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Gov't must cut red tape to hasten release of MSME aid—Chiz Escudero – Manila Bulletin

Senatorial candidate and incumbent Sorsogon Governor Francis “Chiz” Escudero on Monday urged the government to assess where to cut the red tape in the distribution of aid to micro, small and medium enterprises (MSMEs) considering there are still billions in unused Covid-19 cash aid for them.

Esc ....

Francis Chiz Escudero , Assistance To Restart Enterprises , Small Business Corp , Commission On Audit , World Bank , Sb Corp , Sorsogon Governor Francis , Restart Enterprises , Small Business ,

Solon wants more subsidies instead of loan funds for MSMEs

Solon wants more subsidies instead of loan funds for MSMEs
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Marikina City , Bangko Sentral , Stella Quimbo , Assistance To Restart Enterprises , Industry Livelihood Seeding Program , Small Business Corporation , Commission On Audit , Sb Corp , Livelihood Seeding Program , Negosyo Serbisyo Sa Barangay , Restart Enterprises , One Act ,

SBCorp releases P5.9-B for MSME loans

MANILA - Small Business Corp. (SBCorp), the financing arm of the Department of Trade and Industry (DTI), released a total of PHP5.9 billion as of end-February to micro, small, and medium enterprises (MSMEs), its president and chief executive officer Luna Cacanando said in a statement. This is part of the PHP8.08 billion disbursed to SBCorp for the rollout of the zero-interest loan Covid-19 Assistance to Restart Enterprises (CARES) program. The program is part of the Bayanihan to Recover as One Act, or the Bayanihan 2, which allots PHP10 billion for the interest-free loan. However, the Department of Budget of Management (DBM) only disbursed PHP8.08 billion. Of the total released funds to SBCorp, PHP7.93 were allotted for lending and the rest is for the mobilization and operating expenses of the CARES program. About PHP4 billion was earmarked for MSMEs in the tourism sector while PHP3.93 billion for multi-sectoral MSMEs, Cacanando said. She said loans for multi-sectoral MSMEs have been f ....

Quezon City , Ramon Lopez , Luna Cacanando , Assistance To Restart Enterprises , Small Business Corp , Commission On Audit , Department Of Budget Management , Restart Enterprises , One Act , Manila Small Business Corp Sbcorp , He Financing Arm Of The Department Trade And Industry Dti , Eleaseda Total Of Php5 9 Billion As End February To Micro , And Medium Enterprises Msmes , Ts President And Chief Executive Officer Luna Cacanando Said Ina Statement This Is Part Of The Php8 08 Billion Disbursed To Sbcorp For Rollout Zero Interest Loan Covid 19 Assistance Restart Enterprises Cares Program Bayanihan Recover As One Act , R The Bayanihan 2 , Hich Allots Php10 Billion For The Interest Free Loan However , He Department Of Budget Management Dbm Only Disbursed Php8 08 Billion The Total Released Funds To Sbcorp , Hp7 93 Were Allotted For Lending And The Rest Is Mobilization Operating Expenses Of Cares Program About Php4 Billion Was Earmarked Msmes In Tourism Sector While Php3 Multi Sectoral , Acanando Said She Loans For Multi Sectoral Msmes Have Been Fully Utilized As Of End 2021 Sbcorp Issued This Statement Amid The Release Commission On Audit Coa Report That Only 54 96 Percent Or Php4 99 Billion Was Disbursed By Cares Program June Cacanando There Isa Low Uptake Tourism And Travel Sector They Cannot Operate Due To Restrictions Quot Has Lagged Behind In Availing Loan Assistance From Government Effects Prolonged Lockdown Establishments Very Slow Series Lockdowns General Uncertainty Had Governed Past Two Years , Uot She Said As Of End February , Nly Php278 Million Of Loans Were Disbursed To Tourism Related Msmes Some Php524 Are Now In The Pipeline For Processing Quot Who Will Borrow If They Not Allowed Operate It 39s Only That Borrowings Picking Up Because We Just Have Opened Sector , Uot Dti Secretary Ramon Lopez Told Trade Reporters Ina Viber Message Pna ,

Congress urged to probe unused Bayanihan 2 loan funds

Camarines Sur Rep. Luis Raymund Villafuerte (File photo) MANILA - A lawmaker on Friday called on Congress to look into the Commission on Audit's (COA) discovery that PHP4.99 billion, or over half of the funds allocated for loan distribution to micro, small, and medium enterprises (MSMEs) under the Bayanihan to Recover as One Act (Bayanihan 2), was never used by the intended beneficiaries. Camarines Sur Rep. Luis Raymund Villafuerte said Congress should get to the bottom of the COA report that more than half of the funds intended to rescue MSMEs, particularly those in the tourism sector, remained idle until Bayanihan 2's extended effectivity lapsed in June last year. According to the COA report dated March 2, the Small Business Corp. (SBC), as of June 30, 2021, released just PHP4.09 billion of the PHP9.08 billion earmarked for the Department of Trade and Industry's Covid-19 Assistance to Restart Enterprises (CARES) Program, for distribution as collateral-free, zero-interest ....

