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Monday, July 28, 2003
Nearly 150T micro firms, SMEs get Sulong loans: Roxas
DEPARTMENT of Trade and Industry (DTI) Secretary Mar Roxas bared that almost 150,000 micro, small and medium enterprises nationwide have been awarded loans under the DTI’s SME Unified Lending Opportunities for National Growth (Sulong) program.
According to a statement, as of June 30, a total of P11.81 billion in loans has been awarded to 9,389 SMEs nationwide with an average loan package of P1.2 million. Some P925.53 million was awarded to 138,050 micro enterprises.
“I am very glad that entrepreneurs have taken out loans under the Sulong program as it will allow them to boost their viability and competitiveness, which in turn will translate to more economic activity and jobs for our people,” Roxas said.
Main drivers
“The DTI remains committed to support SMEs nationwide since SMEs are the main drivers of the economy, accounting for 99 percent of all businesses in the country,” Roxas added.
The Sulong program is a major component of the National SME Development Agenda, with the DTI as the lead agency.
The National SME Development Agenda aims to provide SMEs with seamless access to various services such as financing, marketing, training and product development, transfer of technology and human resources development.
Application
Applications for short and long-term loans available under the Sulong program may be coursed through the DTI-Cebu office at 3/F, LDM Bldg., Legazpi street, Cebu City, tel. 253-2631, email: dti@wis.net.ph.
Roxas also urged executives of local government units to support and implement the Barangay Micro Business Enterprise (BMBE) Law or Republic Act 9178 to spur more economic activity in their localities.
Roxas directed his appeal to local government unit executives in Cebu after receiving numerous queries and reports on the BMBE Law and its non-implementation in Cebu cities and municipalities.
“I appeal to the mayors and other LGU executives to expedite the implementation of the BMBE Law, which aims to encourage more business activity in the barangay level by offering incentives to small entrepreneurs,” Roxas said.
Incentives offered by the BMBE Law include tax exemptions, exemption from the minimum wage law, provided that workers are given adequate medical benefits.
(July 28, 2003 issue)
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