State-owned SB Corp. gets new president and CEO

Small Business Corp. (SB Corp), the state-owned micro financing arm of the Department of Trade and Industry (DTI), on Monday said Ma. Luna E. Cacanando has been appointed as its president and chief executive officer.

Cacanando served as credit manager of Guarantee Fund for MSMEs until it merged with Small Business Guarantee and Finance Corporation, which is SB Corp., in November 2001.

Cacanando’s appointment was in line with the plan to run loan sharks out of business via the loan facility Pondo sa Pagbabago at Pag-asenso Program or P3, according to the DTI.

“We will push for MSME financing further to help create more entrepreneurs, spur economic growth that will provide jobs to Filipinos,” Cacanando said.

The DTI said Cacanando is enthusiastic that the agency will accomplish its mandate in MSME finance, especially the P3, and its unique role in the national development landscape as defined by the Magna Carta for MSMEs. — Jon Viktor Cabuenas/VDS, GMA News