from clients – If you have clients, you can request a certificate of employment from them to prove that you are earning money. This certificate should contain your employment status, the nature of your work, and your compensation.
  3. Income Tax Return (ITR) – As a freelancer, you cannot get a certificate of earnings from an employer. Instead, you must present your BIR ITR document, which shows your total income, deductions, and tax payments for the year. This document provides lenders with an accurate picture of your income and financial status.

Other documents that may be required include your DTI registration, business permit, and other relevant papers. Make sure to keep your financial records accurate and up-to-date to ensure a smooth loan application process.

Show proof of capacity to pay

Showing proof of your capacity to pay is crucial when applying for a loan as a freelancer. Lenders want to ensure that you have the ability to repay the loan on time and in full. Here are some ways to show proof of your capacity to pay:

  1. Income statements – As a freelancer, you can provide your income statements from the past months or years. This document shows your income and expenses, giving lenders a clear picture of your financial standing.
  2. Bank statements – Lenders may also ask for your bank statements to check your financial activity and ensure that you have enough cash flow to pay off the loan.
  3. Contracts or agreements – If you have long-term clients or contracts, you can provide them as proof of your steady income stream.
  4. Collateral – If you have assets such as a car or a property, you can offer them as collateral to secure the loan.
  5. Guarantor – If you have someone who can guarantee your loan, such as a co-borrower or a co-signer, it can improve your chances of getting approved for a loan.

Overall, showing proof of your capacity to pay is essential when applying for a loan. Make sure to gather all necessary documents and present them accurately to improve your chances of getting approved.

Maintain a Good Credit Score

Maintaining a good credit score is crucial when applying for a loan as a freelancer. A credit score is a numerical representation of a person’s creditworthiness and is calculated based on their credit history. Here are some tips to maintain a good credit score:

  1. Pay your bills on time – Late payments can negatively impact your credit score. Make sure to pay your bills on time, including credit card bills, loans, and utilities.
  2. Keep your credit utilization low – Lenders like to see that you’re using credit responsibly. Keep your credit utilization ratio, which is the amount of credit you’re using compared to your credit limit, below 30%.
  3. Monitor your credit report – Regularly check your credit report for errors and inaccuracies. If you find any, report them to the credit bureau immediately.
  4. Avoid opening too many credit accounts – Applying for too many credit accounts at once can lower your credit score. Only apply for credit when you need it and make sure to pay it off on time.
  5. Maintain a long credit history – Lenders like to see that you have a long and stable credit history. Avoid closing old credit accounts, even if you don’t use them regularly.

Overall, maintaining a good credit score is crucial when applying for a loan. It shows lenders that you’re responsible with credit and can increase your chances of getting approved for a loan.

Look for the right banks

To increase your chances of getting a loan online, it’s important to research and compare different banks and lending institutions that offer freelancer loans. Look for those that have a good reputation, reasonable interest rates, and favorable terms and conditions. You can also check if they have special programs or offerings that cater specifically to freelancers. Don’t be afraid to ask questions and clarify any concerns you may have before submitting your application.

Companies offering Personal loans for Freelancers

If you’re a freelancer in the Philippines and in need of financial assistance, personal loans can be a viable option. Several top banks in the country, including BDO, BPI, Metrobank, Security Bank, and Citibank offer such loans, each with their own unique terms and conditions.

One of the most accessible options is BPI. The bank’s online application process allows you to apply from the comfort of your own home, and if you meet their salary requirements, you won’t need to upload any additional documents. Approval can take as little as five days.

Citibank is another popular choice, with loans up to 2 million PHP available. Applying for a personal loan from Citibank is straightforward, with just a few necessary documents, such as the loan form, identification cards, and BIR docs.

Lastly, Security Bank also offers loans of up to 2 million PHP, but they do require a DTI certificate of your business. The interest rate is 30% per year, which is comparable to other loan providers in the market.

Regardless of which bank you choose, it’s essential to research and compare their offerings to determine the best fit for your needs.

In addition to banks, there are also online lending platforms such as Cashalo, Tala, and Digido that offer personal loans for freelancers. However, it is important to do your research and compare the interest rates and terms and conditions of different lenders before making a decision.

Opt for Unsecured Loans From a reputable Financial Institution

Choosing unsecured loans from a reputable financial institution or reliable online lending platforms is a wise move when it comes to taking out a loan. While private loan apps may appear to be an easy solution, they are different from traditional banks, and there is a risk involved in dealing with them. The documentation requirements for private loan apps are often more lenient, and the approval process is faster with no collateral requirements. This makes it easier for freelancers and individuals with less-than-perfect credit scores to obtain a loan.

Fast loans with simplified application processes are also available from reliable lenders, with funds being deposited into the borrower’s account promptly. However, it is crucial to be cautious when selecting an online lending platform or financial institution to ensure that it is trustworthy and credible.

Comparison of Lenders Providing Quick Online Loans for Freelancers

Personal Loan Provider Features and Requirements


Digido is an excellent option for those seeking a secure and efficient loan application process. With Digido, first-time borrowers can apply for a maximum loan of ₱10,000, while second-time borrowers can receive up to ₱25,000. Additionally, the application process is incredibly swift, and approval is granted promptly.

What’s more, Digido offers an interest-free period of seven days, making it an affordable option for those who require a quick cash infusion. Applying online adds to the convenience of this service, making it an excellent choice for anyone in need of a hassle-free and efficient borrowing experience.



Tala App is a convenient solution for those seeking a fast loan of up to ₱25,000 at competitive interest rates. With Tala App, borrowers can easily access the funds they need without the inconvenience of visiting a physical lending institution. The loan application process is streamlined and efficient, ensuring that applicants receive a decision quickly.

Tala App offers low-interest rates, making it an affordable option for those who require short-term financial assistance. If you are looking for a fast and accessible lending solution, Tala App is an excellent choice.


Juan Hand

Juan Hand offers flexible payment terms of up to three months, making it an attractive option for borrowers who require a longer repayment period. The lending platform provides loans of up to ₱15,000 to help borrowers address their financial needs.

The payout process is also made convenient, with options for payout available through various channels such as 7-11, PayMaya, and other apps. With its flexible payment terms, accessible loan amounts, and convenient payout options, Juan Hand is an excellent choice for those seeking a reliable lending solution.


One effective way to improve credit history is by taking out loans from private lenders and ensuring timely repayment. This practice can benefit freelancers and individuals who may not have a strong credit history, as it can help build credibility and demonstrate their ability to manage debt responsibly.

By consistently repaying loans on time, borrowers can increase their credit score and improve their chances of being approved for loans from other financial institutions in the future. Taking advantage of this opportunity can be a strategic move to strengthen one’s financial standing and access better loan options in the long run.

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