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Quick loan with an online application ; Conventional financing ; Owner-occupied or investment property ; Government-backed loans ; Essential business asset financing ; PPP loan forgiveness

Credit scoring model for small businesses launched | Inquirer Business

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 ...

Pros And Cons Of A Business Bank Loan

Business bank loans offer large amounts and favorable terms, but they may be out of reach for some small businesses.

SBA Loans | Small Business Administration | U.S. Bank

Key benefits: ; Loan amounts up to $5 million ; Terms up to 10 years for business acquisition, equipment or tenant improvement ; Terms up to 10 years for working capital and inventory

PH banks fail to meet mandated lending to MSMEs, again

Rural and cooperative banks continued to do the heavy lifting in extending loans to micro, small and medium enterprises (MSMEs), as the entire Philippine banking industry failed again to meet its lending quota for the industry deemed as the backbone of the economy. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed total loans of the local banking sector to MSMEs amounted to P488.13 billion in the three months ending in June, up by 5.8 percent compared with a year ago. However, that amount of credit only accounted for 4.52 percent of ...

PH balance of payments position back to surplus in 2023

MANILA —The Philippines’ balance of payments (BOP) position returned to a surplus in 2023, which even exceeded the Bangko Sentral ng Pilipinas’ (BSP) more optimistic projection amid strong inflows from key sources. Data released on Friday by the BSP showed the country’s position in terms of its transactions with the rest of the world swung to a $3.7 billion surplus last year, a turnaround from the $7.3 billion deficit recorded in 2022. A surplus arises when more foreign payments enter the economy compared to those that left, giving the ...

China Bank unit sees another banner year; H1 earnings up | Inquirer Business

The thrift banking arm of Sy family-led China Banking Corp. is seeing another banner year after its earnings in the first semester grew by 18 percent to P1 billion on the back of its expanding loan portfolio. China Bank Savings (CBS) on Friday said they were already nearing their 2023 full-year record earnings of P1.8 billion. Gross loans in the first half of the year expanded by 22 percent to P125.8 billion, buoyed by growth in consumer and automated payroll deduction (APD) loans. CBS offers APD loans to teaching and nonteaching personnel of e ...

Gov’t set to bid out stake in UCPB | Inquirer Business

The government is preparing to auction off its controlling stake in United Coconut Planters Bank to allow the bank to structure its recapitalization program and chart its future growth. ; UCPB chair Menardo Jimenez confirmed that the bank had mandated Standard Chartered to look at the feasibility of privatizing government-sequestered shares in UCPB. ; Once ready for the auction, Standard Chartered will then draw up the term sheet to invite potential strategic investors. ; “We have mandated to dispose (the sequestered shares) under a bidding process. Standard Chartered is now doing the study,” Jimenez told the Inquirer on the sidelines of the annual reception for the banking community hosted by Bangko Sentral Governor Amando Tetangco Jr. Friday night.

Unionbank earnings grew 6% to P8.6B in first nine months

The earnings of Aboitiz-led Union Bank of the Philippines in the first nine months of the year inched up by 6 percent to P8.6 billion on the expansion of its consumer portfolio. ; In a stock exchange filing on Monday, Unionbank said its net revenues reached a record P57.7 billion, up by 9.2 percent. ; READ: UnionBank pumps P1.6 billion more into digital ; Net interest income, meanwhile, expanded by 14.2 percent to P42.6 billion. Consumer loans accounted for 60 percent of its loan portfolio, which Unionbank pointed out was thrice the industry average.

Banks say conditions for business and consumer loans will get tougher

for loans amid tightening standards across all business sizes. Commercial real estate also... The Fed hiked its key interest rate another quarter percentage point at the meeting, taking it...

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