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Microfinance

Responsible Lending

Before even leaving the Philippines, almost all OFWs already owe significant sums to pay expensive employment agency and processing fees. With no access to regular banking services abroad, they take on more loans with private lending agencies and enter into a spiral of debt. It becomes increasingly difficult to save any part of their earnings. What they envision as a temporary contract overseas often turns into decades away from their families.

The mission of Pacific Ace Finance is to empower Overseas Filipino Workers with responsible access to microcredit. All loan applicants undergo rigorous and continuous briefings on fiscal responsibility. Our mandate is to empower our customers with needed financing and discourage any unnecessary debt.

THE OFW STORY

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Loans

  • Potential borrowers can make an application for loans from HKD5,000 up to HKD25,000 with a repayment period of 5 to 12 months.
  • Depending on the client’s profile we will ask them to provide a co-borrower or guarantor and up to 2 references.
  • Loan applications are approved on a case to case basis.
  • We consider the purpose of the loan and the applicant employment and financial situation among other factors.

New Borrower

Min amount: HKD 5,000
Max Amount: HKD 8,000
  • 3 months employed
  • With at least 6 months visa
  • HKID
  • Passport
  • Employment Contract
  • Latest Proof of Residential Address
  • Telephone Interview / Landline Verification

Previous Borrower

Min amount: HKD 5,000
Max Amount: HKD 25,000
  • 3 months employed
  • With at least 6 months visa
  • HKID
  • Passport
  • Employment Contract
  • Latest Proof of Residential Address
  • Telephone Interview / Landline Verification

Loan Remittance

  • For long-time customers with good records, we offer a credit line of HKD3,000 up to HKD15,000 with a repayment period of one month.
  • They can make use of this credit line to make emergency remittances to the Philippines.
  • Loan remittance credit lines are approved on a case to case basis.
    We consider the clients records, purpose of the loan and the applicant employment and financial situation among other factors.

Min amount : HKD 3,000
Max Amount : HKD 15,000
  • 3 months employed
  • With at least 6 months visa
  • HKID
  • Passport
  • Employment Contract
  • Latest Proof of Residential Address
  • Landline Verification

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