What is M Lhuillier?
M Lhuillier is a non-bank financial services provider in the Philippines that was established in the 1980s. The company now operates with more than 3,000 branches nationwide, making it the largest network of pawnshops in the country. Aside from pawning services, M Lhuillier offers a wide range of financial services including money remittance, foreign exchange, loans, insurance, and bills payment.
M Lhuillier quick cash loan, how does it work?
M Lhuillier offers cash loans to its clients through its Quick Cash program. The way it works is that you bring the item you want to pawn to any branch. The pawnbroker will appraise the item and will offer you a loan amount based on the value of the time.
If you accept the loan, you'll sign a contract and receive the money. You’ll be given a pawn ticket, which you’ll need when you redeem your item. You'll have a set period of time to repay the loan, plus interest. Essentially, you’re using your item as collateral for the loan.
What’s great with M Lhuillier is that the collateral is not limited to jewelry. It could be any item of value, such as laptops, MacBooks, tablets, cameras, home appliances, power tools, silverware, musical instruments, medical equipment, Ray-Bans, watches, motorcycle, and even car.
Pawning an item can be a quick and easy way to get cash when you need it. Instead of selling an item that you’re not ready to let go of yet, you can just pawn and redeem it when you have the funds to pay back the loan in full.
How much does M Lhuillier loans?
The amount of money that M Lhuillier loans depends on the appraisal of the item. The appraisers at M Lhuillier are experienced and will fairly assess the value of the item being pawned. They will take into account the condition of the item and its market value.
M Lhuillier loan interest rate
The interest rate for the M Lhuillier fast loan program is 3% per month. M Lhuillier also charges a service fee that is 1% of the principal amount. However, this should not exceed PHP5. So, it’s really a minimal fee that shouldn’t deter you from availing the cash loan offer. Also, the interest and service charge will not be deducted in the first month, so you’ll get your money in full.
Is M Lhuillier loan legit?
Yes. M Lhuillier is registered with the Philippine Securities and Exchange Commission (SEC) under the name Michel Jones Lhuillier Financial Corporation. It has a Certificate of Authority to operate as a financing company.
M Lhuillier is part of the M Lhuillier Group of Companies, which is a well-trusted company that has ventured into different businesses with the aim to reach more Filipino families in the country and overseas and provide excellent service.
How long does it take for the money to arrive?
The release of funds is immediate once you agree to the appraised value of your item. You just need to fill up a form and sign the contract. It’s the quickest way to get a cash loan if you know the value of your item.
M Lhuillier loan benefits
M Lhuillier is known for its quick and easy pawning and loan application process. You can simply go to any M Lhuillier branch and apply for a loan and have the cash on the spot.
M Lhuillier loan requirements are minimal. You will just need to present some ID and fill out a form. Then, you can leave your valuables with them in exchange for cash. The release of funds is instant, so you won't have to wait long to get your hands on the money you need.
How to apply for an M Lhuillier loan?
To apply for a loan in M Lhuillier, you will need to do the following:
Bring the item that you’ll use as collateral.
The personnel will appraise the item and offer you a fair price for it. You can accept or decline the offer.
If you are happy with the amount, fill out the required form and then submit it to the personnel.
Surrender your item.
Get your money and the pawnticket. Make sure not to lose the pawnticket as you will need this to redeem your item or renew/extend the loan.
M Lhuillier personal loan requirements
Must have a valid ID (e.g., government-issued ID such as passport, driver’s license, SSS, UMID, etc.)
Must bring the item for appraisal
Must fill out the form
This also applies to M Lhuillier business loan requirements, designed for small and medium enterprises.
M Lhuillier has a loan calculator sample computation for Quick Loan in their website. You’ll have an idea of how much you need to pay to renew the loan or to redeem your item within the specified time period.
How to pay for the M Lhuillier loan?
You can pay your loan and redeem your item at the M Lhuillier branch you transacted business with. Don’t forget to bring your pawnticket. You can search for the branch nearest you using this search tool .
What happens if I can’t pay?
If you are not able to repay the minimum or full amount of your loan, M Lhuillier will keep your item. You have 90 days from the maturity date to redeem your item, after which your item will be auctioned off.
If you can’t pay for the full amount, you have the option to renew the loan. This means that you pay the interest that is due and you extend the life of the loan for another 30 days.
M Lhuillier App
M Lhuillier's Quick Cash Loan doesn't have a dedicated app. However, you can download the ML Wallet app, which you can use for other transactions, such as sending and receiving money, paying bills, buying e-load, and purchasing items from partner merchants. The app can be used in Android and iOS devices. It’s available for download at the Google Play Store and Apple App Store.
M Lhuillier Loan, customer service
Email address: email@example.com
B. Benedicto Street North Reclamation Area
Cebu City, Cebu 6000, PH
Makati Head Office
108 Valero, Salcedo Village, Makati, Metro Manila, PH
M Lhuillier Loan, reviews
M Lhuillier is a reputable pawnshop and remittance center that serves Filipinos who are unbanked and typically have no access to funds in times of emergencies. With the M Lhuillier Quick Cash Loan program, more and more people are finding that they can get loans using their valuable items as collateral. This is something that separates M Lhuillier apart from other pawnshops. The collateral doesn’t have to be your house, car, or a property. It can be items stashed at home that have value. This is something that regular folks can manage to do with ease.
The fast payout and the minimal requirements make M Lhuillier’s Quick Cash loan a viable option for borrowers who are in a bind and need funds fast. With low interest rates and uncomplicated process, it’s no wonder that M Lhuillier is on top of its game when it comes to loans, pawning, and other financial services.
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