SMEs can borrow up to P500K from DTI when quarantine is over

Published April 3, 2020, 12:00 AM

by manilabulletin_admin

By Rizal Obanil

Department of Trade and Industry (DTI) Secretary Ramon Lopez on Friday said that small and medium enterprises can avail of loans up to P500,000 even after the enhanced community quarantine (ECQ).

 Trade and Industry Secretary Ramon M. Lopez (Bloomberg)
Trade and Industry Secretary Ramon M. Lopez (Bloomberg)

Lopez in an interview over ABS-CBN Channel 2, said that micro, small, and medium enterprises can avail of a loan from P200,000 to P500,000 with 0.5 monthly interest.

The said loan is payable within 2 to 5 years with a grace period of 5-6 months.

The DTI chief said that this program is government’s way of helping businessmen get back on their feet after the blow dealt by the coronavirus disease 2019 (COVID-19) to the economy, especially to SMEs.

Dubbed as “Pondo sa Pagbabago at Pag-asenso,” under the said program, those interested can avail not only of a financial loan but of food carts as well.

Applicants can avail of the loans through DTI’s Negosyo Centers if and when the ECQ is lifted on April 12.

 

 
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