Page 6 - சிறிய வணிக கார்ப் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
DTI reiterates support to local cooperatives
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Fewer firms applying for gov t loan program
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SunStar
+ February 14, 2021 THE Department of Trade and Industry (DTI) through its financing arm, the Small Business Corp. (SBCorp), has approved, as of Feb. 9, 2021, a total of 21,695 loan applications under the Bayanihan Covid-19 Assistance to Restart Enterprises (Cares) program to provide micro, small and medium enterprises (MSME) with urgent relief needed to restart their businesses amid the pandemic.
“We have streamlined the application process and made it online to ensure that more businesses are able to avail of this service. SBCorp completes its evaluation of loan requests within seven working days, even faster if the documents are complete. Submission of documents such as BIR tax return can fast-track approval,” said Trade Secretary Ramon Lopez.
Published February 11, 2021, 7:00 AM
Amid an apparent take up of the government micro financing facility, Trade and Industry Secretary Ramon M. Lopez has reiterated his call to all micro small and medium (MSMEs) that wish to restart or to strengthen their business operations to avail of the Bayanihan CARES lending fund.
“We encourage all MSMEs across the country in all regions to consider taking the step in reopening or reconfiguring their respective businesses. The features of the Bayanihan CARES loan are intended to allow entrepreneurs to restart their businesses with ample elbow room. There is no need to worry about loan repayments for one year. There is also no need to worry about escalating financing costs,” Lopez said.
Fully funded portion of Bayanihan II 100% released
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