BACOLOD City – Seven micro, small, and medium enterprise (MSME) beneficiaries from this city received loan assistance from the Department of Trade and Industry (DTI) and the Small Business Corporation (SB Corp.) during a ceremonial awarding held on June 23 at the Bacolod City Government Center (BCGC) lobby.
The event was spearheaded by the Department of Local Economic Development and Investment Promotion (DLEDIP) following the signing of a memorandum of agreement (MOA) between the Bacolod City Government and SB Corp.
SB Corp. is a government-owned and controlled corporation (GOCC) under the DTI’s MSME Development Council. It was formed through the merger of the Small Business Guarantee and Finance Corporation and the Guarantee Fund for MSMEs.
The institution aims to provide accessible and affordable financing to MSMEs nationwide.
SB Corp. President and Chief Executive Officer Robert Bastillo highlighted that their loan programs offer a significant advantage for MSMEs, especially compared to private banks.
“Our financing rate is only 6.6 percent per annum, much lower than what banks offer, which can range from 10 to 20 percent,” Bastillo said.
He emphasized, however, that borrowers must remain accountable even though SB Corp. is a government financial institution.
“Some may assume they can default because it’s public funding, but we don’t tolerate that mindset. If you borrow, you must pay. Otherwise, we will pursue legal action,” he warned.
A total of nearly P1.7 million in loans was granted to the seven beneficiaries, each receiving varying loan amounts depending on their needs and qualifications.
Mayor-elect Greg Gasataya, who attended the event, expressed his support for the program and said the MOA would help streamline the loan application process for MSMEs in Bacolod.
He added that the city government is considering setting up a dedicated help desk to assist applicants and facilitate smoother transactions with SB Corp.
The event also featured the 2025 SB Corp. Bacolod Roadshow, which aims to promote awareness of available loan programs and further strengthen MSME development in the region./PN
