Complete Understanding
This Contract represents the full and exclusive understanding between the Parties concerning its subject matter, and it overrides and replaces any and all previous or contemporaneous agreements, discussions, statements, assurances, or arrangements—whether oral or written—relating to the same subject.
Duration of the Loan
The Loan Term refers to the duration during which the Borrower is obligated to repay the full principal amount of the Loan, along with any applicable interest, charges, and fees as detailed in the Disclosure Statement. This period may vary between ninety-one (91) and one hundred eighty (180) calendar days, subject to the approved Loan Decision and as stated in the corresponding Promissory Note.
Interest Charges
The Borrower agrees to pay interest to the Lender on the Loan amount until the full repayment is completed. Interest calculation and payment will follow the terms set forth in our app Cash Muna.
Interest will accumulate on a daily basis until the Loan reaches its Maturity Date. The applicable interest rate is determined on a case-by-case basis and specified in both the Promissory Note and the Disclosure Statement.
Purpose of the Loan
The Loan provided by Cash Muna must be utilized by the Borrower solely for lawful and legitimate activities. The funds disbursed through Cash Muna are intended exclusively for the Borrower's personal needs.
Amount of Loan
The Lender consents to provide, and the Borrower agrees to receive, the total Loan amount as determined in the Loan Decision, which is documented in both the Promissory Note and the Borrower's Personal Account.
Effective Period of the Loan Contract
Unless otherwise terminated by the Lender, this Loan Contract becomes effective on the date the funds are disbursed to the Borrower as outlined in the Promissory Note, and shall remain in force until all terms and conditions specified herein are fulfilled or otherwise agreed upon by the Parties.
Conditions Precedent for Disbursement of Loan Proceeds
The Loan funds will only be released once the following conditions have been satisfactorily met and approved by the Lender:
The Borrower has provided complete bank account information;
The Borrower's Personal Account includes an uploaded photo of the Borrower alongside a valid identity document;
The Loan Decision has been communicated to and confirmed by the Borrower either via SMS confirmation or verbal confirmation through a direct phone call.
After the Borrower's Loan Application has been approved by the Lender, the Borrower shall not have the right to cancel the Loan or refuse the disbursement of the Loan proceeds, except in cases where such refusal results in applicable cancellation, refusal, or prepayment fees as determined by the Lender. The Borrower acknowledges that the Lender retains full discretion to approve or deny any cancellation requests.
The Lender shall not be held liable for any disbursement errors caused by incorrect bank account details provided by the Borrower.
Additionally, the Lender will not be responsible for any delays or issues arising from the disbursement of Loan proceeds to third parties following written instructions from the Borrower.
Penalties and Charges for Late Payments
If the Borrower fails to make any payment due under the Loan by the Maturity Date, the Lender shall have the right to charge the Borrower, in addition to the outstanding balance, a one-time default penalty of PhP1,000 for new clients and PhP800 for returning clients. Furthermore, interest will accrue on the overdue amount at the following rates: 5% per day from the first (1st) day of delay up to the thirtieth (30th) day, 4% per day from the thirty-first (31st) day through the ninetieth (90th) day, and 2% per day from the ninety-first (91st) day until full repayment of the Loan.
Information Disclosure
The Borrower explicitly authorizes Cash Muna to disclose and share information related to the Borrower's account and loan, including this Contract and the Promissory Note, with the following parties at the Lender's sole discretion and as deemed necessary or appropriate:
(i) government agencies and authorities;
(ii) any individual or entity proposing or considering making payment towards or acquiring the Borrower's loan debt;
(iii) the Lender's auditors, legal counsel, or debt collection agencies;
(iv) credit bureaus and reporting entities;
(v) insurance firms, agents, contractors, or third-party service providers involved in delivering services or products to or by the Lender;
(vi) the Lender's holding company, head office, branches, subsidiaries, and affiliated companies;
(vii) for purposes related to product offerings or cross-selling.
The Borrower acknowledges that such information may be encrypted, transmitted, stored, and exchanged among the aforementioned parties as permitted under Philippine law. The Borrower releases the Lender from any liability arising from such disclosures and consents to these actions without requiring further approval.
In compliance with Republic Act No. 9510 and its Implementing Rules and Regulations, which established the Credit Information Corporation (CIC), the Lender is obliged to submit the Borrower's basic credit information—including updates or corrections—to the CIC and other accredited credit reporting agencies. This is to facilitate the assessment and establishment of the Borrower's creditworthiness.
Should the Borrower fail to fulfill the loan obligations in full, on time, or correctly, the Lender may report such default to third parties, including collection agencies, in addition to pursuing recovery actions under this Contract and Philippine law.
The Borrower further consents that the Lender and its Partners may collect, retrieve, process, use, and retain personal data such as name, age, photos, fingerprints, biometric identifiers (including facial and voice recognition), mobile numbers and usage data, employment details, income, financial profile, credit history, loan repayment records, and other application-related information. This data may be obtained directly from the Borrower or other personal data controllers such as telecom providers (e.g., Globe, PLDT, Smart, Sun Cellular) for credit evaluation purposes.
The Borrower's contact information (mobile number, email, address) may be shared with credit scoring service providers for credit investigation, scoring, data analysis, and profiling, which includes ongoing credit score updates. Such personal data may also be utilized for marketing products and services offered by the Lender's Partners.
