PNB New York Branch's Nurses' Loan

A Loan Package for Filipino Nurses

Created especially for the Filipino Nurse in the USA, this loan package is available even to those who have just arrived from the Philippines and to those who have no U.S. credit history. You can borrow an amount up to two month's worth of your Gross Basic monthly salary and take up to 24 months to pay it back. Lower interest rates are offered under this loan package and rates are guaranteed for 30 days from approval. We will even give you a 1% interest rate discount on the loan if the proceeds of your loan are remitted to the Philippines through PNB New York.

Why Borrow?

• to establish your credit history. Credit is an essential element of life in the USA.
• to take advantage of low PNB New York interest rates, thus, making it less costly than paying thru credit cards. Borrow and pay off other high rate bills.
• to get the money NOW for immediate necessities and pay it back slowly from your salary. Whatever the reason - building a house in the Philippines, tuition for the children, travel money for you or the family, getting settled in the USA, downpayment for that shiny new sports coupe, or even paying off higher interest credit card debt - you can do it now instead of waiting for your savings to grow and at very little cost to you.
• to do your share in helping the Philippine economy by sending funds back home thru the banking system. Borrow to invest in your family and country now.

Qualifying for the Loan

• be a Registered Nurse (if you haven't yet taken the US Board Exams, you may apply provided you are under a definite employment contract and you will pay back the loan before your scheduled exam date).
• have full-time permanent employment.

Documentary Requirements

When applying, you need only to send us a completed loan application (you can request for one via e-mail [please include your snail mail address]) plus your non-refundable application fee in the amount of US$20.00. If your loan is approved, on the day you pick up your loan, you will have to bring the originals of the following documents for our verification. Please be sure to bring these documents with you when closing. If you fail to do so, we will be unable to release the loan proceeds to you. These documents are:

• Your RN license/registration.
• A certificate of employment stating how much you earn per year and when you began work with your employer. If the certificate is more than one month old, please submit also a copy of your latest pay slip.
• Proof of legal working status (passport, visa/I-94, permanent resident card, US Citizenship papers, etc.)
• Latest federal income tax return or W2.
• Two picture IDs (e.g. passport, driver's license, alien card, hospital ID, etc.)

It's Easy to Apply

Either e-mail us (furnishing us with your postal address) or write us or call us to request for a loan application form. If you wish to apply in person, you may bring the originals of the above listed documents with you so that we may verify their authenticity at that time. This way, you will not have to bring them again if your loan is approved. Please bring a set of photocopies with you to leave at our office.

Usually, within three working days from our receipt of your application and fee, we will notify you of our decision.

If approved, we will ask you to set a convenient time when you can visit us and pick up your loan. On that day, if you have not already presented the originals of the above documents, you will have to bring them with you together with a set of photocopies for our files.

A Few Final Notes

• You need not have a PNB deposit account (PNB deposits are not covered by the FDIC) to borrow under the loan package.
• You do not need to have a credit history to borrow.
• You need not have been employed or located in the USA for any minimum period provided you are currently employed and residing in the USA.
• You do not have to send the money to the Philippines but you will qualify for a 1% interest rate reduction or discount if the money is sent to the Philippines through PNB New York Branch.
• You may borrow money for almost any purpose whatsoever.
• You will have 30 full days after we notify you of the loan approval to come and pick up your loan. If interest rates should increase during those 30 days, we still give you the lower interest rate.
• If you are interested in a lower rate loan, ask about our SECURED LOANS. This is particularly useful for those who are currently petitioning for their families to come to the USA.

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