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Manila Bulletin devider Business devider SB Corp. approves over P4-B loans to micro enterprises

SB Corp. approves over P4-B loans to micro enterprises

Published May 22, 2021 06:00 am

SB Corp., the government’s micro financing arm, has approved P4.03 billion in total loans from 28,610 applications as of mid-May this year as the government continues to support micro entrepreneurs recover from the impact of the pandemic.

At the launch of the Shell Marilao Mobility Station, Trade and Industry Undersecretary Blesidla Lantayona said that of this amount P367 million were approved for 2,432 applicants coming from Region 3 (Central Luzon). 

The Bayanihan 2 Act has allocated P10 billion for SB Corp’s COVID Assistance to Restart Enterprises (CARES) 2 Program. The CARES Program offers tax free loan with maximum of one year grace period. 

 Lantayona also highlighted new programs of the DTI to support micro, small and medium enterprises in making them competitive, especially with the challenges posed by the pandemic. 

For instance, she said that Negosyo Center, a one stop shop for MSMES services such as business registration assistance, advisory and market linkages, will go online soon. 

“This year, the Negosyo Center Online Portal (NCOP) will be launched. It promotes the digitalization of our MSMEs and is envisioned to bring all the services of a Negosyo Center in a digital platform to better reach potential and existing MSMEs,” said Lantayona. 

As of 31 March 2021, there are 1,176 Negosyo Centers established all over the country. 

Also, MSMEs can now process their DTI Business Name Registration or Renewal 24/7 through online.

With the roll out of Business Name Registration System Next Generation (BNRS Next Gen), sole proprietors who wish to register their business names with DTI may now apply and pay online. DTI has expanded payment options through Landbank’s Link.Biz, cash payments via 7/11 or Bayad Center and thru other banks voa PCHC PayGate (bank transfer). 

Lantayona also urged micro enterprises to register under the Barangay Micro Business Enterprise (BMBE) Act of 2002 or Republic Act No. 9178.

The law provides for incentives and benefits which include income tax exemption, minimum wage exemption, special credit window in select banks, and provision of various business development service

for barangay microenterprises.

The DTI has also strengthened the Kapatid Mentor ME (KMME) Program, the most comprehensive program for MSMEs that we have in the country today, giving the MSME mentee an experience that is akin to attending an abridged mini MBA program. 

KMME is jointly run and implemented by the Department of Trade and Industry and PCE Go Negosyo under a public- private partnership business model. Since its implementation in 2016, KMME has already conducted 393 runs in all the regions and provinces across the country; graduated 8,787 mentees; served 33,445 MSMEs and certified close to 800 mentors. Its modules have undergone several reviews and revisions; and because of the pandemic, KMME has transitioned from face to face to virtual or online since March of 2020. 

Other DTI programs include the CTRL + BIZ Reboot Now, which offers a series of FREE webinars that are targeted to MSMEs who need to transform their business digitally. 

The Shared Service Facilities (SSF) Project, a flagship project of the DTI, seeks to improve MSME competitiveness by providing machinery, equipment, tools, systems, accessories and other auxiliary items, skills and knowledge under a shared system. The facilities have helped the beneficiaries increase their production capacities and improve product quality, resulting to increased markets, increased sales, and jobs generation. 

For market linkages, the One Town One Product (OTOP) Philippines is assisting MSMEs in the area of product design and development, packaging and other critical assistance needed to improve the marketability of the MSME products. It also provides opportunity for the MSMEs to market their products physically thru the OTOP Hubs and online through the digital platforms.  As of March 2021, DTI has launched a total of 61 OTOP Hubs nationwide. Soon, OTOP will open a 24/7 Online Store-- it will be a platform for MSMEs, particularly, our OTOPreneurs to exclusively sell OTOP products online and reach a wider market. This OTOP website will serve not only as an online OTOP hub/store but also as an e-commerce platform during virtual trade fairs. Through this, MSMEs and OTOPreneurs will still get a chance to promote their products not only locally but also globally.

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