Asialink gets $300-million credit line from Taiwan’s Cathay United Bank

ASIALINK Finance Corp. has tapped Taiwan’s Cathay United Bank for a $300-million credit line to boost its resources in support of its client expansion plans.

“This latest partnership will allow us to sustain growth in our customer base. One of our strengths has always been our partner network, and the support we have been getting from our partners in Taiwan has just been tremendous,” Asialink President and Chief Operating Officer Eillen B. Mangubat said in a statement on Wednesday.

Asialink signed the partnership with Cathay United in March.

Cathay United is the third Taiwanese bank to provide credit support to Asialink, following CTBC Bank Philippines and Yuanta Savings Bank, the financing firm noted.

Asialink said its partnerships with these Taiwanese banks could allow individual lenders and small companies to gain access to traditional sources of funding.

“We are strategically expanding our network by actively seeking partnerships with both institutional entities and individual lead generators. This initiative is geared towards broadening our outreach and diversifying the sources that contribute to our lead generation efforts,” AsiaLink Chief Executive Robert B. Jordan, Jr. said.

Asialink released over P12.6 billion in loans in 2023. This was driven mainly by its growing customer base as the company recorded over 29,500 new borrowers.

The financing firm previously said it expects to sustain its growth in new borrowers and loans this year through partnerships with institutional entities and individual lead generators. — A.M.C. Sy