The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (Jica) have jointly launched the Credit Risk Database Scoring Model to help lenders better assess the creditworthiness of small and medium enterprise borrowers, including those without credit history or adequate collateral. According to BSP Governor Felipe Medalla, this latest tool for banks was intended to bridge the funding gap for micro, small and medium enterprises (MSMEs) while enhancing the credit risk management of financial institutions using a data-dri ...
A state-owned company under the Department of Trade and Industry (DTI) is opening a P1-billion loan facility that will be made available to micro and small companies when the quarantine is lifted. Small Business Corp. is setting up the fund under a loan program called Pondo sa Pagbabago at Pag-asenso, which the Duterte administration had earlier launched to help small businesses and prevent them from resorting to loan sharks. The facility is called P3-ERF (enterprise rehabilitation financing), a...
BERLIN -About one in four German companies currently seeking new loans are reporting restraint from lenders as high inflation and concerns over energy supply rattle Europe’s largest economy, according to a survey published on Monday. The figure – 24.3 percent – is the highest seen since 2017, said the Ifo institute, which conducted the survey. “The difficult economic climate is currently making banks more cautious,” said Klaus Wohlrabe, Ifo’s head of surveys. “Without new loans, some companies might struggle for economic survival, ...
has assured members of the country’s largest business organization, the Philippine Chamber... The government also improved access to finance for Filipino micro, small, and medium...
The Bangko Sentral ng Pilipinas (BSP) wants small cooperatives and small businesses to have better access to loans that...
With a major deadline to repay a pandemic era loan on the horizon, Rod Castro says he feels like he's performing a "juggling act" while trying to figure out the best way forward. "I haven't written myself a paycheck or cashed a paycheck in about three months," he told CBC News. "Right now, all we're doing is just trying to keep every single dollar in the business." · Castro owns two restaurants in Ottawa — 10 Fourteen and Pubblico Eatery. Like many small business owners, he took out a Canada Emergency Business Account (CEBA) loan to help cov ...
Business News Daily spoke with finance experts to answer these nine FAQs about small business loans.
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MANILA -Union Bank of the Philippines registered a weaker bottom line in the January-September period despite stronger revenues as expenses ballooned following the acquisition of Citi’s consumer business and rollout of its digital-only banking arm. On Tuesday, the Aboitiz-led bank announced its net income amounted to P8.1 billion in the first three quarters, lower by 19 percent than the P10.09 billion it booked in the same period last year. Net revenues climbed by 48 percent to P52.8 billion during the period as net interest income grew by 34 ...
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