If you want to get ahead in the modern world you need a sound foundation in business and finance.
That's where we come in at CMT Corp. We give you the answers to the business questions that you didn't even know you had. Together we will achieve all our financial goals.

Sincerely yours,
CMT Team

What is an Emergency Loan

All of us have aspirations in life, which some of you may refer to as life goals.

Sadly, life—as we know it—could also get in the way. Accidents can occur; a string of bad luck may happen; and emergencies could be right around the corner. The thing is, nothing could really prepare us when these suddenly strike down our carefully prepared life schedule.

Emergency Loan

Your savings might not even be enough to cover their costs so, when you need cash, you might turn to financial service providers to get an emergency loan.

Of course, there’s nothing wrong with getting a loan especially when you need one. But it is best to be knowledgeable about it.

What is an emergency loan?

As the name suggests, this loan is used to cover the cost of an emergency—an unexpected event that requires your utmost attention and some serious cash.

Other kinds of loan may ask for a collateral; but for those who are getting an emergency loan, you don’t usually need one. It is important to note, however, that the lender will still be checking your credit score and your capability to pay off the loan every month.

Essentially, there are two kinds of lenders you may choose from: a government agency or a private emergency direct lender. In the Philippines, the Government Service Insurance System (GSIS) is your best bet for a government agency to provide you an emergency loan. But if you are trying to get a loan from a private sector, it is best to check your bank’s rate and compare it to others.

What are the reasons you may need an emergency loan? 

There are many possible reasons for you to need an emergency loan. They are as follows:

  • Natural Disasters – These often include property damages caused by floods, storms, and earthquake. In order to fix your home, you may need an emergency loan.
  • Medical Bills – Medical bills can cost you a lot, especially if they are unexpected. You can get an emergency loan to help settle some of them.
  • Job Loss – Naturally, an unexpected job loss will cause you to lose your source of income. This means that you need an emergency loan to cover all your expenses until you find a new job.
  • Debt Consolidation – Unpaid credit card bills could cause your debt to pile up, which may lead to an amount you can’t pay off immediately. Emergency loans should be able to assist you in paying them off.

What are the documents you need to get an emergency loan?

Different lenders may require you to submit different kinds of documents. But, generally, they would ask you to submit the following:

  • Government IDs (HUMID, Voters ID, Postal ID, Passport, etc.)
  • Copy of proof of billing (Water, Electricity, and Phone Bills)
  • Copy of proof of income (Income Statement, Certificate of Compensation, Certificate of Employment, or Payslip)

For those planning to get an emergency loan through a government agency, present a copy of your contributions to GSIS or SSS (Social Security System).


Getting an emergency loan could provide you assistance to take care of an unexpected life event. Ultimately, this will gain you easy access to money and the flexibility to go on your life (mostly) uninterrupted.