Go pushes MSME lending expansion

Melting pot Former Special Assistant to the President and aspiring senator Christopher Lawrence “Bong” Go speaks with rookie, budding and existing entrepreneurs during the Go Negosyo “Mentor Me on Wheels” program which seeks to impart new and effective ways of franchising for micro, small and medium enterprises. PNA

Former Special Assistant to the President (SAP) and senatorial aspirant Christopher Lawrence “Bong” Go on Wednesday assured entrepreneurs that he will help the Duterte administration to expand its lending program to micro, small and medium enterprises (MSME).

In a speech before aspiring and veteran entrepreneurs during the “Mentor Me on Wheels” event held at SM Megamall in Mandaluyong, Go said he will push for the expansion of the program “Pondo sa Pagbabago at Pag-asenso” or P3 launched by the Department of Trade and Industry (DTI).

The P3 is a lending program worth P1 billion and aims to help MSME as the interest rate for amounts lent to MSME via P3 is at 2.5 percent per month only.

“I will push for the expansion of the DTI’s P3 to allocate a bigger MSME fund that will pave the way for giving capitals with lower interest rates,” Go said. “It’s important to give our small and medium entrepreneurs the financial assistance they need to prevent them on clinging to loansharks.”

Mentor Me on Wheels is a free one-on-one mentoring activity on business franchising under Go Negosyo — the advocacy arm of the Philippine Center for Entrepreneurship which is a non-stock, non-profit organization.

The former SAP also shared his plans for entrepreneurs, saying he is pushing for shared manufacturing machineries at processing facilities to minimize operation expenses of the aspiring small and medium entrepreneurs.

“I am also seeking to have free training and seminars like this that will impart knowledge on effective branding, packaging, marketing and others,” said Go. “We have a lot of world-class products and I will ensure that we will find ways to help them promote their products in international markets.”

Go stressed that he is just following up on Duterte’s programs to improve the business climate in the country, citing passage of the Ease of Doing Business Act, the launch of the 8888-hotline for complaints against fixers, scalawags, corruption or poor government service, as well as Malacañang’s order requiring government offices to respond to all public requests and concerns with 15 days from receipt.

The President’s former top aide also noted that Duterte is unrelenting on his campaign against corruption.