Taiwanese bank grants Asialink P120-M SME fund

Asialink Finance Corporation has secured a P120-million credit line from Taiwan’s Mega International Commercial Bank Co. Ltd. as it aims to strengthen support for small and medium enterprises (SMEs).

“At the heart of this collaboration is our belief that inclusive financing leads to inclusive growth—because when small businesses succeed, local economies thrive,” said Asialink Finance Corp. president and CEO Sam Cariño.

The new SME funding follows Asialink’s $115-million financing package last year from the Asian Development Bank (ADB), HSBC, and Security Bank Corporation. In the same year, it also received P4 billion in funding from private equity firm Creador.

With capital from ADB alone, Asialink reported an increase in SME loan disbursements to P13 billion from P8.8 billion.

In January this year, Asialink obtained another $130 million from the International Finance Corporation (IFC) of the World Bank Group.

Asialink Finance Group of Companies founder and CEO Robert Jordan Jr. said the team aims to provide truck loans amounting to over P7 billion to support the country’s food logistics sector.

He also noted plans to expand loans to women entrepreneurs, who accounted for 44 percent of the company’s total borrowers in the first quarter of 2024.