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Small businesses get 30-day moratorium on rent payments: COVID-19 task force

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Arianne Merez, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/reuters/03/26/20200324-closed-shops.jpg"/><figcaption>A man sits outside closed shops following the lockdown in the Philippine capital to prevent the spread of the coronavirus disease (COVID-19), in Manila, March 24, 2020. Eloisa Lopez, Reuters</figcaption></figure></div>MANILA -- Small businesses will get a 30-day moratorium on rent payments in commercial spaces, Cabinet Secretary Karlo Nograles said Thursday.The reprieve covers commercial rent of micro, small, and medium enterprises (MSMEs) for the month-long period of the enhanced community quarantine in Luzon, Nograles said.&quot;Tulad ng residential units, may 30-day grace period na rin po sa pagbayad ng upa sa commercial spaces na ginagamit ng malilit na negosyo o MSMEs,&quot; Nograles said in a virtual press briefing.(Like residential units, there is also a 30-day grace period for the payment of commercial rent used by small businesses or MSMEs.)The Department of Trade and Industry will formulate guidelines, he said.The government earlier imposed a 30-day moratorium on payments of residential rents and loans.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/01/20/loans-lockdown-30-days-payment-grace-period-coronavirus-philippines">All loans due during lockdown period get 30-day payment extension, gov&#x27;t says</a></li></ul>The entire Luzon was placed under enhanced community quarantine to stop the spread of COVID-19 from March 17 to April 12.

Small businesses will get a 30-day moratorium on rent payments in commercial spaces, Cabinet Secretary Karlo Nograles said Thursday.

Small businesses will get a 30-day moratorium on rent payments in commercial spaces, Cabinet Secretary Karlo Nograles said Thursday.

Small businesses get 30-day moratorium on rent payments: COVID-19 task force

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Small businesses get 30-day moratorium on rent payments: COVID-19 task force

Arianne Merez,

ABS-CBN News

Published Apr 02, 2020 01:30 PM PHT

|

Updated Apr 02, 2020 01:35 PM PHT

Read More:

rent moratorium

commercial rent moratorium

IATF

coronavirus

COVID-19

Karlo Nograles

MSMEs

business Philippines

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