Guv launches loan program for MSEs

Local News Official
Local News OfficialSunStar File Photo

CITY OF SAN FERNANDO -- The Provincial Government of Pampanga, in partnership with the Pampanga Chamber of Commerce and Industry (PamCham) and the Department of Trade and Industry (DTI), launched the “Pampanga Loan Assistance Program for Micro and Small Enterprises (MSEs)."

The program is aimed to provide financial support and capability enhancement to micro and small businesses in the province.

Governor Dennis Pineda, together with PamCham President Terry David-Carlos, PamCham Chairman Jess Nicdao, and other officials from the chamber and DTI, led the program launching during the 78th General Membership meeting of PamCham at the Laus Events Center on Wednesday, July 10.

PamCham data revealed that MSMEs constitute 99.5% of all businesses nationally, with micro-enterprises making up approximately 89% and small enterprises around 10%.

These enterprises contribute about 35% to the Philippine GDP, underscoring their significant economic potential, the chamber said.

The loan program was established in accordance with Sangguniang Panlalawigan Ordinance No. 866, Series of 2024.

The provincial government recognizes the vital role of this sector in the province's economy.

The provincial government and PamCham assist small businesses in recovering from the impacts of the COVID-19 pandemic.

Through the said ordinance, MSEs can now avail loans ranging from P50,000 to P100,000 without any interest or collateral.

The loan repayment period ranges from 6 to 24 months, with an additional 2-month grace period.

Pineda stated that the provincial government allocated P40 million for the first year of implementation of the program.

The initial batch of beneficiaries consists of 10 MSE owners, each receiving a loan of PHP 100,000.

“Masaya po ako, first time po na makapartner po ng PamCham ang probinsya sa ganitong klaseng programa. Umaasa po ako na magtuloy-tuloy po ito hanggang sa marami po tayong negosyong matulungan. Sa mga recipients po ng loan assistance, congratulations po! Pakiusap ko po sa inyo bilang isang negosyante din, bigyan po natin ng halaga ang commitment natin at obligasyon natin sa ating negosyo,” the governor said.

PamCham expressed gratitude to the governor for his administration’s commitment to providing MSEs with financial support, helping them avoid predatory lending practices.

“By providing accessible financial support through the Loan Assistance Program, you are not only helping these businesses avoid predatory lending practices but also enabling them to thrive and become more productive. We express our deepest appreciation for your dedicated efforts and commitment to uplifting the micro and small enterprises in Pampanga. Your leadership is instrumental in ensuring sustainable economic development and prosperity for our province,” said Carlos.

Interested business owners may apply for the loan by visiting the Provincial Cooperative and Enterprise Development Office (PCEDO) or directly contacting DTI Pampanga and PamCham offices.

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