Streetcorner Lending Corp. is a Philippine lending company operating under the brand name Akulaku. Through its mobile application and partner platforms, the company provides cash loans and Buy Now Pay Later financing to eligible Filipino customers.
Akulaku is not the legal name of the lender. Loan agreements in the Philippines are issued by Streetcorner Lending Corp. doing business under the name and style of Akulaku. The company is registered with the Securities and Exchange Commission and operates primarily through digital channels.
Akulaku offers two main types of consumer financing in the Philippines:
The conditions of these products are different. Applicants should not assume that the loan amount, interest rate, repayment period, or fees advertised for a cash loan also apply to an installment purchase.
The Akulaku Cash Loan app allows qualified customers to apply for a personal loan without visiting a physical branch. According to the current Philippine App Store listing, the product has the following advertised conditions:
The maximum amount is an advertised limit rather than a guaranteed offer. Each customer receives an individual credit limit based on Akulaku’s assessment. A new applicant may be offered significantly less than ₱60,000 or may not be approved.
The company provides an example based on a ₱10,000 cash loan issued for 180 days at an APR of 30%:
This is only a representative calculation. The rate and amount available to a particular borrower may differ after the credit assessment.
Akulaku’s Buy Now Pay Later service provides credit that can be used to purchase products from participating merchants. Instead of paying the full price immediately, an approved customer pays according to the installment schedule displayed in the application.
Akulaku’s terms state that a down payment for an installment purchase may be as low as 10% of the product price or transaction amount. The exact down payment, credit limit, repayment period, interest, and fees depend on the customer and the selected transaction.
The public terms refer to installment periods such as six, nine, and 12 months. Some promotional plans may advertise 0% interest, but a processing fee may still apply. For example, the published terms list different processing fees for smartphones, appliances, and furniture depending on the selected installment period. A 0% promotion is available only to customers who meet the relevant promotional requirements.
The Akulaku Cash Loan app lists the following basic eligibility requirements:
The mobile number should be registered to the applicant in accordance with Philippine SIM registration requirements. Akulaku may also request additional information to verify the applicant’s identity, income, residence, employment, or ability to repay.
Meeting the basic requirements does not guarantee approval. Akulaku may reject an application when it cannot verify the applicant’s identity, when requested information is not provided, or when the company’s credit assessment indicates that the customer does not qualify.
The initial cash loan application is advertised as requiring a mobile phone and a valid government-issued ID. However, additional verification may be required depending on the applicant and the requested amount.
An applicant may be asked to provide or confirm:
Akulaku’s terms allow the company to verify information through employers, credit bureaus, government agencies, and other external sources where legally permitted. The application may also require an ID scan, selfie, SMS verification code, or security questions.
Applicants should provide only accurate and current information. Inconsistent identification, an unregistered mobile number, unreadable documents, or incorrect employment details may result in a delay or rejection.
The applicant should install the official Akulaku Cash Loan app published by Streetcorner Lending Corp. Applications should not be submitted through an APK file, unofficial website, social-media page, or link sent by an unidentified agent.
The customer registers using an active mobile number or email address. A verification code or link may be sent to confirm ownership of the contact information.
The applicant submits a valid government-issued ID and completes any required selfie or facial verification. Additional questions may be used to confirm identity and prevent fraudulent applications.
The application may request the customer’s address, employment, income, references, and preferred disbursement account. All information should correspond with the submitted identification and supporting documents.
Akulaku evaluates the application and assigns an individual credit limit. Approval is based on the company’s internal assessment and is not guaranteed merely because the applicant has completed the registration process.
An approved customer should receive an offer displaying the principal amount, interest rate, APR, term, installment amount, due dates, and total repayment.
The borrower should review the Disclosure Statement before accepting the loan. Screenshots or copies of the offer should be retained in case the terms need to be checked later.
The cash loan may be transferred to the borrower’s designated e-wallet or supported bank account. The current app description mentions channels such as GCash, Maya, and BPI, although the available options may depend on the customer’s account and the current application version.
