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This is to inform the public that AND Financing Corporation doing business under the name and style “etomo” (formerly “LendPinoy”) is NOT IN ANY WAY connected or affiliated with the “LendPinoy” app currently found and downloadable in Google Playstore.

Please be informed that AND Financing Corporation is no longer using the trade name “LendPinoy” in doing business, but it DID NOT authorize the developers of this “LendPinoy” mobile app to use the “LendPinoy” trade name, which the company still owns.

Any and all attempts of the developer of this “LendPinoy” mobile app to associate itself with AND Financing Corporation is UNAUTHORIZED and FRAUDULENT. Hence, we strongly urge the public to not in any way access or deal with this mobile app.

Please refer to our Facebook page to know more about it.

7 Common Mistakes to Avoid When Using Loan Apps

Loan apps have revolutionized borrowing in the Philippines, offering convenience and speed like never before. However, as with any financial tool, it’s crucial to use them wisely. To help you make the most of loan apps, we’ve compiled a list of common mistakes to steer clear of. Let’s dive in and ensure your experience with app loans is positive and financially sound.

1. Borrowing Without a Plan:

Mistake: Applying for a loan without a clear purpose or repayment plan.

Solution: Before using a loan app, outline why you need the funds and create a budget for repayment.

2. Ignoring Terms and Fees:

Mistake: Not fully understanding the interest rates, repayment terms, and fees.

Solution: Carefully read and comprehend the terms and conditions, ensuring no surprises later.

3. Overborrowing:

Mistake: Borrowing more than you can comfortably repay.

Solution: Calculate your repayment capacity and borrow only what you need.

4. Missing Repayments:

Mistake: Not making timely repayments.

Solution: Set reminders for repayment dates and ensure funds are available to avoid penalties.

5. Disregarding Credit Score:

Mistake: Assuming credit scores don’t matter for loan apps.

Solution: Maintain a good credit score to secure better interest rates and higher loan limits.

6. Not Reading the Fine Print:

Mistake: Skipping over the loan agreement details.

Solution: Read the fine print to understand the terms, penalties, and repayment structure.

7. Using Loans for Non-Essential Expenses:

Mistake: Using loan funds for luxury items or non-essential expenses.

Solution: Reserve loans for emergencies or important financial needs.

While loan apps offer convenience and accessibility, avoiding these common mistakes is essential for a positive borrowing experience. By staying informed, planning your finances, and using these apps responsibly, you can harness the benefits of app loans while safeguarding your financial well-being. Remember, a well-informed borrower is a wise borrower.

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