CEBUANA Lhuillier Bank (CLB) has set its sights on expansion in the Visayas, with the opening of its first branch in the region in Cebu City.The rural bank plans to reach out to mom-and-pop businesses and to micro, small and medium enterprises (MSMEs) whose operations definitely need a boost following the challenges brought to the economy these past two years.“MSMEs have always been the backbone of our economy, with 99 percent of total businesses in the Philippines considered as falling under this sector. They are also a major source of employment, and also a major contributor in our total export revenues. However, in spite of their huge contributions to the economy, MSMEs often lack financial resources that will help in their growth and development,” bank president Dennis Valdes said.Located within the business center of the city, CLB’s newest branch can be found on Acacia St., Barangay Kamputhaw, Cebu City. The bank offers a wide variety of business loan products primarily aimed at providing financial assistance to MSME owners for their working capital, business expansion and investment. Depending on the business size and profile of the clients, CLB offers loan products such as microfinance loans, SME loans, and corporate business loans.Jean Henri Lhuillier, president and chief executive of PJ Lhuillier Group, the parent firm of Cebuana Lhuillier, said they plan to expand further in the Visayas and Mindanao which will allow them to serve more MSMEs in rural communities.CLB currently offers housing loans and business loans in the province. With low interest rates, fast application process and flexible loan payments, CLB aims to empower MSMEs and business owners. Qualified CLB clients can get a maximum loan amount of P300,000 for business loans.Aside from business loans, CLB also offers housing loans, and soon to be available in its Cebu branch, the teachers’ loan and motorcycle loan products.