DTI opens loan facility to small businesses

Micro, small, and medium entrepreneurs (MSMEs) in Palawan can avail P5,000 to P100,000 loans starting this year from the government’s lending program that is being managed by the Department of Trade and Industry (DTI) through its micro-financing arm Small Business Corporation (SBC).

SBC Palawan desk officer Marcelino Dile said the MSMEs in the province can avail these loans from the national government’s Pondo Para sa Pagbabago at Pag-asenso (P3) that will be rolled out starting this year.

The loan offers will be implemented by the SBC through conduit cooperatives, micro-financing institutions and organizations engaged in micro-lending operations.

“Kami lang sa SBC ang administrator ng pondo, pero ito ay idadaan sa mga coops at organizations na meron nang existing micro-lending programs. Itong P3 ay para talaga ito sa mga maliliit na negosyante dahil ito ang pangako ni Presidente [Rodrigo Dutere] para panlaban sa Bombay,” he explained.

Dile said they will lend and release the funds to conduits that applied to become accredited under a two percent interest per annum.

These conduits can then re-lend the funds to their members from a maximum interest of 30% per annum or 2.5% per month.

“Mas mababa na ang interest rate nito compared sa 5% per month up to 20% per month sa mga Bombay,” he said.

An SBC conduit can apply to undertake loans of up to P300 million but it should at least have an asset of not less than P500,000 and has been existing and operating for at least one year.

Dile said they have already approved the applications of two conduits in Puerto Princesa and in Narra town, southern Palawan. Two pending applicants are still being evaluated.

“Ang target natin ay magkaroon ng conduits sa bawat municipality para ang mga taga-doon ay sa kanila na pupunta,” he explained.

Since the coops and local-based organizations are their conduits, Dile said that the approval of loans and setting of policies and safety nets will be improved and enhanced for collection efficiency.

“Dapat ay ayusin sya doon sa pag-release ng conduit sa kanilang members kasi hindi ito dole out kundi loan,” he explained.

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