DTI-SBCorp adopts digitalization for loan application 

ILIGAN CITY, May 15 (PIA) -- To make government services closer to Filipinos during the coronavirus disease 2019 (Covid-19) pandemic, the Small Business (SB) Corporation has made available its zero-interest loan program online for micro, small and medium enterprises (MSMEs). 

“Medyo limitado ng atong lihok pero gipalapdan pa sa gobyerno ang iyang pamagi, pwede na mag-apply na online,”  said SBCorp provincial coordinator Evelyn Geronimo during the eighth episode of Kapehan sa Iligan Chamber.

[Our work is somewhat limited but the government has expanded its approach, you can apply online.]

SB Corp, a financing arm of the Department of Trade and Industry, aims to help MSMEs to recover from their losses due to community quarantines amid the pandemic and help them restart their business operations.

Geronimo added that P100 million has been allocated to MSMEs in Iligan City and Lanao del Norte. Of this, P21 377, 098.71 has already been released to 237 loan applicants. She also urged other MSMEs to apply for a loan since there is still a remaining P75 million.

“Dili mabalaka ang karon pa nakabalo na negosyante tungod kay dako pa ang budget na nabilin diri sa Lanao,” she added.

[The now-aware entrepreneurs should not worry because there is still a large budget left here in Lanao.]

The loans are available to MSMEs without requiring collateral and with a grace period. The financing arm does not collect interest from loans but instead charges service fees.

Geronimo shared that the minimum that an entrepreneur can loan is P10,000 and a maximum of P3 million. 

Interested applicants can visit www.bayanihancares.ph. Requirements include fully-accomplished loan application (thru our Online Loan Application), government-issued ID with picture, proof of permanent business address, photos or videos of business and bank account or Gcash account. (LELA/PIA ICIC) 

Source: Philippines Information Agency (pia.gov.ph)

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