Access to finance

DBP offers loan packages to entrepreneurs

ACKNOWLEDGING that access to finance has been a major concern for small entrepreneurs, the Development Bank of the Philippines (DBP) now offers special loan packages to entrepreneurs.

Maria Belenda Q. Ambi, regional director of Department of Trade and Industry (DTI)-11, said the program of the bank is in partnership with Negosyo Center Davao, a facility managed by DTI through an inked memorandum of agreement (MOA) dated Sept. 8.

“These are offered most especially to those who belong to the micro, small and medium enterprises (MSMEs) seeking assistance in Negosyo Center Davao,” she said.

She added, to avail the loan packages, one must be a client of the facility. The MSMEs, Ambi said, can avail a maximum of P1 million loan from DBP.

For its pilot year, the DBP and DTI eye to benefit at least five entrepreneurs. The cities of Davao and Iloilo' are the pilot areas for the project.

“This is to provide financing to enterprises, which are channeled through the Negosyo Center,” Ambi said.

Apart from getting financial loans, MSMEs will also be trained on financial management.

Meanwhile, DTI Undersecretary Zenaida Maglaya said the signed agreement between DBP and Negosyo Center Davao paved the way to purposely “provide special packages of financing services and other needed support to MSMEs to ensure easy access to financing.”

Maglaya said that the Small Business Corp. and Land Bank are also part of the Negosyo Center, both have special loan packages designed for farmers especially those engaged in the cacao industry.