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April 21, 2024

Asialink Finance Corporation raises P1.8 B for transport ‘sangla’ business

The bank aims to fund its collateral-based business for transport units.

Asialink Finance Corporation (AFC) has raised P1.8 billion from various banks to bolster its funding for its pawning business with vehicles as collateral to bridge the financing gap for SMEs. The bank said that tis decision was backed by higher demands for quick loans on SME owners needing transport services to mete their needs. AFC underscored that the new program will entail quick processing with less requirements and documentation.