Asialink Finance Corporation, known for lending to small and medium enterprises, is diversifying into real estate lending, offering quick processing and low interest rates to individuals and small and medium enterprises (SMEs).

Asialink said it is offering three types of lending under this move namely Sangla Titulo (loan using land title as collateral), take-out of housing units, and acquisition of property.

Under Sangla Titulo, a business entity can borrow up to P20 million and offer property as collateral. The interest rate is 0.8 percent if up to five years, plus a one-time 5.5 percent as service fee.

For the take-out of housing units, Asialink advances the full payment for the property on behalf of the borrower at an interest rate same with Sanlang Titulo.

Asialink said the release of the funds is faster by a few months than bank processing time.

For acquisition of property, Asialink can lend up to P15 million for the purchase of a property, at a rate of 0.9 percent per month for loans with a term of five years and below, and one percent if up to 10 years.

“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,” Sam Cariño, President and CEO of Asialink Finance Corporation, said.

The company earlier 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.

ASIALINK PHOTO