MANILA — On Monday, April 6, the Department of Trade and Industry (DTI) officially launched the ₱4-billion MSME Business Fund. This initiative aims to provide financial assistance to micro, small, and medium enterprises (MSMEs) to strengthen operations and expand businesses amid the ongoing crisis in the Middle East.
DTI Secretary Ma. Cristina Roque emphasized the importance of providing capital to businesses through the Small Business Corporation (SB Corp).
Loan Program Details
The fund offers qualified MSMEs the opportunity to borrow amounts ranging from ₱30,000 to ₱20 million, with a repayment term of up to five years.
- No Collateral: For loans up to ₱5 million, no collateral is required.
- Grace Period: Borrowers enjoy a one-year grace period with no payments required for both principal and interest.
- Purpose: To address supply chain disruptions, rising logistics costs, and cash flow challenges.
“This loan is no-collateral up to ₱5 million and includes one year of no payments for principal and interest. This one year is enough time for businesses to actually gain momentum,” said Secretary Roque.
She added that the fund also ensures continuous operations, the purchase of raw materials and equipment, and overall business development.
How to Apply?
The application process is designed to be quick and easy. Interested parties can apply online via sbcorp.gov.ph or visit any of the 18 regional DTI offices and 1,344 Negosyo Centers nationwide.
Required Documents:
- Government-issued ID
- Mayor’s Business Permit
- Proof of bank account
- Photos of the business
- Corporate documents (for corporations)
According to Roque, if documents are complete, the processing time takes only 7 to 10 days due to the digitized system.
High Demand Expected
Following the success of other DTI programs like the Women’s Enterprise Fund, the agency expects a high turnout for this program. The MSME Business Fund complements existing initiatives, such as the ₱2-billion OFW Negosyo Fund and the ₱2-billion Women Enterprise Fund, which offer similar conditions.
Secretary Roque encourages MSMEs to seize this government opportunity to fortify their businesses during these challenging times.
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