A new P7-billion financing program is being rolled out to help small businesses cope with rising fuel costs, with the private sector taking a more active role in screening and facilitating loan access.
Philippine Chamber of Commerce and Industry (PCCI) and Small Business Corporation (SBCorp) have formalized a partnership to expand the reach of government-backed credit to micro, small, and medium enterprises (MSMEs), particularly those facing cost pressures from higher energy prices.
Under the agreement, PCCI will act as a conduit for applications, working through its network of local chambers nationwide to validate and endorse eligible borrowers before submission to SB Corp. The approach is aimed at streamlining processing and improving access for businesses outside major urban centers.
PCCI President Ferdinand “Perry” Ferrer said the initiative targets sectors seen as critical to economic recovery and growth. “This undertaking was initiated by Trade Secretary Roque through the SB Corp. to extend loan assistance to MSMEs. We have secured a P7B loan project with SB Corporation for enterprises that are in three priority sectors – women-led, export development, and returning OFWs,” he said.
The facility is part of the RISE UP (Resilient, Innovative, Sustainable Enterprises) lending program, which offers financing ranging from P30 million to P50 million per borrower. The loans may include flexible terms such as up to a one-year grace period and, in some cases, no collateral requirements.
Eligible applicants must meet standard criteria, including majority Filipino ownership, asset limits of up to P100 million excluding land, at least one year of operating history, and a clean credit standing under existing SB Corp programs.
Ferrer said PCCI’s role is to ease the burden on applicants and accelerate approvals. “The loan program is not only for PCCI. We are here to help facilitate the screening and processing of documents, making it easier for SB Corporation to accept and confirm applications,” he added.
The initiative reflects broader efforts to cushion the impact of higher operating costs on MSMEs, which are widely regarded as a key driver of employment and economic activity. “The private sector and government need to work together to find innovative solutions to help our MSMEs, widely recognized as the backbone of our economy. Aside from fuel cost reduction measures, we are also working on other solutions to help MSMEs lessen the burden,” Ferrer said.