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News and Events

Freedom from Debt? Filipinos With Loans Plunge to 22.3% in 2017 from 47.1% in 2015

Almost half of borrowers needed the extra money for daily needs while almost a third used it for business

Perhaps it’s because of the improving economy, rising household incomes or fewer borrowing options in light of the government’s crackdown on informal lending schemes.Whatever the reason, the proportion of Filipino adults with outstanding loans more than halved from 2015 to 2017, according ...

by Lorenzo Kyle Subido  | July 16, 2018 06:00:00
News and Events

Despite High Rates, 'Bombay 5-6' Loans Helped After Asian Crisis, Study Says

A 2003 academic paper found that Filipinos, not just Indians, were also major providers of the costly loans

When President Rodrigo Duterte railed this week against "five-six" loans, he also ordered the arrest, even without a court warrant, of Indian nationals engaging in the high-cost lending scheme.The loans entail the payment of six pesos for every five pesos lent out ...

by Entrepreneur Staff  | January 13, 2017 11:00:00