SOME 22 entrepreneurs availed of the loans offered during the Financing Forum for Micro-, Small and Medium-sized Enterprises (MSMEs) organized by the Department of Trade and Industry Negros Occidental through the Negosyo Center Bacolod City, July 27.
Held at the SM City Bacolod Atrium, a total of 114 MSMEs from the Cities of Bacolod, Bago, Cadiz, Kabankalan, Silay, Talisay, and Victorias along with delegates from the Binalbagan, Hinigaran, Murcia and Pontevedra towns joined the activity.
This forum aimed to gather financing institutions (FIs) such as commercial banks, network banks, and cooperatives to match their loan offers with MSMEs who are in need of quick cash to cover the business' expenses, or those who need long term credit for expansion acquisition of new equipment.
Some MSMEs immediately processed their loan requirements after the forum.
Meanwhile, 12 business owners opened new bank accounts for their enterprises.
DTI Negros Occ. invited Eastwest Bank, Land Bank of the Philippines, Small Business Corporation, Dunganon Bank, Inc. (NWTF), and BDO Network Bank to present their financing options to interested business owners.
The invited FIs discussed their loan products, credit facilities, and terms and conditions for MSMEs preference and capacity to pay.