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Asialink secures P300-M credit line

Business | Banking & Finance

Asialink secures P300-M credit line

By Bernie Cahiles-Magkilat

Asialink Finance Corp. announced it has secured a P300-million credit line facility from Taiwan’s Cathay United Bank, shoring up resources that small borrowers can tap into for their expansion plans.

“This latest partnership will allow us to sustain growth in our customer base. One of our strengths has always been our partner network, and the support we have been getting from our partners in Taiwan has just been tremendous,” said Apples Mangubat, Asialink president and chief operating officer.

Cathay United is the third Taiwanese bank to extend credit support to Asialink. The other two are CTBC Bank Philippines and Yuanta Savings Bank.

The Asialink-Cathay United agreement was sealed during a signing ceremony in March attended by Mangubat, Asialink CEO Robert Jordan, Asialink Chairman Ruben Lugtu II, and Cathay United regional head and EVP Arnold Kan.

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

“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 outreach and diversifying the sources that contribute to our lead generation efforts,” said Jordan.

Asialink released over P11 billion in loans in 2023, with monthly growth recorded throughout the year.

It had close to 27,000 new borrowers as 2023 drew to a close.

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