An Informational Interview with A Financing Company The AsiaLink-Kalaw A Partial Fulfillment of Requirements in Banking and Financial Institutions Prepared for: Prof. Ragraciel Manalo Submitted on: March 9, 2012 Prepared by: Bandiola, Penuel Kerith Bautista, Anthony John Ramirez, Allysa Marie Tondo, Elma I. THE ASIALINK A group of enterprising executives belonging to various industries saw the opportunity to venture in the booming consumer financing business. Combining their strengths, Robert B. Jordan handled credit; Ruben Y. Lugtu Jr. abored on the financials while the late Wilfredo T. Anastacio took care of the human resources and operations. With the good demand and sound credit, the company, which they formed, Asialink Finance Corporation was off to a good start. Established in June of 1997, Asialink Finance Corporation is now the leading and fastest growing finance company in the Philippines. The company was initially engaged in the booming business of Appliance Group Financing (AGP), however, due to the Asian Financial Crisis which badly affected companies in the market, Robert B.
Jordan, now the CEO, redirected the company to focus on the promising business of giving short-term loans to business men, doctors and professionals in the year 2000. Today, Asialink Finance Corporation offers a wide range of short-term loan products that cater to the financial needs of businesses and individuals, such as Doctor’s Loan, Appliance Loan, Educational Loan, Allottee Loan, Salary Loan, Beneficiary Loan, Motorcycle Loan, Truck Loan, Car Loan, Real Estate Loan and Medical Assistance Loan.
Asialink Finance Corporation is continually expanding. It now has 93 branches (51 north, 25 south and GD 17) established throughout the archipelago. It is steadfastly improving the quality of its services to the people. It has an important role in alleviating the rampant unemployment, which threatens the Philippine economy, employing more than 500 personnel in its offices and thousands of independent loan consultants. It offers seminars to interested business-minded individuals who are willing to offer an important service to the community.
With its outstanding products and services, competent workforce and growing market niche, Asialink Finance Corporation is poised to become, in 10 to 15 years, the top finance company in the Philippines and a significant player in Southeast Asia. II. THE FINANCING SERVICES PERSONAL LOAN Requirements * Proof of billing * Proof of residency * Proof of income * Valid IDs BUSINESS LOAN Requirements * Business existing for at least one (1) year * Mayor’s Permit or Barangay Permit to operate business DTI Registration if single proprietorship or SEC Registration * Articles of Incorporation and Board Resolution to borrow if corporation, with Secretary Certificate for authorization to borrow and authorized signatories of corporation * 2-3 months latest bank statements (Savings or Current Account) * Basic documentary requirements MICRO-BUSINESS LOAN Requirements * Mayor’s Permit or Barangay Clearance Permit * Latest Bank Statement (if applicable) * Pictures of the business * Basic Documentary Requirements
MODIFIED BUSINESS LOAN Requirements * Business existing for at least three (3) year * 4 months latest original Checking Account Bank Statements – 3 months with original negotiated checks * Mayor’s Permit or Barangay Business Permit * DTI Registration if single proprietorship or SEC Registration * Articles of Incorporation and Board Resolution to borrow if corporation, with Secretary Certificate for authorization to borrow and authorized signatories of corporation * Basic documentary requirements
CORPORATE LOAN Requirements * Gross Monthly Sales/Revenue of P500k * Business existing for at least three (3) years * Mayor’s Permit or Barangay Business Permit * DTI Registration if single proprietorship or SEC Registration * Articles of Incorporation and Board Resolution to borrow if corporation, with Secretary Certification for authorization to borrow and authorized signatories of corporation * 2-3 months latest bank statement * Basic documentary requirements DOCTOR’S LOAN Requirements Updated PRC ID or Proof of Renewal (if expired) * At least two(2) months Latest Current Account or Savings * Account Bank Statement * Copy of Patient’s Ledger or List of Clients * Basic Documentary requirements MEDICAL PROFESSIONAL LOAN Requirements * Open to all nurses, midwives, medical technologists, nutritionist and dietetics, pharmacist, physical and occupational therapists, radiologiest and X-ray technologist * Copy of PRC ID or Renewal Stub * Basic Documentary Requirements
