Asia United Bank (AUB), owned by the Rebisco Group’s Ng family, has provided Fruitas Holdings Inc. with a credit facility amounting to P280 million to support the growth of kiosk king Lester Yu’s food and beverage businesses.
Recognizing the significant contribution of the food and beverage industry to the local economy, AUB has tailored this credit facility to empower the House of Fruitas. The funds will enable the company to strengthen its business systems, expand its product line, and enhance its store network.
Through this credit facility, Yu’s House of Fruitas will have access to various financing options, including working capital loans, corporate fleet lines, and other lines of credit.
These flexible financial solutions will facilitate investments in research and development, improve store design and operations, optimize cash flow management, and implement innovative marketing strategies to reach a wider customer base.
“We seek to give small and medium-sized enterprises (SMEs) the resources they need through our different banking solutions to realize their full potential, spur innovation, develop new jobs, and advance the overall economic expansion of our communities,” said Ernesto Uy, EVP and Group head for Account Management at AUB.
“Fruitas Holdings exemplifies the entrepreneurial spirit, integrity, and innovation that we admire. We recognize the efforts of the company in revolutionizing the food and beverage landscape by offering healthy options to consumers and franchise entrepreneurs alike,” added Uy.
