THE DEPARTMENT of Trade and Industry (DTI) Antique provincial office has received 251 applications from micro, small and medium entrepreneurs (MSMEs) seeking loan assistance under the Pondo sa Pagbabago at Pag-asenso (P3) program.
“We have now endorsed to the Small Business Corporation the applications for the P3 program,” said DTI Antique provincial office information officer Engr. Lynna Joy Cardinal, in an interview Monday.
The applications were received from May 5 until June 1, she added.
The Small Business Corporation, an attached agency of the DTI, extends loans ranging from PHP10,000 to PHP200,000 to micro-enterprises and PHP200,000 to PHP500,000 for small enterprises, which are payable for up to 24 months.
Cardinal said the P3, which used to have 0.5 percent interest per month, has lately been made zero interest with a 6 to 8 percent service charge.
During the "Laging Handa" Monday briefing hosted by Press Secretary Martin Andanar, DTI Undersecretary Abdulgani Macatoman said the DTI Negosyo Centers in the municipalities could assist MSMEs.
In Antique, Negosyo Centers are available in the 18 municipalities where business counselors receive the application forms.
The Small Business Corporation is now in the process of validating and conducting actual visits on the MSMEs for validation.
"As a requirement, the MSME must have been legitimately operating for at least one year immediately prior to March 16, 2020," Cardinal said.
Other requirements are business must be 100 percent Filipino-owned, has an asset size of not more than PHP15,000,000 exclusive of the land on which the particular business entity's office, plant, and equipment are situated.
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