'Kristine'-affected MSMEs urged to avail of loan offered by DTI financing arm

The Manila Times

'Kristine'-affected MSMEs urged to avail of loan offered by DTI financing arm  Trade Acting Secretary Cristina Aldeguer-Roque urges the micro, small and medium enterprises (MSMEs) affected by Severe Tropical Storm 'Kristine' to avail of the loan offered by the agency's financing arm Small Business (SB) Corp. In a Palace briefing on Oct. 25, 2024, Aldeguer-Roque said the SB Corp. has a P2 billion fund for the rehabilitation of enterprises that were affected by the calamity.   Video by Catherine Valente  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe   Visit our website at https://www.manilatimes.net   Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion   Subscribe to our Digital Edition - https://tmt.ph/digital   Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer  Stitcher: https://tmt.ph/stitcher Tune In: https://tmt.ph/tunein  #TheManilaTimes #tmtnews #msmes #dti #kristineph

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00:00In any loan naman may mga hindi nagbabayar. But in general, because they need that to keep going, and mga super large, it's just for them.

00:13Like now, I totally changed the rules. It's not collateral anymore. It's PO financing, check release counting, receivables funding, franchise funding, startup funding, and then now this enterprise rehabilitation.

00:29So ang mga enterprise rehabilitation, nandiyan na sila. So we just have to bounce back. Sometimes let's say nasira lang yung...

00:38Q. They haven't approved na nasira tayong PO?

00:41SB Corp can really ask them, but it's not naman. And then the processing, before it used to take months, but now it's only 19 days. Then we're making it short to 7 days. Kasi we really want to loan out this money para makaahon sila.

00:55Q. At kano maraming interest?

00:58For the first year pala, zero interest. For the calamity fund, zero interest. Then the second year, it's 1% per month. But we don't need to pay the principal, just the interest.

01:11And then after that, or if you pay the principal, then there's a diminishing return. But aside from that, we also look for avenues for them to sell the products, which is why we're very aggressive in the trade shows.

01:23In case you see na dami-dami naming trade shows, we've really leveled up. Then we bring bulk buyers, we bring wholesale buyers, we also bring international, yung mga tao sa DTI who can really export their products also.

01:38So the sales have really grown. Like last time, let's say last year, 28 million sales. Ngayon nasa 72, 75 million na ang sales ng mga… So an laki na ng jump talaga. So the interest for these local products is really strong.

01:55Q. Ma'am, yung should be registered business to avail that?

01:58A. Yes, of course. You have to be registered and compliant. Meaning if you're selling food, you have to have FBA. Kasi harder naman for the people to consume the food na, hindi FBA. And mandate din ito ng presidente talaga is really to uplift and to really push and help the MSMEs. So that's why we're really aggressively involved.

02:19Q. Ma'am, gano'ng katagal yung release? Even halimbawa kompleto sila sa DOC?

02:23A. Usually, not so much. Kasi this money is really for… In case matagal yung release, you just email. I sent the email address so you can email us. But so far, we've been really putting out the money.

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