Micro-finance firm extends loan offers

CEBU, Philippines — 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 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 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.