Small Business Corporation approved a Php 10 million microfinance credit line for Bayan Muna Small Enterprise Development Foundation (BMSEDF)

Small Business Corporation approved a P 10 million microfinance credit line for Bayan Muna Small Enterprise Development Foundation (BMSEDF) Associates Cooperative. BMSEDF Associates Cooperative was registered with the Cooperative Development Authority (CDA) in June 2006 as a multipurpose cooperative for the employees of BMSEDF, a non-government organization. As of December 31, 2008, the cooperative’s assets amount to P 47 million with P 26 million loan portfolio.

The agreement was signed by SB Corporation chairman and CEO, Virgilio R. Angelo (2nd from left), BMSEDF Associates Cooperative chairman Jaime Valdez Jr. (3rd from left)). Witnessing the signing are SB Corporation president and COO Benel P. Lagua (far left) and BMSEDF Associates Cooperative general manager Astrid s. Mendoza (far right).

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