Commercial bank to double SME loan window in 2018

FILE: PNB (Photo: Philippine National Bank, Fair use)

DAVAO CITY — A commercial bank, with 600 branches nationwide, will double its loan window facility in Southern Mindanao next year to give access to more small and medium entrepreneurs (SMEs).

Ariel Roca, assistant vice president and area head of the Philippine National Bank (PNB) in South Eastern Mindanao Area (PNB-SEMA), saidthe bank has several applications from SMEs wanting to avail of the loan package within his area.

The PNB-SEMA, he said, covers 19 branches in the Davao Region including Davao City. PNB is looking at the opening of more branches in Davao City in December and January 2018.

Although he did not give details on the amount of funds for loan package, he said the SME loan was launched nationwide in the second quarter of 2017 catering to industries with assets amounting to P15 million and below only.

The maximum loan is P3 million depending on the needs of the client while some industries only want loans for short term.

“We wanted this sector (SME) to really grow and we will be booking more in 2018,” he said. This is no-collateral loan “but we are very strict on their financial statement and the status of the business as we conduct actual inspection and assessment of the business right where it is located,” Roca stressed.

Roca was bullish on Davao’s economy with the coming of a lot of industries and increasing opportunities from construction to food business. (Digna D. Banzon/PNA)