Wed, 11 Dec 2019

DTI's P3 funds open to MSMEs

Philippine Information Agency
11 Nov 2019, 16:38 GMT+10

SAN JOSE, Antique, Nov. 11 (PIA) -- The Pondo sa Pagbabago at Pag-asenso (P3) program is still accepting applications from micro, small and medium enterprises that would like to avail of the micro finance program with very minimal interest.

Gabriel Ebanen of the Small Business Corporation (SBC) during the media conference organized by DTI-Antique said that the P3 program is still open to entrepreneurs who need additional funds to sustain or upscale their businesses.

DTI Provincial Director Mercedes A. Young likewise urged local entrepreneurs to avail of the Pondo sa Pagbabago at Pag-asenso program.

The P3 direct loan application is only limited to P5,000 - P200,000. It should have at least 12 months of continuous operation and with asset size of not more than P3M.

Ebanen emphasized that the business site should be within one hour public transportation from SBC office, which in this case is DTI-Antique in San Jose de Buenavista. The municipalities covered are Patnongon, Belison, Sibalom, San Remigio, San Jose, Hamtic and Tobias Fornier.

For municipalities not listed above, interested applicants could apply through the conduits of SBC which are Pandan Multi-purpose Coop, Valderrama Multi-Purpose Coop, Hamtic Multi-purpose Coop and Malandog Family Life Multi-purpose Cooperative.

SBC has approved a total of 132 projects and released financial assistance in the amount of P3.6M since 2018.

As of October 2019 there are 21 applicants and seven of which are renewal from the nine fully paid accounts in 2018.

Ebanen urged the borrowers to use the financial assistance properly to upscale their business and pay their amortization on time through the collection system they have agreed upon.

The Media Forum dubbed "Hinun-anun" facilitated by DTI Antique provided the local media practitioners with latest update on the programs and services of DTI-Antique (LTP/PSM/PIA-Antique)

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