P100 billion Philippine MSME fund launched
December 24, 2019 | 12:00am
Photo shows (from left) Finance assistant secretary Tony Lambino, BSP managing director Pia Roman-Tayag, Finance Undersecretary Gil Beltran, Acudeen director Joseph De Leon, Acudeen founder and CEO Magellan Fetalino, RCBC chief innovation and inclusion officer Lito Villanueva, Acudeen director Marcy Venezuela, FinTech Alliance.ph executive director Gay Santos, Philguarantee president and CEO Albert Pascual, and DTI director for the Bureau of SMEs Jerry Clavesillas during the launch of the P100-billion fund for MSMEs.
MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) took the lead in launching ASEAN’s first MSME opportunity fund to provide alternative funding for capital and operational requirements of MSMEs through the sale and purchase of invoice receivables and other movable assets registered by invoice receipts, certificates or contracts as defined under Republic Act 11057 or the Personal Property Security Act.
The law allows the use of movable collaterals, such as account receivables, crops, farm equipment, warehouse receipts, bank accounts, and even future harvest.
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