Asialink extends P12.6B in loans, mostly to SMEs, in 2023

Asialink Finance Corp. extended loans over P12.6 billion in 2023 and projects to top it this year as it grows its customer base and resources.

It reported growing its loan portfolio month after month last year as it signed up more small and medium companies that need funds to finance their growing businesses. The company claimed generating some 29,500 new borrowers last year.

To serve these customers, Asialink partnered with some of the country’s largest banks and investment firms and raised P2 billion from a corporate note issuance arranged by RCBC Capital and SB Capital with the Rizal Commercial Banking Corp,, Security Bank Corp., EastWest Bank, Philippine Bank of Communications and Union Bank of the Philippines as note holders.

It also raised P1 billion from Yuanta Saving Bank and the state-run Small Business Corporation.

According to Asialink, these transactions opened a new window for 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 chief executive officer Robert B. Jordan Jr..

According to Jordan, Asialink looks to gain more market share by partnering with dealers selling brand-new cars and trucks across the Philippines, as well as on-board 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,” he said.

Asialink was named as the 2023 Financing Company at the prestigious Asian Banking and Finance Awards. Asialink was formed in June 1997 with a capital of only P3 million.