NextGen Day

Small Business (SB) Corp, the financing arm of the Department of Trade and Industry (DTI), is preparing a credit scheme to assist micro and small companies in providing 13th-month salaries to workers.

“Similar to last year, we see no need to postpone the 13th-month pay this year as the government stands ready to assist companies in the face of the epidemic.” “We have already approached SBCorp about developing a facility that would offer zero-interest loans to businesses in need of 13th-month financing,” DTI Secretary Ramon Lopez stated in a statement on October 12, 2021.

Lopez said that SBCorp anticipates that the loan amount would vary from PHP50,000 to PHP200,000 to meet the 13th-month salary for these companies’ workers.

The funding for this new lending facility will come from the DTI’s leftover Bayanihan 2 allocation for the Covid-19 Assistance to Restart Enterprises (CARES) credit program.

A total of PHP8 billion has been allocated to continue the execution of the DTI-initiated zero-interest loan.

However, the DTI secretary thinks that business continuity is the key to helping businesses survive in the face of the epidemic.

Lopez previously advocated for the opening of companies at all alert levels and simply modifying operational capacity.

“This will be a move away from the open-close-open-close system at various lockout levels, bringing back more economic activity and employment.” “As we progress the country’s vaccine rollout and get closer to a ‘new normal,’ we will have a greater chance of fulfilling financial commitments,” he added.

He noted that this is feasible in Metro Manila, which has an 80 percent immunization rate.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---