The Asian Development Bank (ADB) is willing to granting US$40 million worth of loans to help develop the country's small- and medium-sized enterprises (SME) sector. The Small Business Guarantee and Finance Corp. (SB Corp) requested the loan package, which it plans to use for discounted lending to SMEs.
SB Corp. is an agency attached to the Department of Trade and Industry and assigned with providing easy and cheap credit access to SME entrepreneurs. One of its services is ‘SME FIRST’, financing for receivables transactions, providing advances to SMEs to sustain their operations while they collect their receivables from clients.
Beneficiaries are suppliers to supermarkets and department stores, which normally take months before they pay their suppliers.
