ZAMBOANGA CITY – The Department of Trade and Industry’s (DTI) Small Business Corporation (SB Corp) is providing financial assistance to 93 local micro, small, and medium enterprises (MSMEs) here affected by the coronavirus disease 2019 (Covid-19) pandemic.
Grace Aduca, DTI provincial director, said Friday the financial assistance is the agency’s response to help the MSMEs to cope with the losses due to the Covid-19 pandemic.
Aduca said the financial assistance–coursed through a loan–is set to be released in June to the MSMEs loan applicants.
She said the SB Corp is lending to micro-enterprises PHP10,000 to PHP200,000 but not exceeding PHP500,000 to small enterprises with a 6-percent interest rate per annum.
“They should not lose hope since this pandemic is part of the challenges they will face in business,” she said.
The DTI central office announced that the SB Corp is setting up a PHP1-billion Enterprise Rehabilitation Financing facility under the Pondo sa Pagbabago at Pag-asenso named Covid19 P3-ERF.
Meanwhile, she advised the MSMEs to also link with other government agencies and private firms that can help them financially during the crisis. (ia/PNA)