A partnership with a government lending institution Small Business Guarantee and Finance Corp. to provide small businesses financial assistance for their systems requirements is in the works. This loan facility is expected to be ready by 2006.
This is how it works: e-MBM evaluates its clients belonging to the SME’s to determine who qualifies for a loan, and on the strength of e-MBM’s recommendation, a qualified entrepreneur can borrow from SBGFC anywhere between P50,000 and P200,000 for his office productivity tools.
To qualify, an entrepreneur has only to present proof that his business has been viable for the last two to three years! The rates are lower than what banks normally charge, and a micro entrepreneur may not be required to present collateral because his business is endorsed by a partner organization of SBGFC.
For more detailed information on SBGFC loan facilities and the requirements, you may visit e-mbm financial assistance page. |