SB Corporation Taps 3 Loan Collection Firms for Efficient Loan Collection

The Small Business Corporation (SB Corporation) partnered with three loan collection firms to aid the government lending agency in collection/recovery of accounts receivable payments from SB Corp micro, small and medium enterprise (MSME) borrowers in the Caloocan, Malabon, Navotas, and Valenzuela (CAMANAVA) area, Cavite, Laguna, Batangas, Rizal, and Quezon (CALABARZON) Region, Mindoro, Marinduque, Romblon, and Palawan (MIMAROPA) Region, and Bicol Region. To ensure efficient and seamless collection of payments from MSME borrowers SB Corp tapped the services of Receivers and Liquidators, Inc., Anchor Collection Services, and Alexis A. Molaer Law Offices. “We welcome the partnerships and we thank our new partners for joining us and helping us in our loan collection activities. We hope that this relationship will be beneficial for all parties and will last for many years,” SBCorp President and CEO Ma. Luna Cacanando said.

In photo are (from L-R): Receivers and Liquidators Vice President & COO Susima Yngson, SBCorp President and CEO Ma. Luna Cacanando, Anchor Collection Services President and General Manager Imelda Ebora and Alexis A. Molaer Law Offices General Manager Jonathan Molaer.

DTI Chief and SB Corp Chairman Convenes SB Corp Board of Directors

Department of Trade and Industry (DTI) Secretary and Small Business Corporation (SB Corp) Chairman Ramon Lopez on September 13, 2019 convened the Corporation’s Directors and Officers to discuss SB Corp’s loan programs for micro, small and medium enterprises (MSMEs), especially the administration’s landmark program Pondo sa Pagbabago at Pag-asenso (P3). The P3 program has extended financing assistance to over 96,000 micro entrepreneurs as the government's flagship program that aims to topple loan sharks has widened its reach throughout the country since its inception in 2017. As of September 16, 2019, the SB Corp has released a total of P3.3 billion worth of loans to micro entrepreneurs through its 378 credit delivery partners that has reached rural and far-flung areas in the country. Under the P3 Program, a micro enterprise can borrow between P5,000 up to P200,000 depending on its business need and repayment capacity with no collateral requirement.  Interest rate and service fees, all in, do not exceed 2.5% monthly. The P3 Program serves as an alternative to the P30 billion “5-6” money lending industry that charges 20% nominal interest rate to MSMEs. Led by SB Corp Chairman and Trade Secretary Lopez (center, seated), in photo are (seated from L-R) SB Corp Director Merly Cruz, SB Corp President and CEO Ma. Luna Cacanando, DTI Undersecretary for Regional Operations Blesila Lantayona, and Department of Finance Representative Reina Cuarez. (Second row) Directors Joe Jay Doctora, Santiago Lim, Benel Lagua, Ferdinand Tolentino, and Manuel Bendigo.