COVID-19 Crisis: Muntinlupa City Government grants zero-interest loan to 112 “Muntipreneurs” to help them recover amid pandemic

In a bid to assist local businesses and revive the stalled local economy brought about by the COVID-19 pandemic, the City Government of Muntinlupa has provided zero-interest loan to MSMEs and micro-entrepreneurs dubbed as “Muntipreneurs.”

Specifically the City Government assisted at least 112 micro-entrepreneurs through its Tulong Negosyo Program (formerly Dagdag Puhunan) and has distributed P2,762,000 cash assistance from March to September 2020. Muntinlupa City is the first LGU to introduce the micro-financing program.

Tulong Negosyo caters to MSMEs and provides micro finance assistance which ranges from P2,000 up to P150,000 depending on the business capital ceiling and payment record of beneficiaries. The program aims to provide additional capital for business expansion for aspiring and established business owners in Muntinlupa.

On September 23, Mayor Jaime Fresnedi led a turn-over ceremony of loan assistance amounting to P990,000.00 to 28 Tulong Negosyo Batch 116 beneficiaries in Muntinlupa City Hall. Among the beneficiaries, three local entrepreneurs received P100,000 each while one member received P150,000.

Fresnedi vows to continue the program and assist Muntipreneurs especially in the time of the COVID-19 pandemic. The mayor hopes to revive the local economy by support grassroot players through various programs.

Recently, the loan repayment period was extended by three months for clients with existing loans from March to June 2020 in a bid to help them recover from losses due to the pandemic.

Tulong Negosyo program has three categories namely: Simulang Kapital (SIKAP) Pangkabuhayan with loan application amounting to P2,000 – P5,000, Asenso Loan Program amounting to P6,000 – P75,000, and Maunlad Loan Program amounting to P75,000 – P150,000.

Further, a Savings Program has been incorporated in the loan assistance to teach clients about the importance of economizing and serve as protection to the clients and the program. Entrepreneurial education through trainings and other related interventions are also conducted.

Due to the ongoing health crisis, the Tulong Negosyo has implemented Online Application services and cashless repayment system through Smart Padala and G-Cash.

To apply, visit Joint Resources Financing Program – JRF Facebook Page or click the following links: New Applications – bit.ly/TulongNegosyoNew, and Renewal – bit.ly/TulongNegosyoRenewal. The Muntinlupa Joint Resources Financing Program is located at 2F Plaza Central, Brgy. Poblacion with contact numbers 8772-3457and (0921) 888 6124.

Muntinlupa City is hailed the country’s Most Business-Friendly LGU in 2017-2018 by the Philippine Chamber of Commerce and Industry.

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Latest City Government of Muntinlupa details sourced from their official media release. Some parts were edited for this website.

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