By BusinessWorld,Cedtyclea

Copyright bworldonline

ASIALINK Finance Corp. has released P525.148 million in loans to over 1,000 entrepreneurs under its lending program for women-led businesses, its top official said on Wednesday.

Asialink President and Chief Executive Officer Samuel Z. Cariño said the company has approved 876 loans under its Women’s Access to Inclusive Support (WAIS) Loan program that was launched in June.

Nearly half of the total were car loans amounting to P250.3 million, followed by truck loans worth P70.1 million, Mr. Cariño said at an event on Wednesday, where Asialink introduced actress Jolina Magdangal as its first WAIS loan ambassador.

“We also see steady demand for brand new vehicle loans, both cars and trucks, proving that WAIS is flexible enough to support different needs whether for mobility, logistics, or business expansion,” he added.

The WAIS Loan program allows women-led micro, small and medium enterprises (MSMEs) to borrow up to P20 million with interest rates as low as 0.99%.

Asialink Chief Operating Officer Eleanor E. Yap said women entrepreneurs may avail of auto loans worth up to P2 million, payable within two years, and apply for real estate loans amounting to P20 million under a five-year repayment term.

Asialink said the program has benefited 1,025 women entrepreneurs nationwide and provided them with capital to expand their businesses, among others.

The average loan size per borrower is at P500,000, it added.

Mr. Cariño said women-owned MSMEs from various industries such as retail and agribusiness accounted for 57% of Asialink’s nearly P1-billion total loan portfolio as of end-August.

“Our growth shows the strong demand for financing solutions designed for women-led MSMEs, a sector that drives inclusive economic development,” he said.

“The success of WAIS and the trust of our MSME clients nationwide inspire us to keep creating financial solutions that help Filipinos grow their businesses and uplift their communities,” he added. “Moving forward, we aim to reach more women entrepreneurs, equipping them with the right financial tools as they shape a better future.”

The WAIS Loan program is partly funded by the financing facilities that Asialink secured from the International Finance Corp. (IFC) and the Asian Development Bank (ADB) that aim to boost support for small businesses in the Philippines, particularly those owned or led by women.

In January, it received a $130-million credit facility from the IFC, the private sector lending arm of the World Bank Group. In December last year, it signed a $115-million financing package with the ADB to expand its working capital.

Asialink disbursed over P15.5 billion in loans in 2024, with 77% of the total supporting MSMEs. The company targets to reach P24 billion in loan releases this year, Mr. Cariño earlier said.

He also said that he is optimistic that their net income will hit P2 billion this year, up from P1.1 billion in 2024.

Asialink secured a P4-billion strategic investment from Malaysian equity firm Creador in February last year. — Katherine K. Chan