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Saturday, July 20, 2019

DTI upbeat on P1 billion per region loan for micro entreps

THE Department of Trade and Industry (DTI) is optimistic that the national government will regularly allocate a fund of P1 billion per region which can be availed by micro enterprises.

Bureau of Small and Medium Enterprise Development Director Jerry Clavesillas, who spoke at the 1st NIR MSME Summit at SMX Convention Center in Bacolod City Wednesday, July 20, said there is a pending legislation that provides inclusion of the funding in the regular budget allocation.

Clavesillas said there was already a previous instruction from President Rodrigo Duterte to allocate P1 billion for every region for the implementation of the Pondo sa Pagbabago at Pag-asenso, the government’s financing program which aims to assist small businesses that usually depend on 5-6 lending.

However, the budget should be realistic since the program is just starting that is why the government initially provided P1 billion only covering beneficiaries across the country, he added.

“Adding allocation would benefit more micro enterprises resulting to a stronger magnitude of impact to them,” Clavesillas said, noting that access to finance has always been the clamor of most entrepreneurs.

The DTI official pointed out that the government is really doing its share to address pressing challenges of the local enterprises, especially the small ones, like the need for capitalization.

Micro enterprises, for their part, should then ensure that money is put in productive enterprises.

“It should be used for businesses so that they can be able to earn something to augment their livelihood,” he said.

In Negros Occidental, DTI Provincial Director Lea Gonzales said thousands of micro enterprises are expected to benefit from the program.

Gonzales, however, said although there are already accredited financial institutions in the national level like Cebuana Lhuillier, Radiowealth Finance, Taytay sa Kausgwagan, and Tulay sa Pag-unlad, the system is not yet downloaded in other provinces.

“Technically, its available nationwide but we still do not have the accredited financial institutions here in Negros Occidental,” she said, adding that “as soon as it is okay, we will setup a forum and announce that the fund is already available to our micro enterprises.”
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