Small and Medium Enterprise Credit
Small and Medium Enterprise Credit
Credit must be affordable, timely and innovative to be truly empowering.
The Small and Medium Enterprise Credit (SMEC) Program, is PBSP Development Finance’s flagship wholesale lending program that aims to assist accredited rural and thrift banks and microfinance institutions increase their loan portfolios to Micro, Small and Medium Enterprises (MSMEs).
With its objective of enhancing institutional capacity of accredited intermediary financial and microfinance institutions through wholesale credit financing and business support services and increasing MSMEs’ access to financial and business development services, the Program disbursed a total of PhP192M in loans, which benefitted 2,359 MSMEs in the countryside for this fiscal year.
Rural and cooperative banks in the SMEC roster of conduits availed 47% of the total SMEC Funds, thrifts banks took in 33% and microfinance NGOs at 20%. SMEC’s small contribution in the provision of credit in the countryside generated some 2,333 jobs, mostly in the agriculture and trading industries.