Daily Tribune
DAILY Tribune successfully hosted the 8th Asian Innovation Forum with the theme ‘Digital Pathways to Upscaling MSMEs’ at Dapitan Sports Complex on Thursday. Keynote speakers from leading financial institutions, digital payment companies and cooperatives, including SB Corp., Maya and Cebu CFI, provided valuable insights to help ordinary Filipinos build their businesses. Participants learned about securing loans and accessing institutional support, while also enjoying raffle prizes from sponsors and partners.
PHOTOGRAPH BY YUMMIE DINGDING FOR THE DAILY TRIBUNE @tribunephl_yumi
The Small Business Corporation (SBCorp), an attached agency of the Department of Trade and Industry (DTI), pitched on Thursday its various loan programs for micro, small and medium enterprises (MSMEs).
“We’re not new, we have been in existence for 32 years,” Eloisa Isip, SBCorp communications head, said after company president Robert Bastillo got DAILY TRIBUNE’s 8th Asian Innovation Forum rolling with an inspiring talk about business at the Dapitan Sports Complex in Manila.
“But now we are the only remaining and only government agency whose mandate is to help our MSMEs,” she added.
Among SBCorp’s offerings are multi-purpose loans for new MSMEs, those operating for at least a year, those in existence for two years, and the so-called suki borrowers in good standing with at least six months of repayment track record.
“In the multi-sectoral [loan facility], whatever the business is, it’s okay. Whether it’s a small restaurant or any business, it’s possible (to apply for a loan),” Isip said.
For Filipino-owned businesses, partnerships and corporations with assets of not more than P100 million, the maximum loanable amount is P20 million, she said.
For the SBCorp loans, the actual interest rate is one percent a month computed on the diminishing balance payable for up to three years.
Loan application requirements are government-issued IDs of the sole proprietor/managing partner/president CEO; mayor’s permit/barangay micro business enterprises certificate for loans of no more than P100,000 and barangay certification for loans up to P100,000; three pictures showing the business signage, inventories, and fixed assets; and bank or e-money account details.
MSMEs may receive their loans through fund transfer, bank transfer via Pesonet, or via e-wallet accounts, such as Maya or GCash. Loans may be paid through Bayad, Palawan, USSC, Maya, or GCash.
SBCorp is a non-bank government financial institution created in 1991 under the Magna Carta for MSMEs as amended by Republic Act 8289 and RA 9501. It is mandated to engage in developing initiatives for MSMEs.
Over 250 people participated in the 8th AIF with the theme “Digital Pathways to Upscale MSMEs.” Also participating were Cebu CFI Corp. and Maya.
