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SMARTLoan
SMARTLoan, in cooperation with SMART Communications is a service that provides instant eload loans to Smart Buddy Load Distributor or Retailers. Qualified Retailers will be able to access the service through a menu in their mobile units. In order to qualify for the program, a retailer must fit the following criteria:
- Must be a SMART Buddy Load Retailer for at least 6 months
- Must have a SMART Money Account
- Must have a permanent working address
- Must reload a minimum of 3x a week in the last 6 months
- Must have an average sales of 800/day in the past 6 months
The loan amounts are available in 100, 300, 500, 1000, and 1500 denominations. Starting from an initial credit limit of 100, a borrower will be upgraded to higher levels after successful payments of previous loans.
| Tier |
Credit Limit |
| Initial |
100 |
| Bronze |
300 |
| Silver |
500 |
| Gold |
1000 |
| Platinum |
1500 |
Only one loan at a time, the service requires that the borrower to pay back the loans within 48 hours and is charged a fee for the transaction. Late payments will incur additional penalty fees and may result in expulsion from the program.
The fees to the program are as follows:
| Denomination |
Rate |
Service Fee |
Service Fee
+ Amount |
| 100 |
3.5% |
P3.50 |
P103.50 |
| 100 |
6% |
P6.00 |
P106.00 |
| 300 |
3.5% |
P10.50 |
P310.50 |
| 300 |
6% |
P18.00 |
P318.00 |
| 500 |
3.5% |
P17.50 |
P517.50 |
| 500 |
6% |
P30.00 |
P530.00 |
| 1000 |
3.5% |
P35.00 |
P1,035.00 |
| 1000 |
6% |
P60.00 |
P1,060.00 |
| 1500 |
3.5% |
P52.50 |
P1,552.50 |
| 1500 |
6% |
P90.00 |
P1,590.00 |
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Form 1