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Wednesday, April 17, 2024

Asialink raises P1.8b to fund ‘sangla’ business

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Asialink Finance Corp. raised P1.8 billion from various banks to fund its “sangla” business with cars and trucks as collateral.

“Demand for quick loans from small and medium business owners and individuals have always been high and we have always been there to meet their needs. This year, as we recover from the pandemic, that demand is even higher,” said Asialink president and chief operating officer Apples Mangubat.

She said the company offers quick processing with the least required documentation and steps, which Asialink customers find convenient. “Most of our customers won’t qualify for bank loans while banks are not designed for this business. So we bridge that gap, partnering with banks in effect and lending to the end borrowers”, she said. Asialink also offers competitive rates and has 94 branches all over the country, making its services affordable and accessible.

Among the lenders that provided Asialink P1.8 billion this year are the Development Bank of the Philippines, Philippine Business Bank, Small Business Corp., Philippine Veterans Bank, Cebuana Lhuillier Bank, CTBC Bank, EastWest, UnionBank, Robinsons Bank and Chinabank.

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