LATEST NEWS

Senator Juan Edgardo “Sonny” Angara on Thursday urged the Small Business Corporation (SBCorp) and the Department of Tourism (DOT) to utilize the unspent funds from Bayanihan to Recover as One Act or Bayanihan 2 to help the Philippine tourism industry restart activities after a two-year slump due to the impact of the Covid-19 pandemic.

Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI) catering largely to micro small and medium enterprises (MSMEs), is seeking partnership with large fast-moving consumer goods (FMCG) companies, specifically those involved in food manufacturing, supply, or distribution, on its new financing program.

 Amid an apparent take up of the government micro financing facility, Trade and Industry Secretary Ramon M. Lopez has reiterated his call to all micro small and medium (MSMEs)  that wish to restart or to strengthen their business operations to avail of the Bayanihan CARES lending fund.

Small Business Corporation or SBCorp., the government’s micro financing arm, has released more than P2 billion or 20 percent yet of the P10 billion allocation under the Bayanihan to Recover as One Act or Bayanihan 2 for the micro small and medium enterprises (MSMEs) as of the first week of February this year.

Senator Ralph Recto yesterday sought for an accounting of the funds being allocated to government financial institutions for lending to the micro, small and medium enterprises (MSMEs).

Senator Ralph Recto yesterday sought for an accounting of the funds being allocated to government financial institutions for lending to the micro, small and medium enterprises (MSMEs).

With the Bayanihan to Recover as One Act (RA 11494)  signed into law, a P10- billion fund has been allotted to  The Small Business Corporation (SBCorp), the government’s micro financing arm.