MANILA, Philippines - Small Business Corp. (SBC) and the Development Academy of the Philippines (DAP) signed a memorandum of understanding (MOU) for the development of a certification program for loan officers and the establishment of qualification standards for financial institutions to assist their loan officers in loan assessment and evaluation, loan approval, credit review and risk management.
The MOU will set in motion an accreditation program whereby MSME loan officers can be certified as professional SME credit specialists.
The partnership will also bring about the development and institutionalization of a set of review curricula and course offerings leading to a diploma on Risk-based SME Credit Specialist Course.
Furthermore, the certification program will complement current efforts to enable participating financial institutions to develop credit risk management systems and risk rating models in the assessment of small business loans. This should expand not only the overall MSME portfolio, but also increase the overall quality of accounts.