Fastest Ways to Borrow Money in times of Emergency


Are you in need of cash but hesitant to visit a bank?

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For some, borrowing money from a bank is too much hassle. Filling out the form, submitting the documents, and waiting for approval make it more complicated. But if visiting a bank can be an effort for you, why not try borrowing money from different lenders near you?

Emergency Loan

An emergency Loan is categorized as an unsecured personal loan where collaterals are no longer needed when applying for this type of Loan. An emergency loan can cover the costs of your unexpected expenses like a broken home caused by calamity, the sudden demise of a loved one, or a family member is admitted to a hospital.

Where to Borrow Money

From Government Agencies

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In times of emergency or if your area was declared under a state of calamity, SSS, GSIS, and Pag-Ibig offer assistance to its consistent contributors.The benefit of applying for an Emergency Loan or Calamity Loan in these Government Agencies is that they provide longer repayment conditions with lower interest rates.

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From Employer

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Some employers offer emergency loans to their employees especially in times of calamity, family, or personal matters. This type of loan often has an interest and usually deducted through every payday or 13th-month pay.

Note: If you have a copy of your job contract, re-check it and talk to your HR (Human Resource Department) if applying for a Loan is part of the company’s benefit.

Pawning or Pawnshop

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Going to a Pawnshop is the fastest way to get money.Pawning is where a customer deposits a valuable item to the pawnshop in exchange for money. Valuable items are jewelry and gadgets. The interest rate is usually 1%. However, depositing your valuable item to a pawnshop can be risky because if you fail to repay according to your terms of payment, they will possess your item.

How to Pawn?

  1. Visit any pawnshop branch near you and present your item.
  2. Advise the pawnshop personnel if you agree with the appraised value and net proceeds.
  3. Sign the agreement. Be sure to check them thoroughly.
  4. Check the money received and secure the pawn receipt, which is required to be presented during renewal or redemption of the pawned item.

Remittance Center

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Did you know that you do not only transfer and receive money from your loved ones to remittance centers?You can also apply for their available loans like Micro Loan, Auto Upgrade Loan, and Appliance Loan.

Below are just the few remittance centers that offer emergency loan:

USSC Service Store (by Western Union)

USSC is a one-stop-shop for its customer as they have a wide range of services like Money Transfer, Budget Insurance, Cash Cards, Money Changer, and Lender. USSC offers Appliance Loan, Business Loan, Auto Loan, and Auto Upgrade Loan.

Relatives and Friends

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Asking for financial help from a relative or friend is a very common thing among Pinoys. Usually, family members or friends will let you borrow money without interest and the payment schedule is too flexible. However, if you borrow from your neighborhood, interest can be more than 10% of the total borrowed money.

Final Thoughts

Borrowing money especially in times of emergency will remove all your shyness in the body. Remember that there are plenty of ways to borrow money without going to a bank and waiting for long lines. Just visit any Government Agencies, your Employer, Remittance Center, or your Relatives and figure out which lender will help meet your emergency needs.

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