Expenses never end, and sometimes, you may find yourself in a bind. It’s either your business requires additional funding or one of your parents needs financial assistance for their surgery.
Sourcing quick cash can be difficult, especially if you’ve already exhausted government loan options and your relatives or friends are also short on money. Thankfully, private lenders like Asialink Finance Corporation offer solutions through its various loans.
Want to find out more? Check out this comprehensive guide to various Asialink financing options.
Also known as Asialink, Asialink Finance Corporation is a lending company established in 1997. It prides itself on offering competitive interest rates coupled with fast processing times. [1] The company is also known for being inclusive, serving both businesses and individuals.
Currently, this loan and financing company employs over seven hundred personnel and thousands of independent consultants. There are also more than 80 Asialink Finance Corporation branches across the country. [2]
Yes. Asialink Finance Corporation is listed with the Securities and Exchange Commission (SEC). Its registration number is A199711768, CA No. 570.
An Asialink loan refers to the money qualified applicants receive from Asialink Finance Corporation to finance their needs. There are various loan products to choose from, depending on your situation:
If you own a vehicle, you can apply for Asialink’s Sangla OR/CR loan. With this product, you’ll get cash by pawning your vehicle title (also called Official Receipt/Certificate of Registration or OR/CR). You’ll get your vehicle title back once you pay back the loan in full.
This loan comes with a maximum repayment term of 48 months.
Looking to buy a car or a truck? Get funds by applying for Asialink financing. You can use the company’s auto loan to buy a brand-new or second-hand vehicle.
This product also comes with a maximum repayment term of up to 48 months.
This is a personal loan only offered to general practitioners, ophthalmologists, and dentists. If you apply for this loan, you have a maximum repayment term of up to 12 months.
Asialink primarily focuses on collateral lending. This means that your loan amount will depend on the appraised value of your asset, which is a vehicle in this case.
You can apply for a loan amounting to as much as 70% of a vehicle’s appraised value, However, keep in mind that only units made from 2005 to the present are qualified for Asialink financing.
This will depend on the type of loan you’re applying for. For Sangla OR/CR loan and secondhand car loan, you may get as low as a 1.5% interest rate.
If you’re applying for a doctor’s loan, the interest rate is 1.75%. On top of that, you’ll need to cover the 5% Asialink processing fee.
Asialink financing schemes have appealing features that may convince you to apply:
You can apply for an Asialink car loan, Asialink Sangla OR/CR loan, and even a doctor’s loan. With such a range, you can find the lending product that fits your specific needs and repayment capacity.
While some car title loan companies require borrowers to surrender their cars, Asialink does not. You’ll only be required to turn in your OR/CR. With that, you can still use your car—helpful for those who use their vehicles as a source of income.
For its Sangla OR/CR loan, Asialink Finance Corporation accepts different kinds of vehicles. These include cars, trucks, taxis or public utility vehicles (PUVs), multicabs, tricycles, and motorcycles.
If your car is 16 years old or so, you’ll be glad to know that Asialink accepts 2005 car year models and above. On the other hand, if you’re using a truck as collateral, any make and year model will be accepted.
Asialink Finance Corporation has been operating in the country for 26 years. This is a clear testament to its capability as a lender. With its reputation, you know that you can rely on this company when the going gets tough.
With almost three decades in the industry, Asialink Finance Corporation has proven itself as a reliable financing company for the common folk. One of its most striking attributes is its commitment to providing loans to unbanked and underserved Filipinos. After all, a lot of Asialink’s clients won’t qualify for bank loans.
Asialink’s business shone the brightest when the pandemic hit the country in 2020. At the time, Asialink exemplified its flexibility by restructuring its loans, helping individual borrowers follow through on their obligations and simultaneously keep their businesses afloat. [2]
Asialink’s credibility received a boost through the endorsement of Chinkee Tan, one of the leading financial influencers in the country. Tan puts emphasis on the lender’s low interest rates and high appraisal of collaterals.
The requirements will depend on the type of loan you’re applying for.
You’re eligible for a loan if you meet these qualifications:
Those pawning their vehicles should prepare the following Asialink loan requirements:
For proof of income:
Note that additional requirements may be needed upon credit evaluation.
Buying a used car? Here are the Asialink loan requirements you need to submit:
General practitioners, ophthalmologists, and dentists should submit the following Asialink loan requirements:
-1.png?width=300&height=200&name=Pics%20for%20blog%20(16)-1.png)
Applying for an Asialink loan is easy. Here are the steps that you need to take:
For questions and concerns regarding your loan application, get in touch with Asialink via these channels:
Related reading:
Done reading the Asialink loan review above? It’s time to answer some of your questions. Check out the following:
Asialink Finance Corporation’s personnel will give you a call to inform you that your application has been approved. They will also give you instructions on how to claim your loan proceeds.
Asialink will disburse the loan proceeds via checks, direct deposit, or cash card.
Yes. But if the company requires you to have a checking account, Asialink will endorse you to its partner bank.
You can pay your loan via post-dated checks or PDCs. You can also settle your dues through Asialink’s partner payment centers nationwide:
To pay at any of Asialink’s partner payment centers, just follow these steps:
Yes. According to Asialink Finance Corporation, you may apply for a loan renewal if you’ve already paid at least 50% of your original loan. The company, however, will deduct the outstanding balance from the proceeds of your new loan application.
To renew your loan, just contact Asialink’s Renewal Department or visit the nearest branch. You may also get assistance from an Asialink Loan Consultant.
If you want to pay Asialink’s head office a visit, its Metro Manila address is Suite 210, AIC Gold Towe, Emerald Avenue cor. Garnet Road, Ortigas Center, Pasig City.
Without a doubt, Asialink is one of the leading non-bank lenders in the Philippines. Its 26-year heritage is proof of that. But what makes it the ideal lender is its commitment to serve unbanked and underserved Filipinos.
Other than reading this Asialink loan review, reaching out to family and friends who borrowed money from this lender will help. You’ll get to hear about their experience of how the company aided them in overcoming their financial hardships.
If you want to explore other loan options, you can compare your options and apply easily through Moneymax:
Provider Loan AmountMonthly Add-on Rate
Minimum Annual Income
Approval Time
UnionBank Personal Loan
Sources:
Jay is a marketing communications professional who specializes in short-form and long-form content. He has written ads for TV, radio, print, and digital. He has also produced corporate blogs, magazine features, white papers, product listings, reviews, and press releases for clients here and abroad. When he’s not writing, Jay plays the piano or takes pictures for his visual diary. Follow Jay on LinkedIn.
