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SME loan applications lower than expected



THE NUMBER of small businesses applying for loans from the government remains low at about 1,000 a week, though the current average represents a significant improvement from initial numbers, the Department of Trade and Industry (DTI) said.
Trade Secretary Ramon M. Lopez said in a Viber message: “The loan take up has improved, from about 200 applications a week at the start, to 1,000 a week.  But we were expecting more applications than these numbers.”
The DTI’s Small Business Corp. (SB Corp.) was allocated P10 billion to lend to micro-, small-, and medium-sized enterprises by Republic Act No. 11494, the second stimulus package known as Bayanihan II, to assist businesses affected by the pandemic. ....

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DTI bans installment-only purchase schemes

DTI bans installment-only purchase schemes
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