THEORETICAL AND CONCEPTUAL FRAMEWORK
This chapter presents the review of related literature and studies, synthesis, theoretical and conceptual framework of the study and definition of some terminologies used in the study.
A. Review of Related Literature and Studies
Harr Singh in his article entitled “Personal Loan-A Multi-Purpose Loan” mentioned the need for loan. He sighted that our needs often overshoots our available resources and that is when the need for loans arrives to fulfill our requirements. He also mentioned that this financial provision intends to provide funds even without collateral. Personal loans are same with multi-purpose loans because they can solve many purposes, whether to renovate houses, holidaying, paying education fee and so on.
According to an article entitled “Personal Loans: Multi-Purpose Loans, personal loans are the best multi-purpose loans in the financial market today. There is no restriction on using the availed loan amount by the customer.
An article from Pag-IBIG Fund discussed a topic on Multi-Purpose Loan. It says in the article that MPL are also referred as Personal Loan and provides essential financial assistance to Pag-IBIF Members for different purpose such as; (1) Minor Home Improvement; (2) Small Business or Livelihood Financing; (3) Medical Assistance; (4) Educational Purpose; (5) Purchase of Appliances and Furniture and many other things.
Another article from Insight Underneath a Stray entitled “Personal Loans Along with the Impact they Have Already Created Inside Our Life” posted last August 30, 2011 stated that many people utilize multi-purpose loans and we just have to be grateful for having that option since without them many of people might fight to escape their very own house, car, business to placed as collateral.
On the other hand, an article from Sunstar by Mia A. Zamar entitled “Multi-purpose Loans response ‘Tepid””, there are...