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Asialink Finance Corp. (AFC) has launched a new property-backed loan program offering up to ₱20 million in financing for businesses, with flexible options including loan against property title, housing unit take-out, and property acquisition, with interest rates lower than one percent.
According to AFC, the lending 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 loan program follows Asialink’s presence in funding SMEs, particularly in helping them buy trucks and other vehicles to expand their operations.
“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,” Asialink president and CEO Sam Cariño said.
The new loan program offers three types of financing: using property as collateral ("sangla titulo"), advance payment for housing units, and property acquisition loans.
Under the "sangla titulo" loan, businesses can borrow up to ₱20 million by using property as collateral, with interest rates starting at 0.8 percent for terms of up to five years, plus a one-time 5.5-percent service fee.
“The loan proceeds can be released within two weeks from the submission of all the documents required,” Asialink said.
For take-out housing loans, Asialink pays the full property amount directly on behalf of the borrower, offering the same interest rate as "sangla titulo."
“The release of the funds is faster by a few months than bank processing time,” it said.
For property acquisition, Asialink offers loans of up to ₱15 million, with interest rates of 0.9 percent per month for repayment terms of up to five years, and one percent per month for terms of up to 10 years.
The company specifically targets small businesses that struggle to secure bank loans. Asialink further said that its “success” has drawn investments from the International Finance Corp. (IFC) of the World Bank, private equity firm Creador, and financing support from the Manila-based Asian Development Bank (ADB), among others.
