State-owned Government Service Insurance System (GSIS) has issued guidelines for providing emergency loans (EL) to both active members and pensioners. In a memorandum dated Nov. 22, 2023, GSIS said eligible borrowers may receive emergency loans worth P20,000, and those with existing EL accounts who...
Government-run National Electrification Administration (NEA) reported that it extended P934.56-million worth of loans to at least 24 electric cooperatives (EC) as of end-October this year. The electrification agency emphasized that the released loans to ECs had been anchored on its Enhanced Lending...
Total loans extended by the National Electrification Administration (NEA) to at least 18 electric cooperatives (ECs) topped P560 million in the first half of the year. Based on data released by NEA’s Accounting Management and Guarantee Department (AMGD), the power utilities serving consumers in...
(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...
