DTI launches loan facility serving exporters

Small Business Corporation is a government-owned-and-controlled corporation under the Department of Trade and Industry that provides financing assistance to micro-small-and-medium enterprises. Photo shows SBC employees in its Northern Luzon office in Brentwood Village, Baguio City. | photograph courtesy of FB/small business corp

The Department of Trade and Industry’s attached agency, Small Business Corporation, said on Saturday that it is launching a “tailor-made” loan facility next month with an interest rate of seven percent to 12 percent per year.

During the Saturday News Forum, SB Corp. board director Voltaire Magpayo said the agency is planning to establish a loan facility that is very specialized for the needs of specific industries, particularly the exporters.

“We will be having a specific loan facility, especially for exporters,” Magpayo said, stressing that the feature would be appropriate to their needs.

“For example, we will create a loan facility that is appropriate for such exporters’ needs as export packing line,” he said, adding that the facility will be “very specialized for the needs of that particular segment of industry.”

SB Corp., a state-owned firm, was created by law to grant several low -interest, hassle-free, and collateral-free loan particularly for small and medium enterprises.

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