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SB Corp. releases P7.2-B microloans for MSMEs

(PNA file photo) MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez said the agency's financing arm has released a total of PHP7.2 billion worth of loans to micro, small and medium enterprises (MSMEs) to help them recover from the pandemic. At the launch of the Rise Up Program Friday, Lopez said the PHP7.2-billion loan disbursed to MSMEs came from the Coronavirus disease 2019 Assistance to Restart Enterprises (CARES) program of Small Business (SB) Corp. Lopez said CARES loan has assisted around 42,100 borrowers. SBCorp launched the CARES program, a zero-interest loan, in 2020 with a PHP1-billion budget funded internally. With the success of the program, Congress allocated PHP10 billion under the Bayanihan to Recover as One (Bayanihan 2) for the CARES loan. However, the Department of Budget and Management (DBM) only released PHP8.08 billion to the DTI's financing arm. Of the total released fund, PHP4 billion was allotted for multi-sectoral MSMEs and PHP4 billi ....

Ramon Lopez , Riseup Tindahan , Riseup Turismo , Assistance To Restart Enterprises , Rise Up Program , Department Of Budget , Small Business Sb Corp , Secretary Ramon Lopez , Rise Up Program Friday , Restart Enterprises , Small Business , Riseup Multi Purpose Loan , Na File Photo Manila Department Of Trade And Industry Dti Secretary Ramon Lopez Said The Agency 39s Financing Arm Has Releaseda Total Php7 2 Billion Worth Loans To Micro , Mall And Medium Enterprises Msmes To Help Them Recover From The Pandemic At Launch Of Rise Up Program Friday , Opez Said The Php7 2 Billion Loan Disbursed To Msmes Came From Coronavirus Disease 2019 Assistance Restart Enterprises Cares Program Of Small Business Sb Corp Lopez Has Assisted Around 42 , 100 Borrowers Sbcorp Launched The Cares Program , A Zero Interest Loan , N 2020 Witha Php1 Billion Budget Funded Internally With The Success Of Program , Ongress Allocated Php10 Billion Under The Bayanihan To Recover As One 2 For Cares Loan However , He Department Of Budget And Management Dbm Only Released Php8 08 Billion To The Dti 39s Financing Arm Total Fund , Hp4 Billion Was Allotted For Multi Sectoral Msmes And Php4 Tourism Related The Rest Spent Mobilization Operating Expenses To Roll Out Microfinancing Program Lopez Said Loans Were Fully Utilized While Facility Sector Underutilized As Enterprises Reluctant Borrow Money Even At Zero Interest Rate Due Their Low Capacity Date , Ome Php2 7 Billion Is Still Available For Msmes In The Tourism Sector , Opez Said To Continue This Microfinancing Program , Bcorp Has Launched Its Online Loan Facilities Available To Multi Sectoral Msmes Lopez Said Sbcorp Is Allocating Php6 Billion For The Rise Up Program , Hich Has Three Sub Programs Including Riseup Multi Purpose Loan For Sectoral Msmes , Iseup Tindahan For Msmes Undera Fast Moving Consumer Goods Network ,

SB Corp. releases P7.2-B microloans for MSMEs

SB Corp. releases P7.2-B microloans for MSMEs
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