Asialink Finance Corp has secured a P120 million credit line from Taiwan’s Mega International Commercial Bank Co., Ltd., as it aims to boost 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 chief executive officer Sam Cariño.

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

SME loans ramped up

With the capital infusion from ADB alone, Asialink had reported its SME loans had already increased to P13 billion from P8.8 billion.

In January of this year, Asialink acquired an additional $130 million from the International Finance Corporation of the World Bank Group.

Asialink Finance Group of Companies founder and chief executive officer Robert Jordan Jr. said his team aims to provide truck loans amounting to over P7 billion to support food logistics in the country.

He added that Asialink aims to expand loans to women entrepreneurs, who accounted for 44 percent of the lender’s total borrowers in the first quarter of 2024.