Some P10 billion will be lent in wholesale and retail lending to small- and medium-size enterprises (SMEs) during the second half of 2003. "There is a deluge of applications and we are confident that we will reach the P10 billion mark," Small Business Corp (SB Corp) chair, Zorayda Amelia C. Alonzo, said during the opening of the Philippine Business Trade Fair last week.
Alonzo said the SB Corp and its partners, comprised of other government financial institutions, lent some P6.5 billion in wholesale and retail loans for SMEs in the first five months this year.
The SME lending programme involves seven government financial institutions (GFIs): the Land Bank of the Philippines (LBP), the Development Bank of the Philippines (DBP), the Quedan and Rural Credit Guarantee Corp. (Quedancor), the National Livelihood Support Fund (NLSF), the Philippine Export Import Credit Agency (PhilExim), the Social Security System (SSS) and the SB Corp.
