Marawi residents get P31M loans

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    The Small Business Corp. (SB Corp) has released P31 million worth of loans to those displaced by the Marawi City siege in 2017, benefitting 402 uniformed personnel.

    The SB Corp. said the borrowers availed loan amounts ranging from P40,000 to P100,000As of October 18.

    SB Corp., the financing arm of the Department of Trade and Industry, has provided livelihood assistance to at least 457 Marawi entrepreneurs with loan total amounting to P7.6 million under the administration’s landmark program Pondo sa Pagbabago at Pag-asenso (P3) Program. Loan beneficiaries has availed loan amounts ranging from P10,000 to P20,000.

    The loan assistance follows Administrative Order No. 03 mandating the creation of an inter-agency task force that would implement the recovery, reconstruction, and rehabilitation of Marawi City and provide livelihood to displaced in Marawi City and other affected localities.

    The SB Corp also extended assistance to wounded and deceased government uniformed personnel under its special program for the Wounded-and-Killed in Action (WIA-KIA), an offshoot program to help soldiers and policemen who were either killed or wounded during the Marawi conflict, also from the P3 program.