Throughout the processing of personal data, the Borrower's rights under the Data Privacy Act of 2012—including the rights to be informed, to object, to access, to correct, to erase or block, and to seek damages—will be fully respected. Entities receiving the Borrower's data from the Lender will likewise honor these rights.
Borrower's Declarations and Obligations
The Borrower hereby continuously represents and warrants to the Lender that:
The obligations undertaken by the Borrower under this Contract, the Promissory Note, and any related documents are legal, valid, binding, and enforceable;
The Borrower's execution and performance of this Contract, the Promissory Note, and related documents do not conflict with any applicable laws or any agreements binding the Borrower;
No existing event of default exists or is reasonably expected to arise from the Loan disbursement;
The Borrower has fully disclosed to the Lender all material information, financial or otherwise, related to the Borrower and any relevant parties, which is accurate, complete, and not misleading at the time of disclosure;
The Borrower has read, understood, and agrees to comply with the terms and conditions of this Contract, the Promissory Note, and related documents;
The Borrower acknowledges the responsibility to repay the Loan fully, timely, and according to the Contract and Promissory Note;
The Borrower understands and accepts that the Lender has sole discretion to approve or reject the Loan Application and that submitted documents will remain with the Lender and will not be returned;
The Borrower acknowledges that the Loan Application is an offer subject to final approval based on the Lender's policies, and agrees not to challenge the Lender's decision regarding approval;
The Borrower unconditionally confirms indebtedness to the Lender for the approved Loan amount once disbursed.
During the Loan Term, the Borrower further agrees that:
Loan proceeds will be used solely for personal purposes, including but not limited to education, medical needs, emergencies, travel, household expenses, or similar personal uses;
The Borrower will comply with all applicable laws relevant to fulfilling obligations under this Contract, the Promissory Note, and related documents;
The Borrower will obtain and maintain any necessary permits, consents, or approvals to ensure the legality and enforceability of this Contract and related documents;
The Borrower will promptly notify the Lender in writing of any potential or actual Event of Default or any other default under agreements binding the Borrower, including steps taken to resolve such issues;
The Borrower will inform the Lender in writing of any changes to their name, date of birth, or residential address within three (3) calendar days of such changes;
The Borrower will notify the Lender of any change in employment, business, or profession. If self-employed, the Borrower agrees to regularly update the Lender on their financial status as requested.
Events Constituting Default
The following circumstances shall be considered as Events of Default:
The Borrower breaches or fails to fulfill any obligation, condition, or term outlined in this Loan Contract, the Promissory Note, or any related agreements between the Borrower and the Lender;
The Borrower neglects to pay, on or before the due date, any principal, interest, fees, or other charges owed to the Lender as stipulated in this Loan Contract and the Promissory Note;
Any statement, representation, or warranty made by the Borrower in connection with the Loan is found to be false, inaccurate, or misleading at the time it was given, regardless of whether the Lender suffered any prejudice due to such misrepresentation or failure;
A final judgment, decree, or court order demanding the payment of a substantial amount of money, damages, fines, or penalties is rendered against the Borrower by a court with jurisdiction and remains unpaid, unsatisfied, or unbonded within ten (10) calendar days from the payment due date under applicable law;
The Borrower passes away or is convicted with a final judgment involving a criminal offense that results in civil interdiction or any similar legal consequence under Article 1198 of the Civil Code of the Philippines;
There is a significant adverse change in the Borrower's financial situation or condition since the Loan was approved, which in the Lender's reasonable judgment impairs the Borrower's ability to meet obligations under this Loan Contract and the Promissory Note.
Consequences of Default
Upon the occurrence of an Event of Default:
The Lender may, at its sole discretion, declare the entire outstanding Loan amount immediately due and payable, demanding full repayment from the Borrower;
If the Event of Default is due to the Borrower's failure to pay on time, the penalties and fees outlined under the Article regarding Late Payment shall be applied;
The Lender retains all rights and remedies provided under the Promissory Note and applicable laws to enforce recovery of amounts owed by the Borrower.
To the fullest extent permitted by Philippine law, the Borrower waives any requirement for prior notice or formalities that would otherwise allow the Lender to exercise its rights arising from an Event of Default. Delay or omission by the Lender in exercising any right or remedy shall not constitute a waiver unless expressly confirmed in writing by the Lender, and only to the extent stated in such written waiver.
Review and Right to Demand Repayment
The Loan shall remain subject to periodic review by the Lender at its sole discretion and may be withdrawn or called for immediate repayment by the Lender at any time without prior notice. The Lender expressly reserves the unconditional right to exercise such withdrawal or repayment on demand whenever deemed necessary. Furthermore, the Lender holds the authority to reassess, amend, or update the Terms and Conditions of this Contract at any time at its exclusive discretion.
Governing Law and Jurisdiction
This Loan Contract and the Promissory Note of Cash Muna shall be governed by and construed in accordance with the laws of the Philippines. Any dispute, controversy, or claim arising from or related to this Loan Contract and the Promissory Note, including matters concerning their existence, validity, or termination, shall be subject to the exclusive jurisdiction of the competent courts in the Philippines.
Severability
If any provision of this Loan Contract or the Promissory Note is found to be invalid, illegal, or unenforceable under any applicable law, such invalidity shall not affect the remaining provisions of the contract, which shall remain in full force and effect. The invalid or unenforceable provision shall be deemed modified to the minimum extent necessary to make it valid and enforceable while preserving its intent.