{"id":84341,"date":"2017-01-09T05:53:16","date_gmt":"2017-01-09T10:53:16","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=84341"},"modified":"2017-01-09T05:53:16","modified_gmt":"2017-01-09T10:53:16","slug":"dti-to-pilot-run-php-1-b-microfinance-program-this-month","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/01\/09\/dti-to-pilot-run-php-1-b-microfinance-program-this-month\/","title":{"rendered":"DTI to pilot-run Php 1-B microfinance program this month"},"content":{"rendered":"
\"DTI<\/a>
DTI to pilot-run Php 1-B microfinance program this month
(Photo: DTI\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014The Department of Trade and Industry (DTI) is set to pilot-run a Php 1.0-billion microfinance program for local micro, small, and medium enterprises (MSMEs) this month.<\/p>\n

DTI Secretary Ramon Lopez said the microfinance program, dubbed as \u201cPondo sa Pagbabago at Pag-asenso,\u201d or P3 Program will be implemented in Mindoro, Sarangani, and Leyte, which are among the 30 poorest provinces in the country.<\/p>\n

\u201cThe P3 is designed to bring down the interest rate at which microfinance is made available to micro enterprises,\u201d said Lopez.<\/p>\n

\u201cFund delivery to microenterprises shall be carried out in either by wholesale lending to non-bank financial institutions like MFI-NGOs, and cooperatives which shall on-lend the fund to beneficiaries or by direct lending by SB (Small Business) Corp.,\u201d the DTI chief noted.<\/p>\n

For start-ups, the government can lend from Php 5,000 to Php 300,000 with no collateral requirement. Maximum interest rate is at 26 percent per annum.<\/p>\n

Moreover, P3 allotted Php 100 million for direct lending by SB Corp., the financial arm of DTI.<\/p>\n

\u201cTarget loan beneficiaries are the small enterprises in priority and emerging industries, start-up businesses and technology innovators,\u201d DTI said.<\/p>\n

Earlier, Lopez said the administration eyed to roll out microfinance worth Php 1 billion per region to help local MSMEs grow.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014The Department of Trade and Industry (DTI) is set to pilot-run a Php 1.0-billion microfinance program for local micro, small, …<\/p>\n","protected":false},"author":33,"featured_media":84343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[13166,5579,13165,12337,1311],"class_list":["post-84341","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-and-medium-enterprises","tag-department-of-trade-and-industry","tag-micro","tag-ramon-lopez","tag-small","mauthors-kris-m-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/84341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=84341"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/84341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/84343"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=84341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=84341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=84341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}