SB Corp., ePLDT subsidiary Curo Teknika tie up for P3 hotline

The Small Business Corporation (SB Corp) will boost its customer service to micro entrepreneurs as it partnered with ePLDT subsidiary Curo Teknika (CuroTek) through an 8x5 Customer Service Hotline for the Pondo sa Pagbabago at Pag-asenso (P3) Program. Through the partnership, Curo Teknika will provide SB Corp. with contact center solutions for the P3 Program from 8am – 5pm, Mondays to Fridays except holidays.

The P3 Program was created to provide Filipino micro enterprises affordable and cost-efficient loans. Under the P3 Program, a micro enterprise can borrow between P5,000 up to P200,000 depending on its business need and repayment capacity with no collateral requirement.  Interest rate and service fees, all in, do not exceed 2.5% monthly.

Microenterprises who want to avail of the P3 Program can now speak to a P3 contact center agent through the P3 Hotline 651-3333.

“This partnership affirms the commitment of the government to deliver financing to microenterprises that is much cheaper than 5-6 lending. Now that the P3 program is in full swing, we are running a nationwide program and managing almost 300 conduits and more than 60,000 microborrowers, we have to have a system where our end markets can be able to inquire and get answers immediately,” SB Corp President and CEO Ma. Luna Cacanando said.

In photo are Small Business Corporation President and CEO Ma. Luna Cacanando (right) and Curo Teknika Chief Operating Officer Jeff Tinio

DTI leads Halal Export Promotion and Dev’t

THE Department of Trade and Industry (DTI), as the lead agency in developing and promoting the Philippine halal industry, is set to implement initiatives toward the development of the country’s Halal exports highlighting its potential contribution in driving trade and investments in the country.

Speaking at the recent World Halal Assembly held in Manila last 18 and 19 January, DTI Trade and Investments Promotion Group Assistant Secretary Abdulgani M. Macatoman cited figures validating the need for the Philippines to get involved in halal export, import and production.

“Muslim population worldwide has been steadily growing at a 1.84 percent per annum. In 2016 Muslim population was at 2.14 billion, growing to 2.18 billion in 2017. At present, 32.43 percent of Asia’s current population of 1.4 billion is Muslim. In Africa, there are 635 million Muslims. World Muslim population translates to a $3.2- trillion halal industry worldwide. It is expected to increase to $10 trillion by 2030,” explained Assistant Secretary Macatoman.

He added, “the sheer size of underserved markets makes it easier to penetrate the industry. There are simply more people who need Halal products and services than there are existing businesses.”

At present, the Philippines only contributes five (5) percent of the global halal trade. With the new Philippine halal law in place, Assistant Secretary Macatoman explained that Filipino entrepreneurs are in the best position to take advantage of the rising halal industry worldwide. According to him, Filipino Muslims naturally understand what the global market wants and needs, being part of the market themselves.

“Filipino entrepreneurs like the ones based in Zamboanga are in a unique position to take advantage of this trend, particularly the efforts of the Zamboanga Ecozone and Freeport and Regional Economic Zone Authority of the Autonomous Region of Muslim Mindanao. Preparation of halal food and fashion pieces requires a great understanding and obedience to Muslim culture, and we Filipinos have a great grasp of this culture and unique practices,” said Assistant Secretary Macatoman.

Assistant Secretary Macatoman also emphasized the importance of having harmonious halal certification and accreditation policies and standards for the Philippines to improve its integrity and credibility both at the national and the international communities.

The DTI’s Philippine Accreditation Bureau (PAB)—as the sole agency mandated by the Philippine halal law to handle the accreditation of halal-certification bodies, inspection bodies and testing and calibration laboratories—is currently developing the national halal-certification scheme that will embody the official guidelines for the accreditation of all Philippine halal-certification bodies that wish to be accredited by the PAB.

Organized by the Department of Science and Technology (DOST)-Region 11, the World Halal Assembly was in line with the DOST’s mandate under Republic Act 10817, known as the Philippine Halal Export Development and Promotion Program Act of 2016, which took effect after its implementing rules and regulations  were approved on July 26, 2017.

Islamic scholars, Muslim academicians and scientists, international certification bodies, government officials, entrepreneurs and Muslim and non-Muslim consumers were in attendance during the conference.

*This is Press Release

Bangon Marawi: Marawi Entrepreneurs Receive Loan Assistance from SB Corp.

At least 24 Maranao entrepreneurs received assistance from the Small Business Corporation (SB Corp) in form of the Pondo sa Pagbabagao at Pag-asenso (P3) loans to help bring back the business environment in the war-torn city.

SB Corp, the micro-financing arm of the Department of Trade and Industry (DTI) released a total of P245,000 to 24 borrowers who were also recipient of DTI’s business starter kits. Another P10,000 P3 loan package was also released to 13 micro enterprises last week.

“DTI is bringing the government's P3 microfinancing program closer to the entrepreneurs of Marawi by helping them start and rebuild their businesses. We are committed in reviving the vibrant business environment in the city, especially for the Maranaos who are well-known as traders,” said DTI Secretary Ramon Lopez.

As part of Task Force Bangon Marawi (TFBM), DTI, together with other government agencies comprising the subcommittee on business and livelihood (SC-BL), has assisted affected Marawi residents to bring back the illustrious business city.

DTI Undersecretary for Regional Operations Group Undersecretary Zenaida Maglaya assured that the agency has been on the ground to provide assistance to affected Marawi internally displaced persons (IDPs) to hasten the recovery and rehabilitation of the city.

“Together with member agencies of the Task Force Bangon Marawi Subcommittee on Business and Livelihood, we would make sure that Marawi City will quickly return to normalcy upon the orders of the President. We’re bringing back business for our brothers and sisters who were greatly affected by the war,” Maglaya said.

SB Corp has earmarked at least 1,000 Marawi entrepreneur beneficiaries that will receive loan packages in the first quarter of 2018.

Maglaya added that more entrepreneurs will be assisted by the agency through loan packages without interest.

The initial 37 borrowers were recipient of the DTI business starter kit from DTI Lanao del Norte and DTI Iligan City provincial offices. Succeeding loans will be done in cooperation with   the local government and the administrator of the Marawi public market who shall identify qualified market stall owners as perspective borrowers.

Other micro enterprises who are neither  DTI starter kit recipients or  Marawi public market stall owners, may apply for P3 loans from SB Corp accredited  conduits such as Radiowealth Finance Company Inc. (RFC) and CARD, Inc. who are presently operating in the area.

The provision of starter kits is in line with the order of President Rodrigo Duterte to provide livelihood to IDPs from Marawi City and other affected localities. This also follows the Administrative Order No. 03 of the President, mandating the creation of an inter-agency task force that would implement the recovery, reconstruction, and rehabilitation of Marawi City and other affected localities of which providing business and livelihood is crucial.

Member agencies of the Subcommittee on Business and Livelihood are Department of Agriculture (DA), Department of Agrarian Reform (DAR), Department of Environment and Natural Resources (DENR), Department of Labor and Employment (DOLE), Department of Social Welfare and Development (DSWD), Department of Science and Technology (DOST), Mindanao Development Authority (MinDA), Office of the Presidential Adviser on the Peace Process (OPAPP), and Technical Education and Skills Development Authority (TESDA).

The P3 program for Marawi will also provide credit risk support to microfinancing institutions (MFIs) including rural banks who want to start lending in the Lanao del Sur area in exchange for their timely and quick response. Loan qualification criteria will be relaxed to support gradual normalization of MFI operations  in Lanao del Sur and nearby provinces where the displaced microenterprises were  temporarily relocated.