Private businesses in Visayas and Mindanao having difficulty accessing commercial financing have the reason to rejoice for they have now the opportunity to get a grant that can be used to expand their business or diversity into a new line of business. Thanks to the Enterprise Challenge Fund (ECF) worth P640 million offered by the Australian government.

Any private enterprise could qualify to avail of the grant, except projects that involve alcohol, tobacco and gambling. Bidders also need to be able to prove that they are having difficulty obtaining commercial funding for the project. Government-owned and controlled corporations, local government units and non-governmental organizations are not qualified, but NGOs and LGUs may be partners in a consortium led by a business firm.

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Government Service Insurance System (GSIS) old-age and disability pensioners may now apply for a pension loan using their eCard Plus on the GSIS Wireless Automated Processing System (GW@PS) kiosks installed in all GSIS office and select government offices nationwide.
 
The pension loan may also be applied by old-age and disability pensioners over-the-counter in their servicing GSIS [...]

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Micro, small and medium enterprises (MSMEs) can now hope to get a bank loan without the necessary presenting acceptable collateral. The very first provincial Credit Surety Fund was launched in Trece Martires City in Cavite. And this program will be replicated in other province like Aurora province and Bohol, and in Calabarzon and Mimaropa region.
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There’s a survey conducted by a world’s leading financial services company to establish baseline data on the Financial Quotient or financial intelligence of Filipino consumers. The first 400 respondents were between 18 to 40 years old, and owned either a bank account or a credit card. The survey was administered online.

Here’s the result of [...]

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Credit Information System bills both from the Senate and the House of the Representatives is now the buzzwords in the Philippine financial industry today. With the session of the Senate and the House of the Representatives back to normal from last month recess, these bills were tackled in the bicameral meeting. The honorable senators and [...]

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