SB Corp links with fintech for P3

State-owned Small Business Corporation (SB Corp) has tasked the financial technology firm CRIF Corp. with designing the loan operating system making possible the faster delivery of the Pondo sa Pagbabago at Pag-asenso (P3) program to constituents.

The partnership ensured that more micro- entrepreneurs are able to access P3 loans from more credit delivery partners (CDP) nationwide.

SB Corp President and CEO Ma. Luna E. Cacanando said a new loan scheme for P3 is in progress that makes the program more accessible to more micro enterprises in areas not yet reached by formal lenders.

“The agreement with CRIF will make borrowing from P3 easier for micro enterprises. In the previous P3 scheme, micro business owners get to borrow from cooperatives only if they are members. With the P3 scheme via fintech, borrowers can transact with any CDP,” said Cacanando.