SB Corp., 3 firms for payment recovery
Credit to Author: Anna Leah E. Gonzales| Date: Tue, 17 Dec 2019 16:23:07 +0000
THE Small Business Corp. (SB Corp.) has partnered with three loan collection firms to aid the government lending agency in the collection and recovery of accounts receivable payments from borrowers.
To ensure efficient and seamless collection of payments from micro, small, and medium enterprises (MSME) borrowers, SB Corp. tapped Receivers and Liquidators Inc., Anchor Collection Services and Alexis A. Molaer Law Offices.
SB Corp. said the three loan collection firms will help the government collect from borrowers in Caloocan, Malabon, Navotas, Valenzuela, Cavite, Laguna, Batangas, Rizal, Quezon, Mindoro, Marinduque, Romblon, Palawan and Bicol region.
“We welcome the partnerships and we thank our new partners for joining us and helping us in our loan collection activities,” SB Corp President and Chief Executive Officer Ma. Luna Cacanando said.
“We hope that this relationship will be beneficial for all parties and will last for many years,” she added.
SB Corp., through the Pondo sa Pagbabago at Pagasenso (P3) program, currently allows MSMEs to borrow P5,000 up to P200,000, depending on its business need and repayment facility.
The P3 program intends to give micro enterprises better access to finance, providing them an alternative to the informal or “5-6” scheme of lending.
No collateral requirement is needed, and interest rate and service fees do not exceed 2.5 percent monthly.