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Tuesday, July 23, 2024

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Almost 3.5M loan grants partially released by the gov’t to MSMEs under CARES program

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By THEPHILBIZNEWS STAFF

As committed, the government through the Department of Trade and Industry (DTI) and Small Business Corporation (SBC) awarded a total of Php 3,407,000.00 loan to 45 recipients from various cities and provinces of Metro Manila and Cordillera Administrative Region.

Led by DTI Secretary Ramon Lopez, together with DTI Regional Operations Group Undersecretary Blesilda Lantayona and SBC President and CEO Ma. Luna Cacanando started to release the initial batch of loans from the COVID-19 Assistance to Restart Enterprises (CARES) Program at the Ceremonial Signing of Loan Release Documents.

According to the Trade Chief, they expect the release of Php1.0 B loans by end of July, and the CARES Program has earmarked is a 1.0 Billion fund for lending to Micro and Small Enterprises. Loan amount ranges from Php10,000.00 to Php500,000.00 at 0% interest rate payable in either 18 or 30 months.

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