The Department of Trade and Industry (DTI) is set to roll out a ₱1-billion loan program for prospective women entrepreneurs, as part of the agency’s broader effort to diversify income opportunities for micro, small, and medium enterprises (MSMEs).

During the media launch of the Section G: Job Blueprint for Wholesale and Retail Trade on Monday, June 16, DTI Secretary Cristina Roque said this loan is the latest initiative of Small Business (SB) Corp.

SB Corp., the financing arm of the DTI, has allocated ₱10 billion in funding this year for the loan programs of MSMEs.

The state-run firm’s financing programs include business expansion, purchase order, franchising loan, wholesome loan, and enterprise rehabilitation, among others.

“Soon I'll be launching a ₱1 billion women's enterprise fund. So, the women that want to get into business will be able to borrow from SB Corp.,” Roque said in a chance interview.

The DTI chief said this loan program will be available for all women looking to establish a business in the country.

While other details were not disclosed, the loan is expected to have no required collateral, which means a loanee will no longer need to pledge a valuable asset as security for the loan.

Roque added that payment for the loan will start in the second year, with loanees having the option to “choose interest alone, or principal alone, or below principal and interest.”

Similar to other loans under SB Corp., those who want to tap the women’s enterprise fund will be able to get a loan with just their government ID. If qualified, the loan will likely be approved within a week.

On Monday, the DTI officially launched the Section G: Job Blueprint, in partnership with the Philippine Retailers Association (PRA) and the Supply Chain Management Association of the Philippines (SCMAP).

According to the DTI, the blueprint will serve as a framework designed to boost competitiveness and enhance resilience of wholesale and retail businesses, from major distributors to sari-sari stores.

Based on government data, the wholesale and retail sector accounted for approximately 75 percent of the nation's gross domestic product (GDP) last year, valued at ₱20 trillion.

Among its main priorities is to empower sari-sari stores by enabling them to earn income through other sources.

Roque said this vision will be realized through the so-called sari-sari store fund, which will allow owners access to loans to expand their businesses beyond retail.

“We need to let them diversify. So, what is the best way? Number one, service. Because sari-sari stores cater to the community around,” she said.

For instance, the secretary suggested that small business owners could shift to services such as salon and massage to keep their income going despite slowdown in sales.