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Manila Bulletin devider Philippines devider Pasig City formally launches loan program for economic recovery

Pasig City formally launches loan program for economic recovery

Published Jul 10, 2020 01:52 pm

Pasig City on Friday formally launched its “TAPAT” program which offers loans to entrepreneurs and job-seeking residents, as part of the local government’s efforts to recover from the economic impacts of the pandemic.

Pasig City Mayor Vico Sotto (KEVIN TRISTAN ESPIRITU/MANILA BULLETIN)

Mayor Vico Sotto said the city government has allocated P200 million for the TAPAT program, which will cover up to 40,000 beneficiaries.

TAPAT stands for “Tulong At Pampuhunang Ayuda para sa Taga-Pasig.”

Under the program, the city will provide three kinds of loans: Balik Negosyo, Bagong Negosyo, and Balik Trabaho.

Pasig City will offer P10,000 under the Balik Negosyo loan to micro, small, and medium enterprises that are in need of financial resources to modify their businesses in order to comply with the required health and safety measures under the “new normal.”

Under the Bagong Negosyo loan, the local government is offering P10,000 loan to those who want to start a small business.

Pasig City is also offering a P5,000 loan under Balik Trabaho for displaced workers who are now looking for a new job and in need of money to complete application requirements.

“First-come first-served ang processing ng mga aplikasyon (The processing of applications is first-come, first-served),” Sotto said in his Facebook page.

Interested applicants may apply through pasig.accessleap.com. Applicants may also visit the TAPAT Help Desk located at Career Center near Pasig City Hall.

“Pero hanggat kaya, sa online na tayo mag-apply, para mas ligtas tayo sa virus (But as much as possible, you may apply online in order for you to be safe from the virus),” he said.

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