Sari-sari stores get P10K in aid

Strengthening micro-businesses is one of the priority interventions of DTI, and the ReSTART program will be of great significance and of far-reaching benefit to our micro-entrepreneurs

A public-private partnership will throw a lifeline to sari-sari stores,

carinderias and other micro business operatiuns which were heavily affected by the community quarantine restrictions in response to the coronavirus disease 2019 (COVID-19) pandemic.

Coca-Cola Philippines has partnered with the Department of Trade and Industry (DTI) and two of the country's leading micro-financial institutions to provide P157 million in funds to more than 15,000 retailers.

The beverage company, together with DTI, ASA Philippines Foundation Inc. (ASA) and Alalay sa Kaunlaran Microfinance Social Development Inc. (ASKMSDI) have recently established ReSTART or Rebuilding Sari-Sari Stores Through Access to Resources and Trade program.

“Strengthening micro-businesses is one of the priority interventions of DTI and the ReSTART program will be of great significance and of far-reaching benefit to our micro-entrepreneurs,” Department of Trade and Industry Secretary Ramon Lopez said.

“Through the program components and their objectives, ReSTART will translate to the continuous recovery of the thousands of affected communitybased micro-retailers, and in turn, to their employees and the general community around them,” he added.

Rescue cash

The ReSTART program will provide P10,000 loan packages to micro, small and medium enterprises (MSME), particularly sari-sari stores and carinderias, to help enable them to get back on their feet and sustain safe operations amid the pandemic. Fund managers ASA and ASKMSDI will take charge of the fund delivery to target beneficiaries.

The loan package comprises 60 percent in goods and products and 40 percent cash, with up to four loan cycles with a 0 to 0.5 percent service fee to be availed. “Safe Store” kits for COVID-19 transmission prevention, consisting of a storefront plastic cover, reusable face mask, face shield, and a change/counter tray, will also be provided.

“Coca-Cola recognizes the significant role that micro-retailers play in helping sustain the economy and our business. For the past decade, we have been supporting partner sarisari store owners through a holistic economic empowerment program and we are determined to continue investing in them in the long run,” Winn Everhart, Coca-Cola Philippines president and general manager, said.