Asialink Finance Corp. and Creador, a Southeast Asian private equity firm, signed a P4-billion investment agreement to boost SME lending in the Philippines.
Asialink’s affiliates Global Dominion Financing Inc. and South Asialink Finance Corp. are also expected to benefit from Creador’s investment, amplifying its impact of more financial solutions for businesses across the country.
Asialink recognized the opportunity to expand its reach to the underserved market segment which consists of small business owners encountering challenges in securing financing through conventional financial institutions.
The collaboration between Asialink and Creador heralds a new era of growth and opportunity, promising to broaden access to SME funding throughout the nation, the two parties said in a statement.
Omar Mahmoud, managing director and country head of the Philippines at Creador said the collaboration with Asialink marks an exciting chapter for SMEs in the Philippines.
“Through our investment, we aim to unlock new avenues of growth and opportunity, empowering hardworking entrepreneurs to thrive in today’s dynamic business landscape while Asialink expands its footprint, particularly in Visayas and Mindanao, diversifies its offerings, and harnesses data-driven approaches to digitize its services,” Mahmoud said.
“Asialink has been instrumental to the thriving business community across the Philippines. However, we recognize that there is still a large underserved population who find it difficult to access proper funding for their businesses and participate fully in economic activity,” said Robert Jordan Jr., CEO of Asialink.
“With SMEs being the backbone of our economy, we are committed to being their partner in providing easy and convenient funding solutions. With this partnership, we are poised for remarkable expansion, aiming to open 97 new stores across the country by the end of 2024,” said Jordan.
Asialink, with 153 branches nationwide, offers a diverse range of financial products tailored to meet various needs, including mortgage of existing cars and trucks, financing of used and brand-new vehicles and mortgage and financing of real estate properties.