BORONGAN CITY — The Department of Trade and Industry – Small Business Corporation (DTI-SBC) – Provincial Field Office offers 13th month pay loan facility to Micro, and Small Enterprises (MSEs) for their employees affected due to COVID-19 pandemic.
According to Ms. Ma. Joy R. Abobo, P3 provincial coordinator/small business coordinator said that Small Business Corporation is an attached agency and financing arm of DTI offering a loan program to help MSEs to provide employees with their 13th month pay.
She added the loan amount offered to MSMEs is P480,000 for them to provide P12,000 each of their 13th month pay to a maximum of 40 employees.
“Loans under the 13th month pay facility are at zero interest rate, no collateral at 4% service fee and payable in 12 months, with a three months inclusive grace period,” Abobo said.
She further said that the DTI and Negosyo Centers are ready to help the MSMEs in their application.
The facility is open to MSMEs that registered with the Department of Labor and Employment (DOLE) from March last year until October 15, 2021, for their flexible working arrangement.
The application is online. The MSEs will need to go to the linked website of www.bayanihancares.ph to apply for the 13th month loan facility. Applications for the facility which opened last November 2 will be accepted until first week of December 2021. (NBQ/SDC/PIA-E. Samar)
