Danielle Kate Ugay BSBA FM 2

TASK16 ARTICLE REFLECTION

To increase the availability of financial goods and services for broader financial
inclusion, the BSP standardized the business loan application form provided to MSME, or the
micro, small, and medium firm (BSME) by the BSP-Supervised Financial Institutions (BSFI).
The September 30, 2022, BSP circular No. 1156 offers a borrower-centric
The Standard Business Loan Application Form (SBLAF) makes the formal loan
application procedure more approachable for MSME borrowers and helps them get
comfortable with it. The SBLAF makes it easier and faster to use online platforms for loan
applications.
The BSP standardized business loan forms in order to advance financial inclusion by
increasing MSMEs' access to financial products and encouraging a regulatory environment
that is accommodating to their requirements.