EQUIPMENT PURCHASE LOAN Requirements * Updated PRC ID or Proof of Renewal * Latest Current Account or Savings Account Bank Statement, or Credit Card Billing, or Patient’s Ledger or List of Clients * Quotations from two different suppliers of the item being purchased * Basic Documentary Requirements SALARY LOANQualifications * College graduate * Regular Employee, 6 months regular status * Basic salary P10,000. 00; if single * Combined income of P15,000. 0 if marriedDocumentary requirements * Photocopy of latest one month pay slip * Certificate of Employment (Orig. Copy) * Basic Documentary Requirements| SALARY LOAN (INCENTIVES-BASED)Requirements * Consolidated income of P15k/month (basic salary + incentives) * 3 months pay slip (where salaries and incentives are indicated) * Basic Documentary Requirements| ALLOTTEE LOANRequirements * Marriage Contract, if married * Copy of Allottment Slip * Proof of Remittance (at least Php25,000. 0) * Copy of Latest Contract of Employment| APPLIANCE LOANFOR EMPLOYED * 1 month latest payslip * Company ID * Valid ID (gov’t issued) * Updated electric/wataer billFOR BUSINESS OWNER * Business Permit (Mayor or Barangay permit) * Latest bank statement (if applicable) 2 valid ID (gov’t issued) * Updated electric/wataer billFOR SEAMAN ALLOTEE/OFW BENEFICIARY * Latest remittance receipt or bank statement * 2 valid ID (gov’t issued) * Valid ID (gov’t issued) * Updated electric/wataer bill| CART FRANCHISING LOANQualifications * Cart Business is in operation for 1 yearDocumentary requirements * Business Franchise Agreement * Lease of Contract (if applicable) * Business permit * Latest Bank Statement (savings or checking) * Basic Documentary Requirements| CHECK REDISCOUNTINGQualifications * With PDCs issued by top 5,000 corporation in the Philippines * With BusinessDocumentary requirements * Documented Source of Income * Latest Bank Statement or Recent 2 months Credit Card Billing Statement * List of clients * Basic Documentary Requirements * Proof of income| |
PENSIONER’S LOAN * SSS ID * Additional Government issued ID * Bank Statement (at least 3 months) * ATM card * Barangay clearance * Proof of other income (if applicable)| FRANCHISING LOAN * Proof of Income-the usual requirements are applicable if you are a business owner, docctor, Beneficiary, Allotee, or employee * Application form with Franchise Cost estimate from franchisor| EMERGENCY LOAN Maternity Loan * Ultra Sound and Medical Certificate indicating probable date of her delivery OR SSS form MAT-1 duly stamped and received by SSS * Ob-Gyne’s Contact information * Proof of income Hospitalization Loan * Medical Certificate indicating illness for confinement or operation; or * SSS form CLD-9N (Sickness Notification); or * CLD-9A (Sickness Benefit Claim for unemployed/self-employed/voluntary members); or * MMD-102 (Medical Certificate) * Doctor’s Contact Information Burial Loan Borrower must be the spouse/immediate relative of the deceased * Death or Medical Certificate issued by the hospital duly certified by the doctor; or * Death Certificate issued by the funeral parlor/funeral home; or Certificate of Funeral Service issued by the Funeral Parlor/home CAR LOAN * Car model must be 1991 & above. For luxury cars, model must be 1988 & above * Original OR/CR upon release; photocopy upon application * Original Latest Community Tax Certificate (CTC/ Cedula) * TIN (with proof) *
Latest picture of vehicle * Stencil of motor number and chassis number (in blue form) * Proof of Income * The vehicle must be brought to the branch upon application CAR LOAN TAKE-OUT Statement of Account (SOA) from financing corporation/ bank * Photocopy of OR/CR * Original latest Community Tax Certificate and TIN * Latest picture of vehicle * Stencil of motor number and chassis number (in blue form) * Usual requirements apply if the borrower is employed, with business, allottee, beneficiary or doctor III. THE INTERVIEW 1) Q: What are your company’s vision, mission, and objectives? And what marketing strategies you adopt to realize them? A: Mission-Vision Asialink Finance Corporation strives to deliver fast, convenient, efficient and accessible service to businesses and individuals in need of financial assistance. It constantly pushes to attain a competitive edge in the financing industry hrough raising the standards of quality and integrity in its services, thus gaining a greater market share and showing attractive returns on the investment of its stakeholders. It also prioritizes the welfare of its workforce through giving fair wages, benefits, and incentives, thus fostering a healthy and goal-oriented working environment. It envisions itself to be the best in the Philippines and a significant player in the rest of Southeast Asia in the financing industry by the year 2015. The company was initially engaged in the booming business of Appliance Group Financing (AGP), however, due to the Asian Financial Crisis which badly affected companies in the market, Robert B.
