New credit scoring system enables SMEs to better access loans: BSP

MANILA – Small and medium enterprises (SMEs) will now have a better access to loans through a system that collects their data and generates their credit scoring, the central bank said on Thursday.

The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (JICA) launched the Credit Risk Database (CRD) project that seeks to generate and analyze credit scoring data of SMEs for easier borrowing.

“The CRD project is a tangible step in building a sustainable financing ecosystem for SMEs, the backbone of our economy and the driver of the country’s inclusive economic growth,” BSP Governor Benjamin Diokno said.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s