The Small Business Corporation (SB Corp) will open the first MSME Finance Institute to cater to the capacity building needs of the agency’s clients in support of the Department of Trade and Industry’s (DTI) mentoring agenda for micro, small and medium enterprises (MSMEs).
SB Corp’s MSME Finance Institute is in support of SB Corp.’s strategies for capacity building focusing on providing access to finance, putting emphasis on credit technologies, as well as financial technology support for MSMEs.
According to SB Corp. President and CEO Ma. Luna Cacanando, the MSME Finance Institute will address the capacity building and mentoring needs of MSMEs to help them expand their understanding of entrepreneurship, assess and evaluate their businesses needs, and effectively manage their business using the enterprise enhancement plan.
The MSME Finance Institute will have an Advisory Council composed of MSME advocates and experts including former National Economic Development Authority (NEDA) Director General Dr. Cielito Habito, former DTI Undersecretary for MSME Development and former SB Corp. Chairman and CEO Zorayda Amelia Alonzo, and former Philippine International Trading Corporation President and CEO Ma. Lourdes Baua.
The Advisory Council will provide guidance in setting the direction and thrust of the MSME Finance Institute; advocate for the Institute and its programs to increase its visibility to stakeholders of MSME development; and share expertise in addressing issues related to the institute, among others.
The SB Corp MSME Instititute is part of the DTI’s seven-point strategy: “7Ms of Successful Entrepreneurship that aims to ensure the growth and advancement of the MSME sector.