P19B lent to MSMEs

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The Small Business Corp. (SB Corp.)  has lent nearly P19 billion to more than 300,000 beneficiaries under its various lending programs as of July 2022.

In its report, SB Corp.’s P3 or the so-called Pondo sa Pagbabago at Pag-Asenso  disbursed the biggest amount of P11.22 billion  and helped the most number of micro, small  and medium enterprises (MSMEs) at 264,457.

P3 fund is disbursed  through micro-finance institutions, cooperatives, and associations and was launched to give access to small companies to affordable financing and wean them away from 5-6 lenders.

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The second largest SB Corp loan program is the Bayanihan which had P6.73 billion in approved loans to 39,330 MSMEs. The Bayanihan CARES (COVID-19 Assistance to Restart Enterprises) disbursed P337.21 million to 752 borrowers.

The CARES Program is part of the administration’s economic relief program for MSEs affected by the COVID-19 pandemic.

Other loan programs are HEROES with  1,018 approved loans worth  P56.15 million; Enterprise Rehabilitation Financing for  Typhoon Odette  3,097 approved loans of  P252.44 million STAPLES, 29 approved loans worth P3.97 million and; RISEUP Multipurpose Loan,  993 approved loans for  P108.68.

HEROES or Helping the Economy Recover thru OFW Enterprise Start-ups is a program  for displaced, repatriated, or returning OFWs  who will establish their start-up businesses.

Under STAPLES or Sustaining Trade and Access to Primary Food and Link to Enterprises, MSMEs of fast moving consumer goods  companies can have access to collateral and interest-free loans from SBCorp for their working capital requirements.

RISE UP  caters to multi-sectoral MSMEs including existing SBCorp. borrowers which have survived the pandemic and need to be sustained. – Irma Isip

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