ADB spearheaded the initiative, with HSBC and Security Bank joining as key financial partners.
The package includes $50 million from ADB, $50 million from HSBC’s ASEAN Growth Fund, and $15 million from Security Bank, structured with the assistance of Paulton & Co.
Women-led enterprises
The deal is set to increase Asialink’s SME loans from P8.8 billion to P13 billion, dedicating over half to women-led businesses.
It aims to double the number of women borrowers to at least 20,000 and introduce tailored products to support female entrepreneurs.
Massive financing gap for small businesses
This move comes as the SME financing gap in the Philippines is estimated between P67 billion and P180 billion, with women disproportionately affected.
Only 24 percent of women-led SMEs use bank accounts compared to 50 percent of their male counterparts, and just 4 percent secure bank loan approvals versus 14 percent for men.
Management’s view
“This partnership with ADB marks a transformative milestone in Asialink’s mission to empower small and medium-sized enterprises across the Philippines, especially women-led businesses that remain underrepresented in the financial sector,” said Robert B. Jordan Jr., CEO of Asialink.
“We are optimistic that through this collaboration, we can continue to expand our presence nationwide, introduce personalized loan products, digitize and innovate our loan processes, and ultimately ensure that entrepreneurs have access to reliable financial solutions,” he added.
