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Tuesday, June 01, 2004
Loans for trade fairs available: Philexport
EXPORT and Industry Bank (EIB) has opened a lending window for exporters who want to join local and international trade fairs.
According to Philippine Exporters Confederation Inc. national chairman Paterno Dizon, EIB is the only financing institution extending loans to participants of local and international trade fairs.
The maximum loanable amount for local trade fair participants is P100,000 and P300,000 for international fairs.
During their general membership meeting at the Montebello Villa Hotel, he told members of Philexport-Cebu that the Philexport secretariat is willing to facilitate the transaction.
Fund
Dizon said another program, the National Livelihood Support Fund (NLSF), is also extending financial assistance especially to small and medium enterprises (SMEs).
NLSF, a component of the “SME Unified Lending Opportunities for National Growth” or Sulong program of the Department of Trade and Industry, is a government entity attached to the Land Bank of the Philippines.
NLSF taps rural financial institutions, non-government organizations, cooperatives and local government units as fund conduits to deliver credit efficiently.
Dizon said Philexport is now piloting the approval of the financing support to the Christmas Décor Producers and Exporters Association of the Philippines by the NLSF.
Raw materials
Philexport-national has pledged to support Philexport-Cebu especially on issues troubling the sector such as the sourcing and supply of raw materials and other projects.
Dizon said Philexport national, through its regional support fund, is extending Philexport-Cebu some P500,000.
Portal
Philexport-Cebu president Allan Suarez said the chapter has agreed to use the fund for the establishment of its portal information vessel project, a website for Cebu exporters.
Dizon said Philexport-Cebu may save the amount for future projects if the Department of Science and Technology (DOST) approves the project to be part of its dotcom program.
Through the dotcom program, the DOST extends financial support to companies involved in information technology (IT) so that highly skilled and gifted IT experts can take advantage of the growing local e-commerce and favorable world economy.
Philexport national plans to endorse Philexport-Cebu’s project, together with the Infopoint project of the Gifts, Toys and Housewares Cebu Association, Dizon said. JBN
(June 1, 2004 issue)
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