Muntinlupa City Mayor Jaime Fresnedi has released P1.8-million loan assistance to the 98 small and medium entrepreneurs (SME) as part of the local government’s project called “Tulong Negosyo” program.

The purpose of the Tulong Negosyo program, formerly called Dagdag Puhunan, is to help Muntinlupa residents to have a capital in starting a business and not to make a profit out of it.

Fresnedi, who led the release of the P1.8 million, said “The city government of Muntinlupa vows to support grassroot players through additional capital loan assistance and other capacity building trainings for them to thrive their business in the city.”

The Tulong Negosyo program caters to SME and provides micro finance assistance which ranges from P2,000 up to P150,000 depending on business capital ceiling and payment record.

The program has three categories, namely, Simulang Kapital or SIKAP Pangkabuhayan for clients with capital ranging from P10,000 to P75,000; Asenso Loan Program for clients with capital ranging from P75,000 to P100,000, and Maunlad Loan Program for clients with capital ranging from P150,000 to P300,000.

The loan assistance project also contains a “savings program” for the beneficiaries to learn the necessity and importance of economizing and serve as protection to the clients and the program, Fresnedi said.

In addition, entrepreneurial education through trainings and other related interventions have been implemented for the beneficiaries, Fresnedi added.