Small Business Corporation approves P 225 Million Credit Line for Banco de Oro

Small Business Corporation inked a P50 million microfinance tie-up with the Center for Agriculture and Rural Development (CARD) Bank, Inc. CARD Bank is the first rural bank in the Philippines to be able to grow from a microfinance NGO into a formal financial institution. It has microfinance portfolio of P779 M reaching more than 137,000 poor women clients in the provinces of Laguna, Quezon, Masbate, Mindoro and Marinduque.

The agreement was signed by SB Corporation chairman and CEO, Virgilio R. Angelo (2nd from left), CARD Bank chairman Jaime Aristotle B. Alip (3rd from left)). Witnessing the signing are SB Corporation president and COO Benel P. Lagua (far left) and Card Bank president and CEO Dolores M. Torres (far right).

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