Known for its fast processing and competitive interest rates, Asialink is bringing these strengths to a new set of borrowers beyond its established clientele in truck and vehicle financing.
“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.
Asialink now offers three types of real estate loans: Sangla titulo (loan against property title), take-out of housing units, and property acquisition.
Under the sangla titulo program, SMEs can borrow up to P20 million by using a property title as collateral. Interest rates start at 0.8 percent a month for up to five years, with a one-time 5.5 percent service fee. Loan proceeds can be released within two weeks of submitting complete documents.
The take-out of housing units product allows Asialink to pay for a borrower’s property in full, offering the same interest rates as sangla titulo, but with faster disbursement compared to banks.
For property acquisition, borrowers may avail themselves of up to P15 million. Interest rates are 0.9 percent monthly for terms up to five years, and 1 percent for 10-year loans.
Asialink's focus remains on underserved SMEs. Its track record has earned the confidence of major institutional investors, including the International Finance Corp. (IFC), private equity firm Creador, and the Asian Development Bank (ADB). —Ed: Corrie S. Narisma
