Nelson Morales

Entrepreneurs aged 18-30 can borrow up to P500,000 from SBCorp

Article (news)

Kaxandra Salonga

ABS-CBN News

MANILA — The Small Business Corporation (SBCorp) has allocated P1 billion for its Youth Enterprise Fund, which provides loans to young entrepreneurs.Wally Don Calderon, head of the SBCorp Innovation and Advocacy Group, said the program offers loans worth P30,000 to P500,000 to help young entrepreneurs start or expand their businesses.“Ang mga young entrepreneurs na may edad 18 to 30 years old ang puwedeng mag-access nitong Youth Enterprise Fund,” Calderon said in an interview with Bagong Pilipinas Ngayon.He said the loans have a maximum term of three years, or 36 months, with an interest rate of 1 percent per month based on the minimum balance.Calderon said the program also provides mentoring, capacity building, access to markets and assistance for entrepreneurs hoping to export their products.He added that SBCorp also has an e-transport loan, which assists public utility vehicle operators and drivers in shifting to electric vehicles.&quot;Kung gusto mong mag-transition to electric vehicles, may pautang din ng SB Corp,” Calderon said.He said the program is available to modernized jeepney operators and other public transport operators.

The Small Business Corporation (SBCorp) has allocated P1 billion for its Youth Enterprise Fund, which provides loans to young entrepreneurs.

The Small Business Corporation (SBCorp) has allocated P1 billion for its Youth Enterprise Fund, which provides loans to young entrepreneurs.