SBCorp. allocates P2B in loans for female-run firms

THE Department of Trade and Industry (DTI) said the Small Business Corp. (SBCorp.), has allocated P2 billion this year for a loan program targeting women-led enterprises.

“We continue to support women entrepreneurs seeking local and global expansion, while also opening opportunities for those ready to expand, create jobs, and strengthen local economies,” Trade Secretary Cristina A. Roque said.

“We understand that capital is a challenge to many, and the DTI through SBCorp. has tailored programs to meet the needs of our MSMEs, like this Women’s Enterprise Fund (WEF),” she added.

Such funding ensures continued support for female entrepreneurs that are ready to grow, hire, and increase their economic impact and profit.

“The fund aims to provide capital to start and expand their business, recognizing their contribution to economic growth,” the DTI said.

Under the WEF, women-owned and -led micro, small and medium enterprises can access loans between P30,000 and P20 million, with terms of up to five years.

Loans will have a one-year grace period, while collateral requirements are waived for loans of up to P5 million. — Justine Irish D. Tabile