Manila Times Business
Banks still not lending enough to small firms
BANK loans to micro and small enterprises remained below regulatory minimums in the first quarter, Bangko Sentral ng Pilipinas (BSP) data showed. Republic Act 6977, or the Magna Carta for MSMEs (micro, small and medium enterprises), requires banks to allocate at least 8 percent of their total loan portfolio for MSEs and 2 percent for medium enterprises (MEs). Microenterprises are firms with assets not exceeding P3 million, small enterprises are those with assets up to P15 million, while medium-s
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Source: manilatimes.net
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