SAN JOSE, Antique – The Department of Trade and Industry (DTI) in this province has received 251 applications from micro, small and medium entrepreneurs (MSMEs) seeking loan assistance under the Pondo sa Pagbabago at Pag-asenso (P3) program due to damages brought by coronavirus disease 2019.
“We have now endorsed to the Small Business Corporation (SB Corporation) the applications for the P3 program,” said DTI-Antique information officer Engr. Lynna Joy Cardinal on Monday.
She added: The applications were received from May 5 until June 1.
The SB Corporation, an attached agency of the DTI, extends loans ranging from P10,000 to P200,000 for micro-enterprises and P200,000 to P500,000 for small enterprises – all payable for up to 24 months.
Cardinal said the P3 program, which used to have 0.5 percent interest per month, has lately been made to zero interest with a six to eight percent service charge.
DTI undersecretary Abdulgani Macatoman, for his part, said during the “Laging Handa” briefing hosted by Presidential Communications Operations Office secretary Martin Andanar that DTI Negosyo Centers in the municipalities could assist MSMEs.
All 18 municipalities in this province have Negosyo Centers where business counselors receive application forms.
The SB Corporation is now in the process of conducting actual visits to the MSMEs and validating them./PN
“As part of the requirements, a business must have been legitimately operating for at least one year immediately prior to March 16, 2020,” Cardinal said.(With a report from PNA/PN)
