TUGUEGARAO CITY, Cagayan, Sept. 3 (PIA) - - - The Department of Trade and Industry, through the Small Business Corporation (SB Corp), provided a P10 billion special loan package under the COVID-19 Assistance to Restart Enterprises (P3-CARES) which caters to micro and small enterprises affected by the pandemic.
For Region 2, around 313 MSMEs benefited from the program with a total of P16.5 million cumulative amount of released loans so far.
Of this total, 79 are from Cagayan amounting to P6.2-M; 111 are from Isabela amounting to P3.2-M, 36 are from Quirino amounting to P2.8-M , and 74 are from Nueva Vizcaya amounting to P4.3-M.
For the province of Batanes, 13 loan applications have recently been approved and are set to be released on the 3rd quarter of 2020.
Regional Director Leah Pulido Ocampo said that “the government recognizes the need to provide a stimulus package for MSMEs to restart the economy.
Ocampo further said that “the Bayanihan Act 2 will provide an additional loan facility of another P10 billion to accommodate more MSMEs”.
“The DTI understands that MSMEs are the hardest hit by this pandemic and hence, it continues to provide various assistances including financing,” she said. (MDCT/PIA-
Source: Philippines Information Agency (pia.gov.ph)
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