Small businesses’ access to finance was easier in the third quarter of the year, with banks confident that the country’s strong economic growth would translate into more profitable enterprises.
The results of the central bank’s quarterly senior loan officers survey showed that lenders were friendlier to small and medium enterprises, reflecting a higher tolerance for risk for lenders.
Big businesses as well as households, meanwhile, got the cold shoulder.
At the same time, banks also expected they would ease credit standards further in the fourth quarter for all types of businesses, the survey showed.
Source: Philippine Daily Inquirer