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Rain continues to pour on pedestrians and motorists near EDSA in Quezon City on September 4, 2024, hours after tropical storm Enteng exited the Philippine area of responsibility. State weather bureau PAGASA said some areas in Luzon are still expected to experience rains as Enteng continues to enhance the habagat. Maria Tan, ABS-CBN News

Article (news)

Pia Gutierrez

ABS-CBN News

MANILA - Small businesses affected by recent typhoons may be able to seek loans under the Small Business Corporation’s Enterprise Rehabilitation Financing Program, an official said Tuesday.According to the agency, the program is intended as an emergency fund for working capital to finance the financial impact on MSMEs brought by Typhoon Carina, including damages to fixed assets, inventories, operational disruption, and revenue loss.According to Small Business Corporation President and CEO Robert Bastillo, the loan facility is open for registered MSMEs with business operations in areas declared to be under a state of calamity by the NDRRMC.“Ang loan na maari nilang hiramin hanggang P300,000,” Bastillo said. “Zero interest in the first year at magsisimula ang 1% interest per month on years 2 and 3. Hanggang 3 taon pwedeng bayaran.”Borrowers may also be given a grace period of up to three months after the first year, he said.Among the documentary requirements for the loan are the following:1. Government-issued ID of the sole proprietor/ Managing Partner/ President CEO2. Mayor’s Permit/ Barangay Micro Business Enterprise (BMBE) Certificate for loans more than PhP 100K; or Barangay Certification for loans up to PhP 100K3. Bank or e-money account details (must be under the name of the sole proprietor, partnership, or corporation)“Mabilis lang (ang processing ng loan), ang target natin ay one week para diyan, bagamat kung may kaunting hitch, hindi naisubmit halimbawa ang business permit, ay tatawagan natin yon, baka magtagal pa sya,” he said.SB Corp is accepting applications through the loan portal at https://brs.sbcorp.ph and will remain open until the end of September 2024.Meanwhile, the PAG-IBIG Fund reports the disbursement of a record P77.3 Billion for housing loans from January to August of 2024. This is P383 higher than the amount disbursed in the same period last year, according to Atty Karin-Lei Garcia, VP for Public Relations and Information Services Group for the PAG-IBIG Fund.Loan collections for the period are at P57 Billion, Garcia said.

Small businesses affected by recent typhoons may be able to seek loans under the Small Business Corporation’s Enterprise Rehabilitation Financing Program.

Small businesses affected by recent typhoons may be able to seek loans under the Small Business Corporation’s Enterprise Rehabilitation Financing Program.

Loan facility launched for MSMEs hit by recent typhoons

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Loan facility launched for MSMEs hit by recent typhoons

Pia Gutierrez,

ABS-CBN News

Published September 10, 2024 02:41 PM PHT

Read More:

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SB Corp

Enterprise Rehabilitation Financing Program

MSME

small business

loans

typhoon Carina

typhoon Enteng

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