Camarines Sur , Quezon City , Luis Raymund Villafuerte , Assistance To Restart Enterprises , Small Business Corp , Commission On Audit , National Treasury , Sb Corp , Enterprise Zone Authority , One Act , Small Business , Restart Enterprises , Tourism Infrastructure , Appropriations Act , Camarines Sur Rep Luis Raymund Villafuerte File Photo Manilaa Lawmaker On Friday Called Congress To Look Into The Commission Audit 39s Coa Discovery That Php4 99 Billion , R Over Half Of The Funds Allocated For Loan Distribution To Micro , Nd Medium Enterprises Msmes Under The Bayanihan To Recover As One Act 2 , As Never Used By The Intended Beneficiaries Camarines Sur Rep Luis Raymund Villafuerte Said Congress Should Get To Bottom Of Coa Report That More Than Half Funds Rescue Msmes , Articularly Those In The Tourism Sector , Emained Idle Until Bayanihan 2 39s Extended Effectivity Lapsed In June Last Year According To The Coa Report Dated March , He Small Business Corp Sbc , S Of June 30 , Eleased Just Php4 09 Billion Of The Php9 08 Earmarked For Department Trade And Industry 39s Covid 19 Assistance To Restart Enterprises Cares Program , Or Distribution As Collateral Free , Ero Interest Loans To Msmes Villafuerte , Iting The Report ,

Solon wants more subsidies instead of loan funds for MSMEs

(File photo) MANILA- A lawmaker on Friday urged economic managers to seriously consider expanding the various subsidy programs for micro, small, and medium enterprises (MSMEs) to help them recover from the impact of the coronavirus pandemic. Marikina City Rep. Stella Quimbo said programs such as the Department of Trade and Industry's Livelihood Seeding Program - Negosyo Serbisyo Sa Barangay (LSP-NSB) could help get small businesses restarted, and for them to eventually muster "enough confidence" to avail of the expanded loan programs. "Subsidies are especially important today, with the series of oil price hikes," Quimbo said. She pointed out the risk aversion of MSMEs to loans, as the percentage of MSME loans to total loans in 2020 and the first semester of 2021 were both 7.6 percent, which is lower than pre-pandemic rates of 8.8 percent in 2019, according to Bangko Sentral ng Pilipinas data. Quimbo cited the Commission on Audit (COA) report dated March 2, 2022 ....

Marikina City , Bangko Sentral , Stella Quimbo , Assistance To Restart Enterprises , Industry Livelihood Seeding Program , Small Business Corporation , Commission On Audit , Sb Corp , Livelihood Seeding Program , Serbisyo Sa Barangay , Restart Enterprises , One Act , Ile Photo Manilaa Lawmaker On Friday Urged Economic Managers To Seriously Consider Expanding The Various Subsidy Programs For Micro , Nd Medium Enterprises Msmes To Help Them Recover From The Impact Of Coronavirus Pandemic Marikina City Rep Stella Quimbo Said Programs Such As Department Trade And Industry 39s Livelihood Seeding Program Negosyo Serbisyo Sa Barangay Lsp Nsb Could Get Small Businesses Restarted , Nd For Them To Eventually Muster Quot Enough Confidence Avail Of The Expanded Loan Programs Subsidies Are Especially Important Today , Ith The Series Of Oil Price Hikes , Uot Quimbo Said She Pointed Out The Risk Aversion Of Msmes To Loans , S The Percentage Of Msme Loans To Total In 2020 And First Semester 2021 Were Both 7 6 Percent , Hich Is Lower Than Pre Pandemic Rates Of 8 Percent In 2019 , Ccording To Bangko Sentral Ng Pilipinas Data Quimbo Cited The Commission On Audit Coa Report Dated March 2 , 022 Stating Thata Total Of Php4 99 Billion Or More Than Half The Allotted Loans For Msmes Under Covid 19 Assistance To Restart Enterprises Cares Program , As Unused Of The End June 2021 Cares Program Is One Lending Programs Designed For Pandemic Response , Nd To Be Implemented By The Small Business Corporation Sbc , Hich Received Php9 08 Billion To Be Distributed As Collateral Free , Ero Interest Loans To Msmes Under The Bayanihan Recover As One Act 2 Quot At Get Go , I Was Concerned That The Loan Programs For Msmes Were Going To Fail Because Begin With ,