"This is our way of recognizing SMEs being assisted by LBP who have demonstrated leadership, perseverance, ingenuity, teamwork and other entrepreneurial values essential in creating employment opportunities and thus contributing to the local economy. This is also in line with the President’s priority program for increased SME financing," bank president and CEO Gary B. Teves said.
For the search’s initial year, 32 SMEs representing various regions nationwide will be cited. From these, two grand prize winners will be selected – one each under categories of sole proprietorship/partnership and corporations. The top winners will receive P200,000 worth of assets such as office equipment, computers or fixtures.
Aside from the major awards, an "Entrepre-Youth" special citation will also be conferred to an SME organized and managed by an entrepreneur aged 18-30 years old. The winner under this special citation will receive P100,000 worth of assets.