Women-owned and women-led micro, small, and medium enterprises (WMSMEs) can now avail of loans of up to P20 million through the Women’s Enterprise Fund launched by the Department of Trade and Industry (DTI).
The said fund will help empower WMSMEs by improving their access to capital.
The DTI, through its financing arm Small Business Corporation (SBCorp.), will provide loans from P30,000 to P20 million at 1% monthly interest rate based on a diminishing balance, with repayment terms of up to five years with an option to avail of a grace period for specific financing windows. While collateral will be required only for loan amounts exceeding P5 million.
The loan can be used for business needs, including franchising, purchase order financing, business expansion, and recovery assistance of WMSMEs.
“More than half of newly registered businesses are owned or led by women.”
“Women are a vital driving force in our economy. In fact, more than half of newly registered businesses are owned or led by women,” Trade Secretary Cristina Roque said.
“By providing accessible loans, we are empowering them further to grow their enterprises and create lasting opportunities for their families and communities.”
“By providing accessible loans, we are empowering them further to grow their enterprises and create lasting opportunities for their families and communities,” Roque added.
For his part, SBCorp. President and CEO Robert Bastillo said that to date, the agency has disbursed more than P8 billion in loans to WMSMEs.
The DTI’s new financing program was launched during the inaugural DTI Wedding Fair, which showcased the creativity and innovation of local businesses by integrating Filipino culture into wedding concepts.
Interested entrepreneurs can apply for the Women Enterprise Fund online through the www.brs.sbcorp.ph. Applicants must submit a business permit (which can be a Barangay Certification, Mayor’s Permit, or BMBE certificate), a government-issued ID, proof of a bank account, photos of the business (including signage, inventory, and assets), and relevant corporate documents if applicable.
SBCorp. is a government-owned and controlled corporation created through the Magna Carta for MSMEs (RA 6977, as amended by R.A. 8289 and R.A. 9501). It is under the policy program and administrative supervision of the MSME Development Council of the Department of Trade and Industry.
SBCorp. is the program implementer of the Bayanihan CARES (COVID-19 Assistance to Restart Enterprises) and the RISE-UP Loan Programs which made available a total of P14.4 billion in loans to 71,902 MSMEs across the nation.
