The Department of Trade and Industry (DTI) will request additional funding from the government to expand its financing program to provide more support for micro, small, and medium enterprises (MSMEs).

DTI Secretary Cristina Roque said the agency is looking for higher funding for the loan programs of the agency’s financing arm, Small Business (SB) Corp.

This year, SB Corp. has allocated ₱10 billion for its loan program aimed at strengthening MSMEs, which comprise 99 percent of the country’s business establishments.

“We can go higher because the President mentioned that there's really a push for the puhunan (capital). So, definitely, he can give more funding,” Roque said on the sidelines of Post-SONA Discussions on Tuesday, July 29.

Roque is referring to President Marcos’ statement in his recent State of the Nation Address (SONA), which he called for stronger support for MSMEs.

“Ipagpapatuloy natin ang pagbibigay ng puhunan sa mas marami pang negosyante para makapagsimula ng maliit na negosyo o microenterprise, sa mababang interest, at walang kolateral,” Marcos was quoted as saying.

(We will continue providing capital to more entrepreneurs so they can start small businesses or microenterprises, with low interest and no collateral.)

SB Corp.’s financing programs include business expansion, purchase order, franchising loan, wholesome loan, and enterprise rehabilitation, among others.

Last month, SB Corp. launched a ₱1-billion fund for women-led MSMEs, with loans ranging from ₱30,000 up to ₱20 million.

Roque said additional funding for the state-run financial institution will help fund new loans, covering more sectors.

One of the priority sectors, she said, is the creative industry which she said the country can harness to drive tourism and trade, similar what South Korea did.

Another focus is on the Halal industry, which is projected to reach $4.5 trillion on a global landscape by 2030.

“And I feel that we are ready, because all we need is the certification. So, we already have some funding for certification. That's where we get the funding to get the products certified,” she said.

From a business standpoint, the Philippine Chamber of Commerce and Industry (PCCI) said the administration’s plan to develop MSMEs is a major step in reducing poverty and hunger.

PCCI said providing capital support, in particular, was a key highlight of the SONA, which it described as “one of the most compelling speeches in recent history.”

“The Chamber encouraged similar coordinated policy mechanisms to advance other high-potential sectors,” it said in a statement.