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A personal loan is money borrowed from a lender that can be used for nearly any purpose, including paying off debt, financing a large purchase such as a vehicle or a boat, or covering the cost of a major expense like a wedding or vacation.
Today, the easiest way to get a loan is to apply for a loan online using mobile applications. Today there is a large list of companies that have developed their own application for lending. However, not all companies are legal. Check out the illegal lending apps philippines before applying for a loan.
Once you receive the cash, you must make payments until the debt has been fully repaid.