The CIC Credit Report

and women entrepreneurs

Ease of Doing Business: Helping Women Entrepreneurs
Start and Sustain Their Business

12 March 2021, Friday | 02:00 PM

 What is the
Credit Information Corporation?

• Created by Republic Act

No. 9510 or the Credit
Information System Act.

02 | The CIC Credit Report and women entrepreneurs

 What is the
Credit Information Corporation?

• Submission of borrowers’
credit data is mandatory.

02 | The CIC Credit Report and women entrepreneurs

 What is the
Credit Information Corporation?

• All lenders are required to

submit the credit data of
their clients.

02 | The CIC Credit Report and women entrepreneurs

 What is the
Credit Information Corporation?

• As of today, the CIC

database has 24 million
borrowers.

02 | The CIC Credit Report and women entrepreneurs

03 | The CIC Credit Report and women entrepreneurs
 The CIC Credit Report

02 | The CIC Credit Report and women entrepreneurs

 PID Number Tagging
• To become more inclusive to borrowers of microfinance institutions (MFIs),
cooperatives, and rural banks—whose borrowers may not have IDs of TIN, SSS, or
GSIS—the CIC deployed the Primary ID (PID) number tagging system.

• The Credit Information System (CIS) now accepts UMID and driver’s license, further
expanding the coverage of the CIC database.

• The average Filipino—not just those who are banked but also the unbanked and
underbanked, including women who are mostly borrowers from microfinance
institutions—are now covered by the CIS.

05 | The CIC Credit Report and women entrepreneurs

 CIC EODB Milestones
CIC milestones contributing to the improvement of the
country’s competitiveness ranking, especially in the depth of
credit information index:
• 24 million borrowers and 80 million contract data in the
CIC database
• 576 financial institutions submitting credit data
• 102 accessing entities
• CIC Credit Report is now available online through a
credit bureau app which also provides credit scores.
• Online Dispute Resolution Process

06 | The CIC Credit Report and women entrepreneurs

 Women entrepreneurs
and the CIC Credit Report
Toyota Financial Services, an accessing entity of the CIC,
was able to grant revolving credit facility without requiring
collateral.

Key factors: Good credit history with no negative findings as

assessed by TFS.

07 | The CIC Credit Report and women entrepreneurs

 Women entrepreneurs
and the CIC Credit Report
UnionBank is also an accessing entity of the
CIC and was able to extend loans to woman
entrepreneurs because of good credit
standing.

09 | The CIC Credit Report and women entrepreneurs

The CIC Credit Report
and women entrepreneurs
Ease of Doing Business: Helping Women Entrepreneurs
Start and Sustain Their Business

12 March 2021, Friday | 02:00 PM