1. Overview
This Loan Agreement (“Agreement”) governs the terms and conditions of the loan services provided through the Wise Peso mobile application (“App”). By submitting a loan application through the App, you (“Borrower”) acknowledge that you have read, understood, and unconditionally accept all the terms and conditions set forth in this Agreement.
Lending Entity: Sumulong Financing Inc.
SEC Registration Number: CS201915712
Lending License Number: 1238
Registered Address: 29 Bagong Silang St., Tuktukan, Taguig, Metro Manila, 1637 Philippines
Platform Operator: The Wise Peso application is operated Sumulong Financing Inc.
Wise Peso is the official digital platform of the above-named corporation, a legitimate financing institution regulated by the Securities and Exchange Commission (SEC) of the Republic of the Philippines. Our operations comply with all applicable lending laws and regulations.
Principal Amount: The exact loan amount approved and provided to the Borrower will be clearly displayed within the App for final confirmation by the Borrower prior to disbursement.
Interest: The loan shall accrue interest at the rate explicitly stated in the loan offer and summary provided within the App.
Repayment Term: The Borrower agrees to repay the full loan amount, including all applicable fees, within the period stipulated in the loan contract.
Repayment Method: Repayment shall be made through the payment methods available within the App, which may include bank transfers, online payment channels, or other authorized methods.
Loan Amount Range: ₱2,000 to ₱50,000.00
Loan Term Range: 91 days to 180 days
Maximum Annual Percentage Rate (APR): 8% – 20%
Illustrative Example:
Loan Principal: ₱2,000.00
Term: 91 days
APR: 8%
Interest: ≈ ₱39.89
Total Amount Due at Maturity: ≈ ₱2,039.89
(Note: The above example is for illustrative purposes only. The actual terms shall be specified in your individual loan contract.)
5. Borrower’s Responsibilities
The Borrower agrees to:
Provide complete, truthful, and accurate personal and financial information.
Repay the principal, interest, and any lawful fees on or before the due date.
Promptly notify Wise Peso of any changes in contact details (phone, email, address) or financial circumstances.
6. Late Payment Charges
Failure to pay the full amount by the due date will result in the imposition of late payment penalties at the rate specified in your loan contract. Additionally, the Lender may undertake measures including, but not limited to: suspension of future loan services, reporting of delinquent accounts to accredited credit information bureaus, and lawful collection activities. Continuous default may result in legal action.
By using the Wise Peso App and services, the Borrower expressly consents to the collection, use, processing, and storage of their personal and financial data by the Lender in accordance with the Wise Peso Privacy Policy, which is incorporated herein by reference.
The Borrower acknowledges that obtaining a loan is a financial responsibility. The Borrower is solely responsible for assessing their own ability to repay before accepting any loan offer. The Borrower understands that failure to repay the loan may adversely affect their credit standing and may result in further consequences as described in this Agreement.
For questions, concerns, or requests regarding your loan or this Agreement, please contact our Customer Support:
Email: support@wisefundfinancecorporation.com