FAQs | Salary Loan

Frequently Asked Questions

Why should my company partner with QLO?

QLO is a cost-free and risk-free salary loan facility that companies can use to augment employee benefits. QLO provides employees quick access to cash to address urgent financial needs.

How can QLO help my company?

QLO helps companies to provide additional benefits to their personnel, to enhance employee retention and productivity.
QLO also allows companies to focus and channel more resources to their core business.

Can all companies partner with QLO?

To be a partner, the company must be duly registered with DTI or SEC and have at least 200 regular employees.

What are the requirements needed for the company to be accredited?

Here are the requirements for accreditation.

  • DTI/SEC Certificate of Registration
  • Articles of Incorporation and By-Laws / Articles of Partnership and By-Laws
  • General Information Sheet (GIS), if applicable
  • Latest Audited Financial Statement (AFS) / Income Tax Return (ITR) with BIR or bank stamp
  • Secretary’s Certificate or Board Resolution on Authorized Representative/s
  • Accomplished Company Information Sheet (CIS) and Signature Card (SigCard)
  • Valid IDs of Authorized Representative/s

If you have any questions, please feel free to contact us on the following:

Landline: +63 2 571 2518
Email: info@qlo.com.ph

Does QLO partner with companies with offices and employees are based outside Metro Manila?

Yes, we can partner with companies whose offices and employees are outside Metro Manila.

How can an employee apply for a QLO salary loan?

Your company must first be an accredited partner of QLO and you must be enrolled in the system. Once enrolled, the employee may apply for a salary loan through QLO online or through the mobile app.

My company is not yet accredited, can I refer my employer?

Yes, please email info@qlo.com.ph the name and address of your company, name of your HR Head, his/her official title, email address and contact numbers; and we shall get in touch with them.

How can the employee qualify for a loan?

Only employees of partner companies may apply for QLO. To qualify for loan, he or she:

  • Must be reporting as a full-time regular employee of the company.
  • Must be employed for at least 6 months with the company.
  • Must be 18 to 64 years old upon loan approval.
  • Must have no pending resignation, retirement or separation.
  • Should not be under any disciplinary action or pending administrative case at the time of loan application.
What are the requirements to apply for a loan?

We require very minimal documents for loan application, you just need to upload the following documents in the QLO app

  • At least one (1) government-issued valid ID.
  • Company ID or COE
  • Two (2) latest pay slips
  • Three (3) specimen signatures in a clear white background
  • Some requirements may be waived or added depending on the company’s nature of business.
How much is the minimum and maximum amount QLO can grant?

Our standard loan amount ranges from Php 10,000 up to 1 month salary, but not over Php 100,000.

What are the available payment terms?

QLO offers flexible payments terms from 3, 6, 9 up to 12 months.

Is there a processing fee when availing of a salary loan?

Yes, there is a processing fee, which will be deducted from the loan proceeds to be received by the employee-borrower. Processing fee will depend on the industry and market trends. QLO offers one of the lowest processing fees in the market.

What is the interest rate when availing of a salary loan?

QLO’s interest rates are customized for each company.You may get in touch with your HR department to get the rates applicable to your company.

How will the employees receive the loan proceeds?

The loan proceeds shall be remitted through the employee’s payroll bank account.

How do we get the amount to be paid per payment cut-off?

For employees: The borrower’s dashboard on the QLO app will show your upcoming payment dues as well as your payment history.

For employers: the amount to be paid and your payment due dates will all appear on the employer’s dashboard. In addition, a billing statement will be automatically sent to your registered email address for easier reference.

Can the company download the billing statement from the QLO app?

For employees: In lieu of a billing statement, employee-borrowers may view their payment history and upcoming payment due dates through their personal dashboard.
For employers: Yes, the billing statement and its breakdown may be viewed and downloaded from the app. 15 days before the payroll date.

Does the employee need a co-guarantor, co-maker, or co-borrower to apply for loan?

The employee doesn’t need a co-borrower, co-maker, nor co-guarantor to apply for loan. The loanable amount will solely depend on your monthly income and capacity to pay.

How will the employees pay their salary loan?

Settlement of loan will be conveniently done via salary deduction.

Can an employee apply for a loan even if he/she has a history of unpaid credit card or loan with another financial institution?

Yes, QLO bases its decision on the endorsement of the employer and not dependent on the negative credit record.

Can an employee re-apply for a loan if his/her loan application is declined?

Yes, an employee may re-apply for a loan one (1) month after.

Can an employee re-apply for a loan if his/her loan application is returned?

Yes, the employee just needs to comply with the additional requirements needed by QLO. Once complied, the employee may then re-submit his/her application.

Can an employee apply for a loan while his/her current loan is ongoing?

The ongoing loan must be settled first before an employee to avail another loan.

What other benefits from QLO can an employee enjoy if he/she avails a loan?

QLO borrowers, with at least P15,000 loan amount, get free personal accident insurance.

How can an employee qualify for the free Personal Accident Life Insurance offer of QLO?

Borrowers with at least Php 15,000 loan amount are automatically qualified for Personal Accident Life Insurance amounting to Php 20,000 valid for 1 year. This covers all occupations, except military or police in combatant duties.

Who will be the beneficiary of the free Personal Accident Life Insurance offer of QLO?

The beneficiary of the free Personal Accident Life Insurance that QLO offers will be the borrower’s immediate family members.