Banks allowed to buy more SME receivables
The Monetary Board has relaxed the single borrowers limit (SBL) on banks buying trade receivables from small and medium scale enterprises (SMEs).
The Monetary Board has relaxed the single borrowers limit (SBL) on banks buying trade receivables from small and medium scale enterprises (SMEs).
Philippine Export-Import Credit Agency's (PhilEXIM) total loan releases grew more than three times during the first half at P159.08 million, up from P49.03 million the same period in 2003.
Small Business Guarantee and Finance Corp. (SB Corp.) lent P1.42 billion to small- and medium-sized enterprises (SMEs) during the first half of the year, up by 57.05% from P908.75 million year-on-year.
San Miguel Corp. and Shoemart Inc. have approved the trading of their accounts payable to small- and medium-sized enterprises (SMEs) in a new electronic marketplace set up by the state-owned Development Bank of the Philippines.
The central bank's policy-making Monetary Board has approved a proposal to lift the moratorium on new bank branches provided that these will cater mainly to small- and medium-sized enterprises (SMEs).
Government agencies met at the central bank last week to discuss ways to spur banking lending to SMEs, which remains lethargic despite a government financing programme for the sector.
The trade secretary of the Philippines, Cesar V. Purisima, yesterday said more people should start up small- and medium-sized enterprises, particularly through franchising, to help rev up the economy and reduce poverty.
The Arroyo administration wants to triple government and private sector lending to small- and medium-sized enterprises (SMEs) in order to boost the business environment and encourage job generation.
Bangko Sentral ng Pilipinas (BSP) governor Rafael Buenaventura announced that the policy-making Monetary Board has approved a request from state-owned Development Bank of the Philippines (DBP) to exclude the banks' purchases of receivables, done t
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.