Davao chamber eyes unit to extend microfinance loans

DAVAO CITY – The Davao City Chamber of Commerce and Industry, Inc. has planned to extend small loans to the city’s small and medium enterprises, a plan initiated since 2003 but was passed off by changes in the chamber’s leadership, a chamber official said.

Sofronio Jucutan, former DCCCII president who is heading the executive committee of the Small and Medium Enterprises Week 2007, told reporters a study was completed in 2004 and was approved by the chamber’s then board of trustees on the creation of a corporation from the chamber to handle the proposed microfinance unit for SMEs.

The Small and Medium Enterprise Development Council, where DCCCII is a part of, is holding the 2007 SME week from July 16 to 21 here.

Jucutan told reporters at the Club 888 press conference Wednesday one of the factors hampering growth of the SMEs is their poor access to microfinance to usher in business.

Read the rest of the report on MindaNews.com.

About mindanaw

A Journalist from Mindanao

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