Land Bank of the Philippines said it is rolling out a new lending program to provide micro, small and medium enterprises (MSMEs) and their partner financial institutions with accessible financing and capacity-building support.
The initiative is part of the state-run bank’s efforts to drive economic activity and promote inclusive growth across the country.
The new program, called the LANDBANK’s Innovative Financing Thrust Towards Inclusive National Growth thru Micro, Small, and Medium Enterprises (LIFTING MSMEs) Lending Program, allows eligible borrowers to use loan proceeds for various needs, including working capital, business expansion, equipment purchase or upgrade, renovation, digitalization, franchising, export and trade finance and green or sustainable projects.
“MSMEs are the backbone of the Philippine economy, making up 99.6 percent of total business establishments and employing 65 percent of the total workforce,” said LandBank president and chief executive officer Lynette Ortiz.
“Every loan extended to an MSME creates a ripple effect — sustaining jobs, uplifting families, and strengthening communities. Through the LIFTING MSMEs Lending Program, LandBank is fueling this multiplier effect to accelerate inclusive and sustainable growth across the nation,” said Ortiz.
