A PROPOSED online registry for loan collaterals will go live in May next year and is expected to widen the access of micro, small and medium enterprises to credit, the Finance department said on Friday.

The registry is in keeping with a law on personal property security and would boost the share of these businesses in band lending to 40% in the next five to 10 years from 6% now , Finance Undersecretary and chief economist Gil S. Beltran said.

The rules that will enforce the Personal Property Security Act gave the Land Registration Authority nine months to set up the electronic registry, but the agency is targeting to launch it in six months at the latest. — Beatrice M. Laforga

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