ABSTRACT
The study's main goal is to create a financial accessibility plan outlining intervention to improve access to finance and reduce credit constraints for micro, small, and medium enterprises in the City of Calamba, which is still a source of concern and a barrier for business owners. Specifically, this study seeks to: (1) find out the profile of the micro, small and medium enterprises in terms of business size, years in operation, and annual sales revenue, (2) assess the credit worthiness in terms of character, collateral, capital, condition, and capacity and access to finance in terms of equity financing, and debt financing, (3) determine the significant relationship between creditworthiness and access to finance and significant difference in the credit worthiness and access to finance when based on their profile, and (4) develop a financial accessibility plan for Micro, Small and Medium Enterprises.
Descriptive correlational research was utilized by the researcher in conducting the research with the respondents identified through multistage sampling. The respondents of the study were the 373 MSME Owners in Calamba, City Laguna. Statistical treatment applied to the data of the study which includes frequency and percentage distribution in presenting profile of the respondents; weighted mean in assessing the creditworthiness and access to finance and finally; Pearson’s correlation to analyze the significant relationship between the samples; and Analysis of Variance (ANOVA) in testing the significant difference of creditworthiness and access to finance when Micro, Small and Medium Enterprises are grouped according to their profile.
Findings revealed that Micro, Small and Medium Enterprises in Calamba City, Laguna are excellent in terms of character and only good in terms of collateral, capital, condition, and capacity. But even though they achieve such good credit scores, findings showed that access to finance in terms of equity financing and debt financing are inaccessible to the MSME Owners.
There is a significant relationship between the creditworthiness and access to finance of Micro, Small and Medium Enterprises but partially upheld. In addition, there is significant difference in the creditworthiness and access to finance when Micro, Small and Medium Enterprises are grouped based on their profile but also partially upheld.
Keywords: creditworthiness, access to finance, financial accessibility plan
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