The startup operates a mortgage platform that integrates mortgage applications directly into the websites of local real estate developers, allowing homebuyers to get qualified and underwritten in just a few clicks. This streamlined process addresses the challenge of accessing home loans efficiently, enabling both homebuyers and real estate investors to secure financing with minimal friction.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small to medium-sized real estate developers in the Philippines face challenges in securing timely financing for their projects, particularly in bridging the gap between initial project approval and the disbursement of bank home loans. This delay can hinder project progress and impact the ability to meet construction timelines.
Solution
UWI provides "Express Building (EB) Financing," a short-term bridge loan designed to address the financing delays experienced by developers awaiting bank home loan disbursement. This unsecured loan covers 100% of the approved construction budget or the total amount stated in the Letter of Guarantee (LOG) or Notice of Approval (NOA). With interest-only monthly payments and principal due at maturity, EB Financing offers a flexible solution to maintain project momentum during the interim period.
Target Audience
The primary target audience consists of small to medium-sized real estate developers in the Philippines who require short-term financing to bridge the gap between project approval and bank loan disbursement.
Features
- Unsecured short-term bridge loan
- Financing covers 100% of approved construction budget or amount stated in LOG/NOA
- Loan term matches the validity of the LOG/NOA
- Interest-only monthly payments
- Maximum 60-day loan extension available with extension letter from LOG/NOA issuer
- No prepayment penalty