Asialink Finance Corp. released over P12.6 billion in loans in 2023 and expects 2024 to be even better as it grows its customer base and its 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 struck up 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.
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.
“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.
