Filipino exporters who would want to expand market reach globally, and those categorized as micro, small and medium enterprises (MSMEs), can avail for as much P20-million loan from the Small Business Corporation (SBCorp).

According to SBCorp Public Relations officer III Precious Joy Pacho, SBCorp offers Export Business Expansion Financing and the MSME Business Fund (MBF) programs, which provide P30,000 to P20 million in financial support to MSMEs.

Pacho said loans under the Export Business Expansion Financing program can be used to secure export markets through business expansion or increasing production capacity and modernization, such as procuring equipment and machinery, among others.

“The loan carries an interest rate of only 1 percent per month based on a diminishing balance, resulting in total interest of just P6,618.50 over a 12-month term, compared with P12,000 under a fixed-rate computation, making it an affordable financing option. This is how great the DTI SBCorp program is for our small entrepreneurs,” she said in Filipino during the masterclass webinar series organized by Globe Business.

SBCorp earlier said loans of up to P3 million under this program are collateral-free. 

Further, Pacho said the MBF provides financial support to existing MSMEs affected by the Middle East crisis, enabling them to manage supply chain disruptions, rising logistics costs, cash flow constraints, and limited           access to financing.

She said it offers several financing options tailored to different business needs, including MBF Micro Multi-Purpose Loan for enterprises with at least one year of business operations, and the MBF SME First Timers Loan for businesses with a minimum two-year track record. 

“Businesses with at least two years of operating history may qualify for loans of up to P20