Asialink Finance Corporation and PLDT-owned tech firm FinTQ, through its online lending arm Lendr have joined forces to offer one-day loan applications for overseas Filipino workers (OFWs)
Robert B. Jordan Jr., CEO of Asialink Finance Corporation, said the move can serve OFWs by giving them access to loans in times of emergencies.
“We’ve always been committed to providing our customers, especially our OFWs, with a fast and easy way to avail loans for their immediate needs. We are happy to be among Lendr’s partners and make our innovative loan offers to our fellow kababayans overseas more accessible and convenient,” Jordan said.
OFWs who wish to apply for loans need to visit Lendr’s website or download the Lendr app available for Android users. Once an account has been created, OFWs can choose to apply for either an OFW loan or a seafarer’s loan.
The application will also show the computation of monthly amortization and interest rates based on the loan amount.
Borrowers must accomplish the application form provided and attach all required documents.
Borrowers will be notified via SMS for the status of their loan application. Upon approval of application, the loan will be ready for withdrawal.
For OFW loans, borrowers must
– have a minimum monthly income of P20,000;
– be employed, with at least six months left in their contract;
– provide a copy of their latest contract of employment with POEA validation, passport, visa, proof of remittances for the last three months, authorization letter to borrow, and an exit stamp and arrival stamp or a copy of their plane ticket, along with other basic documentary requirements.
Meanwhile, here are the requirements for the seafarer’s loan:
– borrowers must have a minimum monthly salary of P15,000.00 with guaranteed overtime pay;
– a copy of their latest standard contract of employment with POEA validation;
– latest allotment slip/ certificate;
– passport and Seaman’s book;
– Seafarer’s Registration Certificate (SRC), along with basic documentary requirements.
PHOTO FROM: Discover.com
I tried creating an account which requires a Philippine mobile number as they will send verification message. 99% of OFWs does not have Philippine mobile number. Also, their mobile app on Android is not available in Dubai, UAE. How are they helping OFWs then?