Rufino Gomez Jr., AsiaLink Group's head of truck loans, said the company sees great potential in the new and used truck market “as more and more people move from brick-and-mortar stores to digital markets.” He said there was.
MANILA, Philippines — Asialink Finance Corp. is looking to lend P2.4 billion this year to the booming market for new and used trucks, which are essential to the growth of e-commerce and logistics.
Rufino Gomez Jr., AsiaLink Group's head of truck loans, said the company sees great potential in the new and used truck market “as more and more people move from brick-and-mortar stores to digital markets.” He said there was.
“When you buy something online, a vast network of factories, warehouses and logistics companies are mobilized to get you the product you want quickly. Trucks play a critical role in this supply chain,” Gomez said. Ta.
Recovery and growth after the devastating COVID-19 pandemic is also fueling a boom in construction and manufacturing industries, which similarly rely on trucks to move raw materials and workers, Gomez said. .
To serve these markets, AsiaLink is allocating more funds to lending to small and medium-sized enterprises.
Over the past year, the company has provided loans to logistics, construction, transportation, freight forwarding and manufacturing companies.
Asialink finances the purchase of vehicles ranging from utility vehicles, light trucks, large trucks to specialty trucks through our partner new and used car dealers.
He said each borrower can secure a loan of up to P10 million at competitive interest rates.
These loans have interest rates of 1.1 to 1.3 percent per month and terms of up to 60 months for new trucks and vans and up to 36 months for used ones.
All Asialink requires is that the borrower be in business and profitable for at least one year.
AsiaLink disbursed more than P12 billion in loans in 2023, supported by an expanding customer base and key partnerships that provided loan funds. Nearly 27,000 new borrowers were booked.