Akulaku does not apply one universal rate to all products and customers. The current Cash Loan app listing advertises a maximum APR of 30% for loans of ₱2,000 to ₱60,000 with terms of 91 to 180 days.
However, a separate loan and disclosure agreement published on the Akulaku website contains examples of:
The document states that the actual APR depends on the customer’s credit assessment. These terms may refer to a different Akulaku product, agreement version, or installment arrangement than the currently advertised Cash Loan product. Therefore, the individual offer displayed in the app and the signed Disclosure Statement should be treated as the applicable terms for a specific loan.
Before accepting financing, the borrower should check:
A promotional statement such as “0% interest” does not necessarily mean that the transaction is entirely free. Akulaku’s BNPL terms indicate that processing fees may apply to some promotional installment plans.
The payment amount and due date are displayed in the borrower’s Akulaku account or payment schedule. Each installment must be paid on or before the stated due date.
Akulaku’s published loan agreement states that a borrower may repay the outstanding balance early or pay more than the required installment without a prepayment penalty. Previous overdue installments and late-payment charges are settled first before the remaining amount is applied to the outstanding balance.
Borrowers should verify the current payment channel inside the application before transferring money. Payment should not be sent to an agent’s personal e-wallet or bank account unless that channel is explicitly confirmed in the official application or agreement.
Receipts, transaction references, and screenshots of completed payments should be retained until the loan is fully closed.
Akulaku’s public documents contain different late-payment provisions, which may apply to different products or agreement versions.
One loan disclosure appendix states that:
A separate set of general BNPL terms refers to a different daily penalty provision. Borrowers should therefore check the exact penalty clause shown in their own Disclosure Statement rather than relying on a general website page.
A missed payment may also result in collection activity and affect the borrower’s credit history. Customers expecting difficulty paying should contact Akulaku before the due date and request written confirmation of any revised arrangement.
Streetcorner Lending Corp. publishes the following regulatory details:
These details are also displayed in the official Akulaku Cash Loan application listings.
Streetcorner Lending Corp. doing business as Akulaku also appears on the Credit Information Corporation’s lists of submitting and accessing entities. This means the company participates in the Philippine credit information system and may submit or access credit data in accordance with applicable rules.
Akulaku collects information needed to create an account, verify identity, evaluate creditworthiness, administer loans, communicate with customers, and conduct collection activities when an account becomes overdue.
The company’s terms state that it may verify income, residence, employment, business information, and other relevant details through employers, credit bureaus, external parties, and government agencies where permitted. It may also record calls, chats, SMS messages, and other communications connected with the application or account.
Applicants who provide emergency contacts or references are expected to obtain those individuals’ consent. The references may be contacted for verification or collection purposes.
Users may request account deletion through the application or customer support. However, some data may continue to be retained when required for legal, regulatory, fraud-prevention, or operational reasons.
Applicants should use only the official Akulaku website and mobile application. Personal information, identification documents, passwords, one-time PINs, and bank credentials should not be provided to an individual claiming to guarantee approval.
Borrowers should be cautious when someone requests an advance payment described as an activation fee, insurance charge, processing deposit, or fund-release fee. Any charge must be reflected in the official loan offer or Disclosure Statement.
Akulaku does not guarantee approval. Claims that a loan can be approved without verification or after transferring money to an agent should be treated as suspicious.
Streetcorner Lending Corp. publishes the following contact information for its Philippine operations:
The applicable customer-service channel may depend on whether the concern relates to a cash loan, PayLater account, payment, or complaint.
Yes, the Streetcorner Lending Corp. is legit. It registered with the Securities and Exchange Commission (SEC), with Registration No. CS201606603 and Certificate of Authority No. 1830. To verify this information, you may also visit the official SEC website.
If you want to file a complaint against "Streetcorner Lending Corp.", you may leave a review or contact the SEC by email at [email protected] or by calling the SEC Call Center at 02-5322-7696.
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