Asialink Finance raises £1.8bn from banks to fund Sangla car and truck business

ASIALINK financial corporation. (AFC) announced that it has raised 1.8 billion pesos from various banks to fund its “sangla” (collateral) business using cars and trucks as collateral.

Eileen B. Mangubat, President and COO of Asialink, said “Demand for quick loans from SMB owners and individuals has always been strong.”

“And we have always been there to meet their needs,” Mangubat said. “This year, as we recover from the pandemic, that demand is even higher.”

She said the company offers fast processing with the least amount of paperwork and steps required.

“Most of our clients cannot qualify for bank loans as banks are not designed for this business,” Mangubat said. “Therefore, we are bridging this gap by actually cooperating with banks and lending to end borrowers.”

She said Asialink also offers competitive rates and has 94 branches across the country, making its services accessible and accessible.

Asialink has been in this business for 25 years and has earned the trust of many banks that readily provide the necessary funds.

Lenders that provided Asialink with 1.8 billion pesos this year include the following: Development Bank of the Philippines; Philippine Business Bank; Small Business Corporation; Philippine Veterans Bank; Bank of Cebuan Luillier; Bank CTBC; East-West; Union Bank; Robinson Bank; and Chinabank.

Asialink was formed in June 1997 with a capitalization of just 3 million pesos. Today it has assets of over 10 billion pesos, over 800 employees and thousands of independent loan advisors in the Philippines.

“We are focused on providing inclusive financial access. We want to grow with our clients and help them realize their dreams. We meet the unmet market demand and thus become part of their path to growth and success,” said Mangubat.