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Amendments in the types of MI Loans

This is to notify all concerned rural banks on the amendments to Annex A of Circular Number 694, which now include Microfinance Plus in the types of Microfinance Loans.  Under the new Microfinance Plus, borrowers can avail loans from 150,001 to 300,000 pesos on the basis of their cash flow.   As mentioned in the circular, borrowers should have a track record of at least two microfinance loan cycles in the 50,000 to 150,000 range demonstrating the success of the business, increased demand for credit and subsequent increased capacity to pay , in order to avail.

To secure a  copy of the circular, kindly download the attached BSP document c744.

Thank You.