OFWs, seafarers can now avail of loans anytime, anywhere via Lendr

OFWs and seafarers can now apply for loans wherever they are, whenever they want to, and get an approval from AsiaLink in as fast as 24 hours via Lendr, the digital loans marketplace of FinTQ Corp.

Photo credit: OFWlife.PH

To avail of the OFW or Seaman’s loan, borrowers simply need to visit Lendr’s website or download the Lendr app (for Android users), and create an account.

Once the account is created, sign up and choose either OFW loan or Seaman’s loan. Indicate your loan amount and Lendr will show a computation of the monthly amortization and interest rate.

Complete the application form, attach all required documents and click submit. Loans can be approved the following day as long as all loan requirements are submitted.

“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,” said Robert B. Jordan Jr. CEO of Asialink Finance Corp.

To qualify for an OFW loan, borrowers must have a minimum monthly income of P20,000 and must be employed with at least six months left in his contract.

Other requirements include: 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.

For the Seaman’s loan, borrowers must have a minimum monthly salary of P15,000.00 with guaranteed overtime pay. Other requirements include: 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.

Loan applicants will be notified by Lendr via SMS and push notification at the Lendr website or app on the status of their loan approval. Once borrowers accept the terms and conditions of the loan, they can immediately withdraw or claim the amount from the partner the bank.

“With the accessibility of the Lendr platform, along with Asialink’s low loan requirements and affordable rates, OFWs and seafarers can quickly and conveniently attend to the immediate cash needs of their loved ones even when they are miles away from home,” said Lito Villanueva, Managing Director for FinTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations.

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