Small Business Corporation (SB Corp.), the financing arm of the Department of Trade and Industry (DTI) partners with the country’s pioneer in outsourced bills payment collection industry, CIS Bayad Center, Inc. for its loans payment collection.
“Being the pioneer in outsourced bills payment collection, we have earned the confidence of the paying public; With Bayad Center's network, SB Corp’s clients can now pay their loan amortization conveniently at any Bayad Center Branches and Authorized Partners nationwide,” Bayad Center President & CEO Manuel L. Tuason explained.
Through this partnership, SB Corp loan clients can now pay their regular loan amortization at the nearest Bayad Center starting this June.
“Having an accessible and reliable payment facility is very important to the MSME sector. With this recent partnership, our MSME clients will have access to a payment facility near them with longer business hours than that of most banks,” SB Corp President and CEO Ma. Luna E. Cacanando says.
Cacanando also added that with the Pondo sa Pagbabago at Pag-asenso (P3) Program in full swing, SB Corp needs a loan collection partner that is known to many and is present even in the rural areas.
The P3 Program now has nearly 400 conduits and more than 80,000 microborrowers nationwide.
Under the P3 Program, a microenterprise can borrow P5,000 up to P200,000 depending on its business need and repayment capacity without collateral.
For the loans, the interest rate and service fees are capped at 2.5 percent per month.
In photo (from left to right) are CIS Bayad Center, Inc. SVP & COO Francispito P. Quevedo, CIS Bayad Center, Inc. President & CEO Manuel L. Tuason, SB Corp President and CEO Ma. Luna E Cacanando and SB Corp Board of Director Santiago Lim. (Published May 20, 2019)