Thursday, July 05, 2007 Chamber to set up body to help SMEs By Joy Romares-Sevilla
THE Davao City Chamber of Commerce and Industry Inc. (DCCCII) is planning to create a body that will help address the needs of the small and medium enterprises (SMEs) in terms of fund generation.
Sofronio Jucutan, chair of DCCCII's SME Development (SMED) Council, said this, adding that body will enable SMEs to borrow money that ranges from P50,000 to more than P500,000.
"DCCCII will not going to compete with the micro lenders, but it will provide and will cater to the needs of the SMEs which micro lenders could not give," Jucutan Wednesday said.
Jucutan said the body, which will be named soon, will be managed by the Board of Trustees of the DCCCII.
He said the chamber will source out fund from the National Livelihood Support Fund (NLSP) that will be used by the SMEs as their capital outlay.
"SME members of the DCCCII will be the priority of the chamber, but we can also do business with the non-members," Jucutan said, adding that starting up businesses are not qualified to lend, only those who operate business for a year. (JGRS)
