PHILEXIM Releases Initial Loan For Exporters

In a nick of time, Philexim released the initial loan of PHP 3 million as additional working capital for FAME Exporters. Indian Summer Gifts and Accessories, Cyprea International, Inc.and Avatar Accessories Inc. availed themselves of the loan. The said credit facility was made available at an interest rate of two (2%) per cent per month or twenty-four (24%) per annum. For term loans, these are payable within one (1) year via monthly payments of twelve (12) post dated checks covering principal and interest.