THE Department of Trade and Industry (DTI) said the Small Business Corp.’s (SBCorp.) Women’s Enterprise Fund (WEF) approved P4.22 million worth of loans for 24 women-owned businesses.
“This demand demonstrates that women entrepreneurs are poised for growth. They just need access to the right tools,” Trade Secretary Ma. Cristina A. Roque said.
“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,” she added.
The first approvals will be followed by initial loan disbursements to 10 pioneering women-led enterprises.
The ten enterprises are Appleseed Montessori, Inc., Soyuz Foods International, Inc., Tejeron Burgatory Coal Grilled Burger Station, Essiense Pharmacy, and Stimula Productions, Inc., which will receive P1 million each.
Also being funded are 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).
An initial disbursement of P8 million is also planned for SBCorp.’s RISE UP Program.
“The 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 said.
Launched on June 27, the P1-billion WEF is establishing a “fast lane” for women-led enterprises across SBCorp.’s major financing programs.
WEF, which offers loans of up to P20 million, is also integrated into SBCorp.’s franchising loan facility, purchase order financing, and business expansion financing programs.
WEF “aims to bolster the growth of women-led micro, small, and medium enterprises nationwide by providing greater access to capital,” the DTI said. — Justine Irish D. Tabile