DTI Provides Loan Facility for MSMEs

Microbusinesses can secure a loan of up to P200,000 with interest of up to 2.5% with no collateral requirement. 

The Department of Trade and Industry’s (DTI) Small Business Corporation instituted the Pondo sa Pagbabago at Pag-asenso as Enterprise Rehabilitation Financing facility which shall be available once community quarantine is lifted.

Eligible entities for the Pondo sa Pagbabago at Pag-asenso are microbusinesses with total assets not exceeding P3 million.

Interested businesses may apply by submitting: (1) an accomplished loan application form; (2) a government-issued ID; (3) a Barangay/Muncipal Business Permit; (4) DTI business name registration; (5) evidence of micro enterprise activity for at least one year (certification by LGU and/or other government offices are acceptable); and (6) proof of one (1) year residence such as Barangay certificate. The loan application form can be obtained from the SBC’s partner institutions.

A complete list of SBC’s partners is available here.

Project Lifeline’s lawyers can help you fill-up and process your application at no charge.

Need help  protecting your business during and beyond COVID-19? We’re here to listen and help.

Project Lifeline is a partnership between UnionBank, MOSVELDTT Law, Rappler, and Bounceback PH to provide legal and financial solutions for Business Owners. Just sign-up here and let us help you.