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BPI, DTI offer collateral-free loans to virus-hit SMEs

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Ayala-led Bank of the Philippine Islands (BPI) has teamed up with the Department of Trade Industry (DTI) to offer collateral-free term loans to small and medium enterprises (SMEs) in need of lifeline during this prolonged COVID-19 pandemic. In a press statement, BPI business banking head Eric Luchangco said the collateral-free loan facility for SMEs signified…

Landbank’s add’l equity to go to MSME loan programs

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The additional P27.5-billion equity infused into state-run Land Bank of the Philippines (Landbank) will be injected into existing and upcoming loan programs for small businesses badly hit by the pandemic-induced recession, an official said. In a telephone interview on Wednesday, Landbank vice president and corporate affairs group head Vivian Cañonero said the Bayanihan to Recover…