Pawning ideal for quick MSME loans
Most of our customers won’t qualify for bank loans while banks are not designed for this business
Daily TribuneMost of our customers won’t qualify for bank loans while banks are not designed for this business
Start up businesses that most banks avoid since they are considered high-rick clients are considered a greenfield sector for new financing institutions.
Asialink Finance Corporation, which has raised P1.8 billion from various banks, has offered pawning to small firms using cars and trucks as collateral.
"Demand for quick loans from small and medium business owners and individuals have always been high and we have always been there to meet their needs. This year, as we recover from the pandemic, that demand is even higher," Apples Mangubat, president and chief operating officer of Asialink, said.
The company, she said, offers quick processing with the least required documentation and steps, which Asialink customers find convenient.
"Most of our customers won't qualify for bank loans while banks are not designed for this business. So we bridge that gap, partnering with banks in effect and lending to the end borrowers," she said.
She said Asialink offers competitive rates and has 94 branches all over the country, making its services affordable and accessible.
25 years of experience
Asialink has been in the pawning business for 25 years and has earned the trust of banks that readily provide it the funds it needs.
Among the lenders that provided Asialink P1.8 billion for this year alone are Development Bank of the Philippines, Philippine Business Bank, Small Business Corporation, Philippine Veterans Bank, and Cebuana Lhuillier Bank, CTBC Bank, EastWest, UnionBank, Robinsons Bank and Chinabank.
