SBCorp loans to MSMEs exceed DBM allocation 

Loans granted by the Small Business Corporation’s (SBCorp) to pandemic-affected micro, small, and medium enterprises (MSMEs) as of Dec. 2 this year reached P8.2 billion, exceeding the P8.08 billion transferred or downloaded to it by the Department of Budget and Management (DBM) based on Bayanihan 2 Act.

In a statement, SBCorp said the P8.20 billion worth of loans have been approved to 50,003 MSMEs under the CARES Program and for SBCorp’s other lending programs targeted to assist MSMEs adversely affected by the COVID-19 pandemic.

The micro-financing agency attached with the Department of Trade and Industry noted it has already exceeded the