Loan portal for local SMEs unveiled

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[/caption] The Department of Trade and Industry (DTI) and the Finex Foundation for Entrepreneurship Inc. (FFEI) developed the loan portal known as SMEplus, which was unveiled on Wednesday, July 18, at the Peninsula Manila Hotel in Makati City. Although the site has been officially launched, a Finex executive said the portal is still undergoing refinement and will be made online in a few days. Through this Internet-based portal, MSMEs can easily post their loan requests while lenders may view and directly communicate with borrowers regarding the provision of loans. They can also conduct a search for fellow entrepreneurs, service providers, lenders, consultants, and other capacity-building programs for MSMEs. Broadband firm Eastern Communications is hosting the SMEplus website as part of its advocacy to help in the growth of MSMEs. FFEI, which will manage and operate the Web portal, will provide financial consultants who are available to assist and mentor MSME owners in loan application, documentary preparation, financial advisory and other business services at the Roberto F. De Ocampo Center for Financial Excellence, Unit 1901, 139 Corporate Center along Valero St., Makati City. Coinciding with the event was the launch of the new MSME Access to Finance Program. A memorandum of understanding was signed by government financial institutions (GFIs) and participating agencies such as the Department of Social Welfare and Development (DSWD) and the National Anti-Poverty Commission (NAPC). Collaborating with the DSWD and NAPC in this project are GFIs led by Small Business Corporation, Development Bank of the Philippines, Land Bank of the Philippines, Government Service Insurance System, and Social Security System. On the other hand, private financial institutions led by Philippine National Bank (PNB) will make up the other side of the equation ? the founding partners and pioneering participating banks that include BPI Family Bank, Security Bank, DBP, EastWest Bank, Philippine Business Bank, Plantersbank, GM Bank and Small Business Corporation. These lenders will have access to all the MSMEs registered in the SMEplus loan portal. ]]>

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