State-owned Small Business Corporation (SB Corp), the micro financing-arm of the Department of Trade and Industry (DTI), recently welcomed its new President and Chief Executive Officer (CEO) Ma. Luna E. Cacanando.
Cacanando’s appointment came amid the government’s step to battle loan sharks through affordable and easy access micro-financing program, the Pondo sa Pagbabago at Pag-asenso or P3 program of the administration.
Cacanando expressed strong belief in the MSME finance advocacy as an affirmative action in levelling the playing field for young enterprises that have yet to hurdle the age of maturity and for small enterprises that lack sufficient capital to get to expand into a formal business undertaking.
“We will push for MSME financing further to help create more entrepreneurs, spur economic growth that will provide jobs to Filipinos,” Cacanando said.
Cacanando brings with her more than three decades of MSME development finance experience and industry expertise, mostly as a government executive. She went on an early retirement from government service in February 2016 as Senior Vice President of Small Business Corporation and Head of the agency’s Financing and Capacity Building Sector.
Prior to joining SB Corp, Cacanando was Credit Manager of Guarantee Fund for MSMEs (GFSME) until its merger with Small Business Guarantee and Finance Corporation (SBGFC or SB Corp) as the surviving entity in November 2001.
Fresh from the University of the Philippines, Los Banos with a degree in Bachelor Science in Agricultural Economics, Cacanando joined the then KKK-Livelihood Corporation in August 1983. Ten years later, she joined GFSME in April 1993.
Prior to her appointment as SB Corp Director and election as SB Corp President and CEO last September 6, 2017, Cacanando had the chance to work with the private sector for over a year in the field of MSME finance.
Cacanando was also consultant to Country Builders Bank and of ADA Inclusive Finance, a Luxemburg development organization and was Director of Negosyong Pinoy (Venture South) Finance Corporation.
Cacanando is an alumnus of the Asian Institute of Management (AIM) where she obtained a Masters degree in Development Management in 1996.
She was conferred Career Executive Service Office (CESO) by the Office of the President in 2001 and by the Career Executive Service Board in 1999, at the same time as Career Service Executive Eligible (CSEE) by the Civil Service Commission.
Cacanando takes over the helm of SB Corp, 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.