Micro-finance firm extends loan offers
The Filipino's penchant for mobile phones and strong appetite for travel has prompted European-supported micro finance company to extend its easy access to gadget and holiday or travel loans.
Flexi Finance Asia Inc., chief marketing officer Richard Lorincz in an interview yesterday said that the company plans to expand its travel agency and gadget store partners, as well as establishing Flexi Finance outlets in shopping malls to reach out more customers.
Flexi Finance is benchmarking its system via the established sales financing standard in Europe, the reason why it can process applications within 30 minutes, granting that basic requirements are complete.
Lorincz said that although the primary market of this specialty financing system is the young generation or the millennial group because of their appetite for gadgets and travels, borrowers however
Family-owned Enrison Holdings Inc., the company behind the Be Hotels and Resorts, is set to build its maiden residential condominium project in Cebu City as it sees a continued strong demand in the property market.
Company president Grand Benedicto said in an interview yesterday this is one of the projects lined up in the company's expansion in the next 3-5 years.
The official said the company has allotted at least P5 billion for the expansion as it looks to launch 5-6 more projects in the next three years.
The 18-storey Be Residences, the firm's first condo project launched yesterday, is planned to start construction next year and will be completed in 2-3 years, encompasses a particular age bracket.
Aside from gadget and travel loans, the company also plans to include other specified loan offerings such as motorcycle and appliance loans.
Founded in Cebu City in 2015, Flexi Finance has a total of 3,000 partner stores and over 2,800 employees in the country.
Unlike the traditional loan channels, Flexi Finance only requires two valid IDs, and at least three months employment history.
The company can extend loans up to P70 Benedicto said.
The project is located in St. Lawrence St., Lahug, Cebu City -beside the bustling Cebu IT Park.
He believes Cebu's property market remains strong.
Nova Noval, chief operations officer of Be Residences, also pointed out there remains to be so much potential in Cebu's property business.
"We're not yet on the saturation point," she said. "There is still a lot of areas potential to be developed."
Noval noted that demand for thousand to P75 thousand depending on the borrowers' creditability or capability to pay.
It offers six months to 36 months payment terms. Interest rates likewise depend on the amount borrowed and payment schedules.
Flexi Finance aims to provide the market with accessible, affordable and fair consumer financing.
The company is a member of European firm Profireal Group operating in countries like Czech Republic, Slovakia, Poland, Russia and Bulgaria. condo has continued to increase as market preference shifts to vertical developments with the rising land prices in the metro area.
"Land is becoming expensive. Demographics are changing," she said.
Noval cited that Cebu's property market continues to get buying interest from returning overseas Filipino workers, migrants from neighboring provinces, locals and foreigners as well.
The Cebu-based property developer is involved in various businesses including furniture and cement.
Its first venture in the hospitality industry is the three-star Be Resorts on Mactan Island, Cebu.
It also operates the five-star Be Grand Resorts Bohol at a sprawling five-hectare beachfront property on Panglao Island.