MANILA, Philippines —Asialink Finance Corp. released more than P12.6 billion in loans in 2023 and expects 2024 to be even better as it grows its customer base and resources.
The company said the amount of loans it released grew month after month in 2023 as it signed up more small and medium companies that need funds to finance their growing businesses.
It said it had close to 29,500 new borrowers as 2023 drew to a close.
To serve these customers, Asialink forged partnerships with some of the Philippines’ largest banks and investment firms.
It raised P2 billion from a corporate notes facility with RCBC, Security Bank, EastWest Bank, Philippine Bank of Communications 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 Corp.
New window for SMEs
These deals are now opening up a new window to small and medium companies with little to no access
to traditional sources of funding.
READ: Asialink ties up with CIBI as it expands SME lending
To also expand its portfolio and make its security process more robust, Asialink linked up with online car
sales firm Carbay Philippines Inc and CIBI Information.
“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.
READ: Asialink eyes bigger share of consumer financing mart
“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.
Asialink was named as the 2023 Financing Company in the prestigious Asian Banking and Finance
Awards. Asialink was formed in June 1997, with a capitalization of just P3 million.