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Low interest loans available for small businessmen post-lockdown: trade chief

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/news/04/03/20200331-covid-las-pinas-market-gc-6780.jpg"/><figcaption>Stall owners install plastic barriers and encourage physical distancing at the Las Pinas City public market on March 31, 2020. <em>George Calvelo, ABS-CBN News</em></figcaption></figure></div><p>MANILA -- Small and medium enterprises can avail of loans up to P500,000 to reboot from the coronavirus lockdown, Trade Secretary Ramon Lopez said Friday.</p><p>The government is offering up to P200,000 for micro SMEs and up to P500,000 for medium-sized firms, with 0.5 percent monthly interest and payable in 2 to 5 years. There will be a grace period of 5 to 6 months for payments, Lopez said.</p><p>Micro businesses have P3 million in assets, small firms have P3 million to P15 million while medium enterprises have P15 million to P100 million, according to the government&#x27;s definition.</p><p>&quot;Ayuda ito sa kanilang working capital para makabangon agad (This will boost their working capital, helping them recover),&quot; he said.</p><p>The loan fund, dubbed Pondo sa Pagbabago at Pag-asenso, will include food carts, Lopez said.</p><p>Businessmen can apply for loans at the Department of Trade and Industry&#x27;s Negosyo Centers after the lockdown, which is scheduled to end on April 12.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/02/20/small-businesses-get-30-day-moratorium-on-rent-payments-covid-19-task-force">Small businesses get 30-day moratorium on rent payments: COVID-19 task force</a></li>	<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><figure class="op-interactive"><iframe src="https://www.youtube.com/embed/WA1noV1mcH4?enablejsapi=1"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Small and medium enterprises can avail of loans up to P500,000 to reboot from the coronavirus lockdown, Trade Secretary Ramon Lopez said Friday.</p>

Small and medium enterprises can avail of loans up to P500,000 to reboot from the coronavirus lockdown, Trade Secretary Ramon Lopez said Friday.