Tomo loan is a financial service platform developed by AND Financing Corporation, a company dedicated to providing microloans in the Philippines via a mobile app. Launched in December 2018, Tomo utilizes AI-based credit scoring and innovative technologies to serve the underbanked and underserved populations.
Is Tomo SEC Registered?
Yes, Tomo operates under AND Financing Corporation, which is duly registered with the Securities and Exchange Commission (SEC) in the Philippines. The company holds SEC Registration No. CS201840930 and Certificate of Authority No. 1187, ensuring its legitimacy and compliance with Philippine financial regulations.
Advantages of Tomo
Tomo offers several benefits to its users:
- Quick Approval: Loan applications are processed swiftly, with disbursements made in less than a minute upon approval.
- Flexible Loan Terms: Borrowers can choose from various loan terms, including single-payment loans with a 30-day duration and term loans ranging from 90 to 180 days.
- Transparent Fees: Tomo maintains a transparent fee structure with no hidden charges, ensuring borrowers are fully aware of their financial commitments.
- User-Friendly Application: The mobile app is designed for ease of use, allowing users to manage their finances anytime, anywhere.
Eligibility Criteria for Tomo
To qualify for a loan with Tomo, applicants must meet the following criteria:
- Employment: Currently employed for at least six months.
- Residency: Living in Metro Manila, Cavite, Laguna, Rizal, or Bulacan.
- Income: Earning a minimum monthly salary of ₱15,000.
- Age: At least 21 years old.
- Identification: Possess a valid government-issued ID and an SSS number.
How to Apply for a Tomo Loan?
Applying for a loan with Tomo is straightforward:
- Download the App: Install the Tomo app from the Google Play Store or Apple App Store.
- Create an Account: Register using your mobile number and create a secure password.
- Complete the Application: Provide personal, employment, and financial information as required.
- Submit Requirements: Upload a valid government-issued ID and other necessary documents.
- Await Approval: The Tomo team will assess your application and notify you of the decision.
Conclusion
Tomo stands out as a reliable and efficient loan provider in the Philippines, offering quick approvals, flexible terms, and a user-friendly platform. With its SEC registration and commitment to transparency, Tomo provides a trustworthy solution for those seeking financial assistance.
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