(Unsplash) Davao City 1st district Rep. Paolo Duterte has highlighted the need for a law that would regulate the collection practices of debt collectors--including "microloan apps"--in a bid to protect borrowers from abuses, harassment, unfair treatment, and misrepresentations. For this purpose,...
Ayala-led ACEN Corporation will be issuing $352 million worth of corporate guarantees as a support to loan payments of ACEN Cayman, one of its subsidiaries. The corporate guarantee has been approved by the company’s board of directors in their special meeting at the Grand Hyatt Hotel on Wednesday,...
Jose Ma. “Joey” Concepcion III said that “nano enterprises,” which are smaller than micro establishments, play a big part of the domestic economy as they are rapidly mushrooming because of digitalization. At the Laging Handa, Public Briefing, the chairman of Asean Business Advisory Council...
As the Philippine economy steps up on its recovery journey from the scourge of the coronavirus pandemic, the National Electrification Administration (NEA) has extended credit facilities to electric cooperatives (ECs) that would the P1.2 billion-level approved last year. According to the...
Loans granted by the Small Business Corporation's (SBCorp) to pandemic-affected micro, small, and medium enterprises (MSMEs) as of Dec. 2 this year reached P8.2 billion, exceeding the P8.08 billion transferred or downloaded to it by the Department of Budget and Management (DBM) based on Bayanihan 2...
Editorial At the height of the pandemic, the Philippine government had to take out loans just to have the available funds for crisis spending. At first glance, there is nothing wrong here — cash is needed to purchase life-saving vaccines, procure medicines for the critically ill, and stock on...
The Development Bank of the Philippines (DBP) loaned P500 million to a Cavite-based healthcare institution to build a hospital to serve the municipality of Alfonso and nearby towns. The credit assistance to Ridgeview Hospital and Medical Center, Inc. (RHMCI) comes under the bank's Strategic...
Tala introduces an evolution of the online lending platform’s microloan services to Filipino consumers with the groundbreaking New Tala Loan. (Top) Luigi Jacinto, Tala Philippines associate marketing manager; and Donald Evangelista, Tala Philippines general manager. (Bottom): Missy Santos, Tala...
Over P24.09 billion worth of loans has been disbursed to 408,834 small farmers and fisherfolk from 2019 to 2022 and more are expected to benefit from the passage of the Republic Act (RA) 11901 or The Agriculture, Fisheries, and Rural Development Financing Enhancement Act of 2022, the Department of...
Former President Duterte borrowed P1 trillion in his final six months in Malacañang. Data from the Bureau of the Treasury showed that the national government’s net borrowings hit P1.021 trillion from January to June this year. This amount, however, was 40 percent lower compared with P1.719...
A zero interest rate on salary loans for government employees makes sense for Misamis Occidental 2nd district Rep. Ando Oaminal. (Mari Gimenez/ Unsplash) For this purpose, the Mindanao lawmaker filed House Bill (HB) 2199, which, if enacted, would institutionalize such provision for workers of the...
Leyte 1st District Rep. Martin Romualdez has filed the first bill in the 19th Congress, seeking to allocate P10 billion to two state banks to expand their lending capacities to micro, small, and medium enterprises (MSMEs) to help these recover from the Covid-19 pandemic. Leyte 1st District...
