Loans granted to small business cooperatives surged in 2017 to reach almost P1 billion, data from the Bangko Sentral ng Pilipinas (BSP) showed, supported by new rules which took effect last year.
The central bank said some P952.2 million loans were released through the credit surety fund (CSF) program from January-November 2017. Outstanding loan balances reached P1.1 billion by the end of the period, boosted by six new credit facilities which opened last year. — Melissa Luz T. Lopez

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