The information and services provided by the platform can only be enjoyed by the registered members of Flint. And for legal purposes, the minimum age that is required is 18 years old. For foreigners and foreign-born investors, as long as there are no legal issues and that they passed the account verification by our Customer Support team.

Borrowers are essentially owners, brokers, or developers or real estate properties in the Philippines who are looking for additional capital or funding for their properties or projects.

Flint identifies that the acceptance of a borrower’s proposal for crowdfunding a particular project is the area with the highest potential for risk and loss in its operation as a crowdfunding platform. Flint must take steps to ensure that the project under evaluation is a viable investment opportunity for Flint’s verified investors. As a matter of fact, the following procedures should be followed when accepting a borrower’s proposal to crowdfund a project:

• RISK MANAGEMENT – Risk management aims to identify, measure, and control the risks associated with Flint’s crowdfunding activities. Disseminate the ideology and policies of risk management throughout the organization. It promotes a risk-aware culture based on the SEC’s relevant framework established in its relevant Circular governing crowdfunding.
• CLIENT APPLICATION – Borrowers will be able to crowdfund their projects or properties using Flint’s crowdfunding platform as the first step. This necessitates the submission of the following documents:
• Letter of Intent (LOI)
• Borrower’s Application
• COLLECTION DOCUMENTS – After completing the application form, the Borrower must go through the KYC (Know Your Client) process and submit all required documents:
  • Individual Borrower
    • Personal Details
    • Tax Identification Number (TIN)
    • Specimen Signature
    • Financial documents
    • Property Documents
  • Juridicial / Corporate Borrower
    • Corporate Documents
    • Financial Docuents
    • Property Documents
• ASSESSMENT & ANALYSIS OF DOCUMENTS -A review committee will evaluate all documents submitted by the Borrower before deciding whether or not to approve the crowdfunding request. The committee will also discuss the viable interest rate and the value of the collateral security that the Borrower must provide. This committee must include at least one officer from the Legal Department and one from the Finance Department.
• DECISION MAKING – The review committee will either approve or disapprove the borrower’s request/application for crowdfunding after assessing and analyzing the documents listed in the preceding number. Such decision shall be duly communicated to the Borrower.
• LOAN DOCUMENTATION – After approval by the review committee, Flint shall provide a copy of the Funding Agreement to be executed by Borrower. The Risk Management Team shall thoroughly explain the terms and conditions of the Funding Agreement to the Borrower as well as the disbursement process and repayment schedule scheme. This step includes the execution of the required Security Agreement as agreed upon by Flint and the Borrower, which may take the form of a Real Estate Mortgage, Chattel Mortgage, Cash Guarantee, and/or any other type of security to safeguard the loan.
• CROWDFUNDING PHASE – After the Borrower has completed all required loan documentation, the proposed project will be posted on Flint’s crowdfunding platform and will be accessible for crowdfunding to all Flint’s registered Investors. For the benefit of the Investors, all relevant information pertaining to the project as well as the Borrower will be made available on the platform.
• DISBURSEMENT FUNDS – Flint shall direct the Bank holding the crowdfunded amount in trust to disburse such amount to the Borrower once the crowdfunding goal is reached on the platform. Flint and the Borrower shall immediately accomplish any and all requirements needed by the Bank for such disbursement.
• MONITORING – Following the disbursement of the crowdfunded amount to the Borrower, the Risk Management Team will take steps to identify potential risks arising from the Borrower’s side, which may include, among many other items, the possibility of loan default. Such as:
  • Monitoring Project Development
  • Monitoring Status of Post Dated Checks (PDCs)
  • Weekly Report on Project Development
  • Periodic Project Site Visitation – for the duration of the loan

Despite the fact that Flint conducts such risk assessments and management, it expressly states that it does not guarantee the profitability of any project offered for crowdfunding on its platform. As with all other types of investments, the risk is ultimately borne by the Investor. Flint, on the other hand, acts to reduce or mitigate the risk of the Investors not only through the aforementioned risk assessments and management, but also by securing each offered project with sufficient collateral from the Borrower. This contributes to a safer investing environment for investors who use Flint’s crowdfunding platform.

Flint’s crowdfunding platform only connects Borrowers looking for capital for real estate projects with Investors looking to crowdfund such projects in exchange for a return on their investment. Flint, as a platform, does not own any of the projects being offered for crowdfunding, nor does it invest in such projects. Flint, on the other hand, permits the crowdfunding activity, which is “the practice of obtaining needed funding by soliciting contributions from a large number of people especially from the online community”, to be done through its platform. As a result, one of Flint’s primary functions is to pool the crowdfunded target amount raised from Investors and release such amount to the Borrower, subject to such terms and conditions as allow Investors to reasonably expect a return on investment from the Borrower in the form of repayment of the principal contributed amount plus interest.

In order to do so, it is necessary for Flint to pool the crowdfunded amount from its Investors and release the same to the Borrower. Flint performs this function by holding the crowdfunded amount in trust via a Bank Trust Account that is exclusively used for the crowdfunding activity. A crowdfunded amount is then loaned to the Borrower under terms and conditions that secure the loan and ensure repayment plus interest. Flint’s prior risk assessment and management when qualifying which projects are offered to Investors for crowdfunding on its platform is a consequence to this process.

• Borrower shall pay directly to Flint by issuing post-dated cheques (PDCs) in the amount of the payment schedule. Furthermore, the borrower warrants that all post-dated cheques issued in favor of Flint and in payment of the obligations under this Agreement are funded and in an open account.
• A land title is oftenly used as collateral to guarantee the loanable amount. Once the property has been evaluated and determined to be eligible for crowdfunding, Flint will notify and contact the borrower. Flint will publicize your property/offer project’s to crowdfund on our online platform. This type of deal will be made to registered platform users who are also investors.

It is a practice of funding a project by raising many small amounts of money from a large number of people