Effects of Financial Literacy on Credit Accessibility Among Micro-Business Owners in Panabo City Public Market

This study aimed to determine the relationship between the effects of financial literacy on credit accessibility among micro-business owners in the Panabo City Public Market. The respondents of this research were 185 micro-business owners in the Panabo City Public Market. Quantitative research utilizing descriptive correlational was the design used in this study. Statistical analysis revealed a significant correlation between financial literacy and credit accessibility. The result showed the level of financial literacy among micro-business owners in Panabo City Public Market, in terms of financial knowledge, financial behavior, and financial access, was high, with an overall mean of 3.71. The level of credit accessibility among micro-business owners in Panabo City Public Market, in terms of collateral, interest rates, literacy level, and the number of lending institutions, was high, with an overall mean of 3.52. Furthermore, it was found that there is a significant relationship between Financial Literacy and Credit Accessibility among Micro-businesses owners in Panabo City Public Market. The computed r-value is 0.579 and is associated with a p-value of 0.000, lower than 0.05. Therefore, the null hypothesis of the study was rejected. This implies that the financial literacy of micro-business owners in Panabo City Public Market can affect their credit accessibility.