THE Department of Science and Technology (DOST) is continuously implementing a program to support micro, small, and medium enterprises or the so-called micro, small and medium enterprises (MSMEs) in Central Luzon.
During the Talk Widus media forum of the Pampanga Press Club (PPC) at the Widus Hotel and Casino here Wednesday, March 6, DOST Central Luzon senior science research specialist Jenina Malonzo said the program is aimed at maximizing the productivity of the MSMEs in the region.
The DOST’s flagship program dubbed SetUp or Small Enterprise Technology Upgrading Program, which started in 2002, was implemented to help MSMEs upgrade processes and current technology to improve their production.
“Minsan tinatawag ko po itong tatlong Ms e. Mapabilis yung kanilang produksiyon, mapaganda ang kalidad ng kanilang produkto at maparami ang kanilang produksiyon (Sometimes I call this the three Ms, meaning speed up production, increase the quality of their products and volume),” Malonzo said.
The program helps small enterprises meet the requirement of the international market and at the same time be locally competitive, according to the DOST official.
The agency provides funds, through a loan assistance program, to help MSMEs expand their businesses with the adoption of new production methods.
What is good about the SET UP program is that the agency collects no interest and requires no collaterals from the enterprises that secure loans for their respective businesses, according to Malonzo.
“So nagbibigay po kami ng pondo para makapag-adopt po sila ng mga makabagong makinarya na makakatulong sa kanilang business. Ang kagandahan po ng SetUp na ito is no interest, no collateral at payable pa po siya from three to five years para hindi naman po mabigatan ang ating mga MSMEs (We give them funding so they can adopt new machineries to help them in their business. What is good about SetUp is that it has no interest, no collateral and is payable from three to five years so they will not be burdened),” she added.
Enterprises may borrow up to P3 million from the agency’s regional office, Malonzo said.
Loan applications that exceed P3 million will be endorsed to the DOST national office for approval, she added.
Malonzo urged businessmen engaged in small and medium enterprises who are interested to avail of the program to visit the DOST regional office at Maimpis in the City of San Fernando.