MANILA, Philippines — Asialink Finance Corp. is venturing into real estate lending, offering fast processing and low-interest loans tailored for individuals and small to medium-sized enterprises (SMEs).
The new offering comes as the company builds on its rapid expansion in the SME vehicle financing space. It marks a significant milestone for the non-bank financial institution, which has seen strong demand from underserved businesses.
“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 in a statement.
Asialink is initially rolling out three real estate lending products; Sangla Titulo (loan against property title), take-out of housing units as well as property acquisition loans.
Under Sangla Titulo, SMEs and individuals can borrow up to P20 million by using real estate assets as collateral. The loan carries an interest rate as low as 0.8 percent per month for terms of up to five years, with a one-time service fee of 5.5 percent.
Once all required documents are submitted, loan proceeds can be released in as little as two weeks.
For clients needing to fast track their home ownership, Asialink offers a take-out option in which the financial institution advances the full payment for a housing unit on behalf of the borrower.
This alternative features similar rates as Sangla Titulo and boasts a turnaround time that is faster by a few months compared to traditional bank processing.
Meanwhile, for direct acquisition of property, Asialink is offering loans of up to P15 million with monthly interest rates of 0.9 percent for up to five years, or one percent for terms up to 10 years.
