The United Coconut Planters Bank has allocated a P900-million lending window for small and medium-sized enterprises in the Visayas and Mindanao this year to help spur export-oriented activities, local commerce and agricultural production, and generate employment opportunities in the two regions.

UCPB vice president Angelito Estanislao, head of the bank's middle market lending operations in the Visayas and Mindanao, said in a statement that their bank will now focus on providing working capital and trade-related financing to small and medium-sized export firms. Credit will also be available to intermediate goods producers, traders and distributors of commodities, rural banks engaged micro-finance, and farmers' cooperatives providing production credit to its members.

He said that these businesses are labor-intensive and have numerous village-based suppliers and their expansion will generate the most number of new jobs at the grassroots level and drive consumption, the statement said.

Estanislao said the funds earmarked for the Visayas and Mindanao represent nearly half of the P1.9 billion that UCPB has set aside for middle market loans this year.

UCPB will channel the loans through its regional offices and branch network, including 21 in the Visayas and 17 in Mindanao.

Estanislao said the middle market segment is huge and growing but remains underserved, particularly in the Visayas and Mindanao.

In 2006, the bank beefed up its middle market unit, doubling the number of relationship managers assigned to service the segment, and organizing them into four dedicated teams, one of which is devoted to cover the Visayas-Mindanao markets.

"Our stepped-up operation in the Visayas and Mindanao will be a key driver of the growth this year," Estanislao added.*

back to top