Tuesday 16 October
Powered by Ajaxy
Nov 17, 2017 @ 18:08

Central bank opens credit facility for SMEs in Batangas


Batangueño start-ups now have a new borrowing platform.

The Bangko Sentral ng Pilipinas (BSP) has opened a credit surety facility (CSF) in Batangas, teaming up with Governor Hermilando Mandanas to open the new borrowing platform for local businessmen.

Under the facility, small and medium enterprises (SMEs) in the province can join the local cooperative and pool their funds together. The provincial government and the Development Bank of the Philippines, Land Bank of the Philippines and Industrial Guarantee and Loan Fund will then put additional funds in the cooperative.

Some 21 firms contributed P3.35 million to the fund, which was matched by the Batangas Provincial Government with a P5-million pledge.

The CSF cooperative will then stand to guarantee bank loans sought by member-SMEs, effectively raising their chances to borrow money.

Batangas is the 51st site of the credit surety fund in the country.

Please follow and like us:

Tags: , , , , , , , , ,

Related Stories
Finance Secretary Carlos Dominguez III said the surge in foreign direct investments (FDIs) in the
A budding partnership between the Rizal Commercial Banking Corp. (RCBC) and two banks under Resona
Starting July 1, Philippine-made travel goods such as bags and wallets, can enter the United
Deep below the ancient volcanoes scattered around the Philippines sits a simmering stockpile of intense


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.