Asialink Finance Corporation is diversifying into real estate lending and offering its trademark quick processing and low interest rates to individuals and small and medium enterprises (SMEs).
The new offering comes after Asialink has entrenched itself in lending to SMEs in their purchase of trucks and other vehicles to grow their business.
“Our sustained and astronomical growth in the past few years has attracted the flow of foreign funds as well as local financing that now allow us to go into new opportunities such as real estate”, said Sam Cariño, President and CEO of Asialink Finance Corporation.
In this new venture, Asialink offers three types of lending: SanglaTitulo; Take-out of housing units; and acquisition of property.
In Sangla, a business entity can borrow up to P20 million and offer a property as collateral. The interest rate is as low as 0.8 percent if up to 5 years, plus a one-time 5.5 percent as service fee. The loan proceeds can be released within two weeks from the submission of all the documents required.
In taking out housing units, Asialink advances the full payment for the property on behalf of the borrower at an interest rate same with sanlangtitulo. The release of the funds is faster by a few months than bank processing time.
In acquisition, Asialink can lend up to P15 million for the purchase of a property. The rate is 0.9 percent per month for a repayment period of five years and below, and one percent if up to ten years.
The company focuses on lending to SMEs that find it hard to borrow from banks and its success has attracted investments from the International Finance Corporation, an arm of the World Bank, and Creador, a private equity fund, as well as financing from the Asian Development Bank, among others.
