Asialink loan releases jump 38% to P12.6 billion

MANILA, Philippines —  Loans extended by Asialink Finance Corp. jumped by 38.1 percent to P12.6 billion last year from P9.12 billion in 2022, further boosting its lending portfolio.

The fast growing financing company in the Philippines attributed the strong growth to more small and medium enterprises borrowing funds to finance their growing businesses.

Asialink’s roster of new borrowers reached 29,500 last year and is expected to increase further this year.

Asialink CEO Robert Jordan Jr., in a statement, said that the financing firm aims to further growth its customer base and its resources in 2024.

Last year, Asialink partnered with various banks and investment companies, opening up a new window to small and medium companies with little to no access to traditional sources of funding.

It raised P2 billion from a corporate notes facility with Rizal Commercial Banking Corp. (RCBC), Security Bank, East West Banking Corp., Philippine Bank of Communications (PBCom) and Union Bank of the Philippines as note holders arranged by RCBC Capital Corp. and SB Capital Investment Corp.

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

The company is also expanding its portfolio and made its security process more robust, linking up with online car sales firm Carbay Philippines Inc. and CIBI Information.

“One of our strengths is in our partner network,”

Jordan said Asialink intends to gain more market share by partnering with dealers selling brand-new cars and trucks across the Philippines, as well as onboarding 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,” Jordan added.

Asialink has a repayment rate that is much better than that of banks.

Asialink was formed in June 1997 with a capitalization of just P3 million. It offers collateral and non-collateral credit loans that cater to the financial needs of businesses, particularly small and medium enterprises and individuals.

It has over 1000 employees.