Businesses are delinquent on repayment of loans
The Center City Development Corp. reported Wednesday during the monthly board of directors meeting that five businesses are ``severely delinquent'' in repayment of $242,421.33 in development loans given by CCDC.
Big Philippine banks saw a surprise downtrend in loan delinquency in the first quarter, suggesting that the local economy remained resilient so far to credit stresses that have bludgeoned financial institutions in the United States and elsewhere in the world.