In the dynamic landscape of the Philippine financial industry, Asialink Finance Corporation has emerged as a prominent player, empowering individuals and businesses to achieve their financial goals. Established in 1997, Asialink Finance Corporation has since become a trusted partner for Filipinos, offering a wide range of financial services and solutions. This article aims to explore the journey and impact of Asialink Finance Corporation in the Philippines, highlighting its commitment to fostering economic growth and financial inclusion.
Background and History
Asialink Finance Corporation was founded by Rommel Latinazo, a visionary entrepreneur who recognized the need for accessible and reliable financial services in the Philippines. The company began its operations with a focus on providing microfinance loans to small and medium-sized enterprises (SMEs), aiming to bridge the financing gap that hindered their growth. With a humble start, Asialink Finance Corporation soon gained recognition for its customer-centric approach and commitment to financial empowerment.
During the pandemic, Asialink Financial Corporation has provided qualified borrowers with a financial lifeline to help them stay afloat and overcome the impact of the lockdown.
Asialink Finance Corporation has been one of the lucky Philippine companies that managed to deliver stellar results even in such difficult times. Amid the pandemic, the company’s net income rose 142 percent as a result of the dual economic and health crises. The growth in numbers looks like this – from 215 million pesos in 2020 to 520 million pesos in 2021. It has assets of 10 billion pesos and revenues of 2.15 billion pesos.
In April 2023, ASIALINK Finance Corp. signed a partnership agreement with Union Bank of the Philippines, Inc. (UnionBank) to digitize its lending processes through UBX SeekCap.
The agreement aims to simplify loan processing for micro, small and medium enterprises (MSMEs) through a digital platform, thereby reducing costs and loan approval time.
The partnership will also help improve access to finance for MSMEs, as small businesses often find it difficult to get loans from banks due to strict regulations.
Services and Offerings
Over the years, Asialink Finance Corporation has expanded its portfolio to cater to the diverse needs of its customers. The company offers a wide array of financial services, including business loans, personal loans, salary loans, and auto loans. By providing flexible and tailored solutions, Asialink Finance Corporation has become a go-to institution for individuals seeking financial assistance for various purposes.
One of the key strengths of Asialink Finance Corporation is its ability to provide loans to individuals who may have limited access to traditional banking services. The conditions for providing loans are as favorable as possible for clients. So Asialink’s interest rate will depend on the type of loan. The interest rate on Sangla OR/CR loan will be no more than 1.5% per month. And the interest rate on a doctor’s loan is 1.75% per month.
Asialink Finance also offers favorable conditions for purchasing a used car on credit. The down payment is only 30% of the market value of the car. Loan term up to 4 years. Interest rate – 1.5% per month. However, there is a limitation – the car cannot be older than 15 years.
But Asialink Finance provides loans not only to individuals but also to small commercial enterprises. The company understands the unique challenges faced by small business owners and individuals with low credit scores. Through its inclusive lending practices, Asialink Finance Corporation ensures that financial opportunities are not limited to a privileged few but are accessible to all.
Commitment to Financial Inclusion
Asialink Finance Corporation firmly believes in the power of financial inclusion as a catalyst for economic growth. Recognizing that a significant portion of the Philippine population remains unbanked or underbanked, the company has taken proactive steps to bridge this gap. Asialink Finance Corporation has established strategic partnerships with various organizations and government agencies to extend its reach and impact.
In recent years, Asialink Finance Corporation has embraced digital transformation to enhance its services and improve customer experience. The company has developed an online platform that allows customers to conveniently apply for loans, track their applications, and manage their accounts. This digital shift has not only streamlined processes but has also made financial services more accessible to a wider audience.
Furthermore, Asialink Finance Corporation has leveraged technology to strengthen its risk management practices. By employing advanced analytics and machine learning algorithms, the company can assess creditworthiness more efficiently and make informed lending decisions. This not only benefits customers by expediting loan approvals but also ensures responsible lending practices.
Corporate Social Responsibility
Asialink Finance Corporation recognizes its role as a responsible corporate citizen and actively engages in various corporate social responsibility (CSR) initiatives. The company is committed to giving back to society and has undertaken projects that focus on education, healthcare, and environmental sustainability.
Through its scholarship programs, Asialink Finance Corporation supports deserving students who lack the financial means to pursue higher education. By investing in education, the company aims to empower the next generation of leaders and contribute to the nation’s development.
Additionally, Asialink Finance Corporation collaborates with healthcare organizations to provide medical assistance to marginalized communities. The company believes that access to quality healthcare is a fundamental right and strives to make a positive impact on the lives of those in need.
Asialink Financial Corporation has undoubtedly made a significant impact on the financial sector of the Philippine economy. Thanks to the combination of two important factors: a customer-centric approach and the introduction of digital technologies, Asialink Financial Corporation has become the undisputed leader among credit companies in the Philippines outside the banking sector.
Asialink Finance, through its commitment to financial inclusion and responsible lending practices, has enabled countless people and businesses to achieve their financial goals. Asialink Finance Corporation’s work is a testament to the transformative power of accessible and inclusive financial services, and it continues to play a vital role in driving economic growth in the Philippines.