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Asialink sees better 2024, extends P12.6-B MSME loans last year

Business | Banking & Finance

Asialink sees better 2024, extends P12.6-B MSME loans last year

By Bernie Cahiles-Magkilat

Asialink Finance Corp. expressed optimism for a better 2024 on higher customer base after having released over P12.6 billion in loans last year mostly to small and medium enterprises.

The company said in a statement that the amount of loans it released last year grew month after month as more small and medium enterprises availed of funds to finance their growing businesses. It reported 29,500 new borrowers in 2023.

The growth was also driven by its partnerships with some of the Philippines’ largest banks and investment firms.

It raised P2 billion from a corporate notes facility with RCBC, Security, EWB, PBCOM and Unionbank as noteholders arranged by RCBC Capital and SB Capital. It also raised P1 billion from Yuanta Saving Bank and the state-run Small Business Corporation.

These deals are now opening up a new window to small and medium companies with little to no access to traditional sources of funding.

In addition, Asialink teamed up with online car sales firm Carbay Philippines Inc. and CIBI Information to expand its portfolio and make its security process more robust.

“One of our strengths is in our partner network,” Asialink CEO Robert B. Jordan Jr..

Jordan said Asialink is seeking to gain more market share by partnering with dealers selling brand-new cars and trucks across the Philippines, as well as on-boarding more dealers of second-hand vehicles.

“We are strategically expanding our network by actively seeking partnerships with both institutional entities and individual lead generators. This initiative is geared towards broadening our reach and diversifying the sources that contribute to our lead generation efforts,” said Jordan in the statement.

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