The Phillipine government has launched 'SME Financing for Organizationally Competent and Excellent Franchise Businesses (Force)', a lending programme which will assist entrepreneurs wishing to invest in franchises which are members of the Philippine Franchise Association. The programme is supported by Small Business Corp, which will provide credit access to franchisees that are not eligible to secure new or additional financing from banking institutions due to insufficient collateral or other considerations.
"The programme is designed for franchisees of franchise firms that are members of industry associations like the Philippine Franchise Association," says Department of Trade and Industry Undersecretary for SME (small and medium enterprises) Development Zorayda Amelia Alonzo, who is also Chairperson of Small Business Corp. "Along with other components of the SME agenda, this is our way of encouraging more aspiring entrepreneurs to go into franchising."
Published: 16 August 2006
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