MSMEs get boost from loan drive

About 60 small businesses in Mamburao, the provincial capital of Occidental Mindoro, secured same-day loan approvals as government agencies ramped up financing support for micro, small, and medium enterprises (MSMEs), underscoring efforts to keep local enterprises growing.

The assistance was rolled out through a regional loan fair led by the Department of Trade and Industry and Small Business Corporation, in coordination with local officials.

Quick access to capital

The initiative focused on providing quick access to capital, often cited as a key barrier to business expansion in provincial areas.

“Across the country, it is small entrepreneurs who truly bring life and color to business. We are all entrepreneurs, and I understand the difficulty when capital is lacking — business cannot move. MSMEs are the real drivers of the economy, which is why I will continue to support strengthening the sector,” Congressman Odie Tarriela said in Filipino.

Step forward

For his part, Mayor Atty. E-K Almero said the town’s inclusion in the program marks a step forward for local enterprise development. “Let us make the most of whatever support is granted to help our fellow citizens. Business growth has a multiplier effect — when enterprises expand, they need more workers, which creates more jobs. It benefits not only individuals but the entire community. Whatever obligations come with it, we must fulfill them,” he said in FIlipino.

Local officials and business leaders also welcomed the initiative, noting that access to financing can help prevent closures, protect jobs, and sustain economic activity in the province.