Asialink Finance Corporation is one of the leading lending companies in the Philippines that offer different loan products either with collateral or non-collateral loans.
The collateral loans include car financing, second-hand truck or car purchase, truck refinancing, tricycle loan, and truck or car take out. On the other hand, the non-collateral loans include business loan, OFW loan, doctor’s loan, and seaman’s loan.
The OFW loan is the most sought loan product of Asialink because it caters a huge group that is the overseas Filipino workers. If you are one of the OFWs looking for a lending company where you can borrow money, you should read this.
Basic requirements for Asialink OFW Loan
Just like applying for a loan in banks, there is also a set of requirements when applying for OFW loan from Asialink. Since the OFW loan is a non-collateral loan product, an applicant doesn’t need to present collateral. The approval of the loan application will depend on the credit record of the applicant.
This loan product is offered to overseas Filipino workers receiving a minimum of Php20,000 monthly salary. The applicants must prepare the requirements listed below:
- Copy of passport
- Copy of visa
- Plane ticket/flight details
- Latest contract validity by the POEA
- Overseas employment certificate
Additional documents are required for Balik Manggagawa as Asialink would ask for the proof of remittances and last arrival stamp. Applying for OFW loan can be a great help for an OFW and the family. It can be used to start a new business or for any other purposes. Since this type of loan is non-collateral, you need not worry about putting your properties to risk.
Read also: How to Open PNB Savings Account for OFW
Some people are saying that getting a loan can lead to debt. There’s nothing wrong borrowing money if you have the financial capability to repay it. On the other hand, apply for a loan amount that you can afford to repay without compromising other financial obligations.