Bank Seaman Loan Vs Private Lenders Vs In-House Agency Lending

Seaman On Board

In an article written back in 2014 of August about seaman loan, it mentioned that aggressive approach has recently been implemented by different bank providers for personal loan for seafarers. In-house financing companies within the manning agencies have done the same. As the competition between these two new players in the non collateral loan industry in the Philippines get stiff and tight, private lending companies in the likes of Global Dominion, Asialink Finance Corporation and South Asialink Financing Company, Macondray, Alladdin, Progress, Infinite, EasyCash, Vidalia, Medillo, Metro Credit and the rest, new incentives were sometimes given to loan agents, consultants and duly accredited loan brokers. This is in lieu of providing a good income to these agents in exchange of the possibility that they will have their seaman loan applicants and clients get processed with them.

1 Hour Seaman Loan Approval and Loan Release - Is It Possible with BPI, BDO Bank or Private Lenders?

Seaman Loan 1 Hour Release?

In my 3 years of being a professional and qualified loan consultant for multiple top lending companies in the Philippines including banks like BPI and BDO as well as private lenders, I've proven that a 1 hour seaman loan approval and loan release is not possible. On the other hand, it would be much feasible to have a loan application by any maritime worker approved in probably 3-4 hours.