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USAID, BPI offer financial option for SMEs in C. de Oro VOL. 2, No. 164
Cagayan de Oro City
Monday
November 26, 2012
P10.00
SMEs from Oro, Batangas, and Iloilo to gain from $35 million credit facility By Danielle Venz of Philexport News and Features
SMALL and medium-scale enterprises (SMEs) in the cities of Batangas, Cagayan de Oro and Iloilo have another financing option to grow their businesses. A $35-million credit facility was launched recently by the United States Agency for International Development (USAID) with the Bank of the Philippine Islands (BPI) and the BPI Family Savings Bank (BFSB). “We hope that this facility will expand access to capital for Filipino entrepreneurs to allow them to improve and expand their businesses,” said USAID Mission Director Gloria Steele in a business con-
ference. She earlier said that the credit facility would help reduce SME collateral requirements and allow entrepreneurs to explore new markets. Steele said the eightyear facility is intended to encourage lending to SMEs in cities outside Metro Manila that were selected in USAID Cities Development Initiative (CDI). After piloting the credit bpi | page 10
MILO MARATHON. A girl peers through iron bars from a side of the street to watch runners sprint by during the 36th Milo Marathon in Cagayan de Oro on Sunday. Someday, perhaps, she will join the race and no one can tell if she will be the champion. A father, mother and their child joins the 36th Milo Marathon. The annual race has become not only an event for individual runners but also for entire families and groups of friends as all categories can accommodate competitors of all ages. Photos by Gerry L. Gorit
Record turnout at Villar Foundation’s GoNegosyo’s OFW, family summit SECOND OFW and Family Summit 2012. Senator Manny Villar and Cynthia Villar—Chairman and Managing Director, respectively, of the Villar Foundation— joined by Las Pinas Rep. Mark Villar, GoNegosyo’s founding trustee Joey Concepcion, Executive Director Ramon Lopez and Dr. Enerico Sampang Jr. representing Pasay City Mayor Antonio Calixto, led the ribbon-cutting ceremony to formally open the 2nd OFW and Family Summmit 2012 at the World Trade Center, Pasay City.
n Cynthia Villar and other speakers urge OFWs and families to be entrepreneurs ON its second year, the OFW and Family Summit of the Villar Foundation and GoNegosyo once again attracted record number of participants. Overseas Filipino workers (OFW) returnees as well as their families trooped to the World Trade Center in Pasay City for the one-day summit that aims to provide information, opportunities and inspiration to attendees to embark on a business of their own. Senator Manny Villar and Cynthia Villar—Chairman and Managing Director, respectively, of the Villar Foundation— joined by Las Piñas Cong. Mark Villar, GoNegosyo’s founding trustee Joey Concepcion, SUMMIT | page 10
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