SB Corp. eyes ‘tailor-made’ loan facility for exporters

The Small Business Corporation (SB Corp.), an attached agency of the Department of Trade and Industry (DTI), plans to launch a loan facility to meet the needs of specific sectors, particularly exporters.

SB Corp. board director Voltaire Magpayo said the administration would create a "tailor-made" loan facility "maybe next month."

"Kung halimbawa ikaw ay exporter, gagawa kami ng loan facility na akma sa iyong pangangailangan katulad ng export packing line… very specialized sa pangangailangan ng segment ng industriya," Magpayo said on the sidelines of Saturday News Forum at Dapo Restobar in Quezon City.

(For example, if you are an exporter, we will create a loan facility that is appropriate for their needs, such as an export packing line… very specialized for the needs of the segment of the industry.)

"So magkakaroon kami ng specific loan, [especially for] exporters," he said.

(We will be having a specific loan facility, especially for exporters.)

The SB Corp. director said the interest rate for the planned loan facility will be 7% to 12% per annum.

The state-owned firm offers several low-interest and collateral free loan programs for micro, small, and medium enterprises (MSMEs.) —VBL, GMA Integrated News