Asialink secures funding from Korean bank for small businesses

July 10, 2024
4:43PM PHT

In a milestone move, Asialink Finance Corp. has secured a P125 million credit line from KEB Hana Bank Global to enhance its lending resources for small-scale businesses in the Philippines.

This marks Asialink’s first financial partnership with a Korean bank. Asialink President and COO Eillen Mangubat highlighted this collaboration as a crucial step in diversifying funding sources for the largely unbanked business sector. 

In 2023, Asialink issued over P12 billion in loans to more than 24,000 new borrowers.

"This breakthrough collaboration with a South Korean bank marks a vital step towards strengthening further Asialink’s diversification of funding sources for relending to the largely unbanked business sector,” Mangubat said in a statement on Wednesday. 

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