Jordan, now the CEO, redirected the company to focus on the promising business of giving short-term loans to business men, doctors and professionals in the year 2000. 2) Q: Aside from lending, what other services you offer to your target market? A: Asialink Finance Corporation offers a wide range of short-term loan products that cater to the financial needs of businesses and individuals, such as Doctor’s Loan, Appliance Loan, Educational Loan, Allottee Loan, Salary Loan, Beneficiary Loan, Motorcycle Loan, Truck Loan, Car Loan, Real Estate Loan and Medical Assistance Loan. 3) Q: Do you just finance the desire of your clients or you just limit your offer to appliances, house and lot, vehicles and equipments? A: We finance what the clients desire or applied for. 4)
Q: How do you maintain your company’s competitiveness in consideration of the fact that the nature of it is prone to great risk? A: We maintain the company’s competitiveness thru effective collection and marketing arm. 5) Q: From the three Cs of Credit, which among them you rely most? why? A: Capacity because means how much debt a borrower can comfortably handle. Income streams are analyzed and any legal obligations looked into, which could interfere in repayment. 6) Q: Does your company offer services to large businesses too? A: The Company also offers services to large business such as corporations and partnerships. 7) Q: What are the differences among a financing company like yours, a “lending investor” and a “venture capital corporation”?
A: Aside as a lending investor and venture capital corporation, Asialink Finance Corporation is steadfastly improving the quality of its services to the people. It differs from other financing company because it also offers seminars to interested business-minded individuals who are willing to offer an important service to the community. 8) Q: What is your company’s competitive advantage over other financing companies proliferated within your covered area? A: Our unique loan offers (such as beauty loan, LPG loan and tricycle loan in the north) and the fast processing of application are our competitive advantage over other financing companies. 9)
Q: Between your company and banks loaning out money, which you think is stricter? A: I think the commercial banks are the ones stricter in loaning out money. Also, the banks have higher rates. 10) Q: In case of borrower’s default, how do you cope up on it? How do you manage the commonly encountered credit risk of a financing company like yours? A: Our actions regarding borrower’s default is the same with any other company in the industry. Primarily, we use restrictive actions. In case the client completely ignored our notices and/or letters and didn’t show any interest to settle the account, we apply legal proceedings such as repossession. 11) Q: How do you acquire emergency funds?
A: Confidential 12) Q: Are you a stock corporation? If yes, do you select your stockholders thus ensure that you would not be having problems as per the Anti-Money Laundering Act? A: We are a stock corporation. 13) Q: What particular governing body supervises your operation? A: The Central Bank supervises all our activities. 14) Q: How do you determine the corresponding lending rate you impose to your customers? Is there a standardized industry ceiling you follow for said purpose? A: The rate depends on the economic situation in the country, both political, phenomenal reason and the like. Actually there is no ceiling and we’re not standardized. 15)
Q: In case the Bangko Sentral imposes higher rediscounting rate, do you also increase your lending rate? A: In that case. We do impose higher rates. 16) Q: Does economic crisis greatly affect the company? A: Economic disturbances have great effect to Asialink, to the rates especially. For example, what happened during Ondoy. We raised the lending rate on the auto loan due to sudden demand. 17) Q: What would be the contribution of your business towards our nation’s development? A: Asialink Finance Corporation has an important role in alleviating the rampant unemployment, which threatens the Philippine economy, employing more than 500 personnel in its 54 offices and thousands of independent loan consultants.
It offers seminars to interested business-minded individuals who are willing to offer an important service to the community. 18) Q: What is your company sources regarding financial information? A: Confidential 19. Q: Has your firm shown substantial and consistent growth? A: Today, the company did show substantial and consistent growth however, due to the Asian Financial Crisis which badly affected companies in the market, Robert B. Jordan, now the CEO, redirected the company to focus on the promising business of giving short-term loans to business men, doctors and professionals in the year 2000. 20. Q: Beyond the statistics, what differentiates your firm from other firms?
A: Asialink Finance Corporation offers a wide range of short-term loan products that cater to the financial needs of businesses and individuals. The company also has good demand and sound credit that differs it from other firms. 21. Q: What is the financial condition of your company? A: It was currently in a “good” financial condition. Asialink Finance Corporation is continually expanding. It now has 93 branches (51 north, 25 south and GD 17) established throughout the archipelago. It is steadfastly improving the quality of its services to the people. 22) Q: Who are your most immediate clients? A: As Asialink Kalaw is strategically erected near the Seafarer’s lair, our most valued customers are the seamen and OFWs. 23.
Q: What are the measures are being undertaken of your company not only to maintain as among the top consumer lending company in the Philippines, but also to impress upon its stockholders, investors, employees, clients and the general public the magnitude of its commitment to do business in the most professional and efficient manner. A: With its outstanding products and services, competent workforce and growing market niche, Asialink Finance Corporation has an important role in alleviating the rampant unemployment, which threatens the Philippine economy, employing more than 500 personnel in its offices and thousands of independent loan consultants. -End-
