The Department of Trade and Industry (DTI), through its financing arm Small Business Corporation (SBCorp), has approved P4.22 million in loans for 24 women-owned businesses under the recently launched Women’s Enterprise Fund (WEF).
This first wave of approvals came ahead of the formal awarding for the initial loan disbursement to ten pioneering women-led enterprises.
The recipients of the loan package are the following: Appleseed Montessori Inc. (P1 million), Soyuz Foods International Inc. (P1 million), Tejeron Burgatory Coal Grilled Burger Station (P1 million), Essiense Pharmacy (P1 million), Stimula Productions Inc. (P1 million), Aqua Freight Cargo Services (P850,000), Wix Manila Personal and Home Care Products Trading (P800,000), Maxi Food Hub (P750,000), Ciavinmar Enterprises (P300,000), and Jonnah JE Trucking Services (P300,000).
The initial disbursement amounting to P8 million is being released under SBCorp’s RISE UP Program, a key financing facility now part of the broader WEF initiative.
Majority of the initial borrowers are from the trade and services sector, including retail enterprises like sari-sari stores, garment sellers, and pharmacies, as well as restaurants, cafes, and beauty salons.
DTI Secretary Cristina Roque said the positive response to the WEF in its first week shows women entrepreneurs are ready to expand their businesses.
“This demand demonstrates that women entrepreneurs are poised for growth. They just need access to the right tools,” Roque said.
“The government is here to provide not just financing, but a fast and focused support system to help them thrive.”
“We encourage more women-led enterprises to take advantage of this dedicated facility. The government is here to provide not just financing, but a fast and focused support system to help them thrive,” trade chief added.
SBCorp has set aside P1 billion for the WEF to establish a special “fast lane” for WMSMEs across SBCorp’s major financing programs, guaranteeing that funds are available. SBCorp said this allocation can be increased depending on the demand.
The WEF fast lane is also integrated into other SBCorp programs, including the Franchising Loan Facility, Purchase Order Financing, and Business Expansion Financing.
The WEF launched on June 27, offers loans of up to P20 million at a 1 percent monthly interest rate on a diminishing balance and a repayment term of up to five years.
The financing program aims to bolster the growth of women-led micro, small, and medium enterprises (WMSMEs) nationwide by providing greater access to capital.
Loan beneficiary Kathryn Fanlo of Kathryn Fanlo Fashion Collection said the loan was crucial for her shop’s opening and operations.
“Okay ‘yung loan kasi compared sa bank, mas maliit ‘yung interest percentage at mas friendly ‘yung terms.”
“Very easy ‘yung loan application, and at the same time, for MSMEs like me, okay ‘yung loan kasi compared sa bank, mas maliit ‘yung interest percentage at mas friendly ‘yung terms. It helped me with the capital for opening the shop and purchasing materials,” Fanlo said.
On the other hand, Jocelyn Reyes of Joyful Garden Farm Organic Farmer’s Association Inc. expressed gratitude for the financial support.
“We are so blessed na naging part po kami ng inyong programa. Nakatulong ito sa amin para mas lalo kaming lumago. Because of that amount, nadadagdagan ang aming working capital para mapagpatuloy at mapalago pa ang aming hanapbuhay,” Reyes said.
WMSMEs interested in the program can apply online at www.brs.sbcorp.ph.
Applicants are required to submit a government-issued ID, a business permit, proof of a bank account, and photos of their business operations.
