The government has been asked by the Davao City Chamber of Commerce to increase available funds to the two existing programmes that provide lending windows for small- and medium-scale enterprises (SMEs) rather than create a new program that involves requirements such as collateral.
Romeo Serra, president the Chamber of Commerce and Industry and also the chairman of the Davao SME Council, asked Finance Secretary, Jose Isidro Camacho, to convince the government to pour in more capital to the Small Business Guarantee Fund (SBGF) and the Quedancorp.
Serra said that the new government program, called National SME Development Plan, has raised more questions among businessmen and interested business entrepreneurs. Among the questions raised was funding and the requirement for collateral.
