The Philippine STAR 06/13/2006
The Rural Bank of Cotabato Inc. (RB Cotabato) has extended P94 million to 1,600 microenterprise borrowers since 2003.
During its anniversary celebration last month, the RB Cotabato recognized its microloan clients who have managed to significantly grow their business.
It also launched its new service facilitated by Globe Telecom’s G-Cash.
The rural bank now accepts loan payments via Text-A-Payment (TAP) service and is now a G-Cash Palitan Center. It now accepts domestic and international money transfers and remittances through Globe’s electronic money platform, G-Cash.
TAP, a short messaging services-based payment system, allows clients who are Globe/Touch Mobile subscribers to pay loan amortizations through text messaging.
The RB Cotabato receives technical assistance for its microfinance lending operations and overall banking operations from the Rural Bankers Association of the Philippines - Microenterprise Access to Banking Services (RBAP-MABS) program.
The RBAP-MABS program, one of the United States Agency for International Development (USAID) development projects in Mindanao, is implemented by the RBAP with oversight provided by the Mindanao Economic Development Council (MEDCo).
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