photo (from L-R) 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
Cacanando and SB Corp Board of Director Santiago Lim.
Corp partners with Bayad Center
May 17, 2019
MAKATI CITY – The
Small Business Corporation (SB Corp.), the financing arm of the
Department of Trade and Industry (DTI), recently partnered with the
country’s pioneer in outsourced bills payment collection industry
CIS Bayad Center, Inc. for its loans payment collection.
“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 Cacanando said.
Cacanando 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 has
presence even in rural areas.
The P3 Program now has
nearly 400 conduits and more than 80,000 micro borrowers nationwide.
Under the P3 Program, a
micro enterprise 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
“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 Tuason explained.
Through the partnership,
SB Corp loan clients can now pay their regular loan amortization at
the nearest Bayad Center starting this June.