BanKo senior vice-president Rod Mabiasen said during the “Lending Solutions for MSMEs Webinar Series” that the bank decided to optimize lending to “micropreneurs.”.The webinar was organized by the Philippine Chamber of Commerce and Industry.
“This means small entrepreneurs were given more push with about P7 billion of financial support available this year to help them recover from the impact of the pandemic,” he said.
BanKo provides financing from P25,000 to P150,000, all collateral-free, to micro and small enterprises. With the pandemic, it scaled-down expansion, but increased its loan portfolio to P7 billion to accommodate more entrepreneurs.
The bank is weighing plans to add five branches this year.
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.