May 18, 2019
The Small Business Corporation (SB Corp.) recently partnered with 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 Chief Executive Officer Ma. Luna Cacanando said in a statement.
Cacanando said 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 currently has 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. The interest rate and service fees are capped at 2.5 percent per month.
“Being the pioneer in outsourced bills payment collection, we have earned the confidence of the paying public,” Bayad Center President and Chief Executive Officer Manuel Tuason said.
“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,” he added.
Under the agreement, SB Corp. loan clients can now pay their regular loan amortization at the nearest Bayad Center starting in June.
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