The government’s Pondo sa Pagbabago at Pag-asenso or P3 program will help battle “loan sharks” via an affordable and easily accessible financing program, the newly appointed president of state-owned Small Business Corporation (SB Corp) said.
Luna Cacanado was named on Monday as the new chief of SB Corp., which is the micro financing-arm of the Department of Trade and Industry (DTI).
She said a micro, small and medium enterprise (MSME) advocacy would level the playing field for those that lack sufficient capital to expand.
“We will push for MSME financing further to help create more entrepreneurs, spur economic growth that will provide jobs to Filipinos,” Cacanando said.
The Trade department said Cacanando, who retired earlier this year, was bringing with her more than three decades of experience in MSME development.
She was previously senior vice-president of SB Corp. and head of financing and capacity building sector.
Prior to joining SB Corp, Cacanando served as credit manager at the Guarantee Fund for MSMEs (GFSME) until its 2001 merger with Small Business Guarantee and Finance Corporation, which became SB Corp.