COVID-19 Crisis: Muntinlupa City Government grants zero-interest loan to 200 “Muntipreneurs” to help them recover amid pandemic

The City Government of Muntinlupa continues to provide zero-interest loan assistance to micro-entrepreneurs and MSMEs dubbed as “Muntipreneurs” in a bid to revive the stalled local economy due to the COVID-19 pandemic.

Mayor Jaime Fresnedi led a ceremonial turn-over ceremony of the loan assistance amounting to P4,374,000.00 for 200 beneficiaries of Tulong Negosyo’s Batch 132, 133,134, & 135 in Muntinlupa City Hall last January 27.

Muntinlupa Mayor Jaime Fresnedi leads a ceremonial turn-over ceremony of zero-interest loan assistance amounting to P4,374,000.00 for 200 “Muntipreneurs” (Muntinlupa entrepreneurs) last January 27. The local government of Muntinlupa continues to provide zero-interest loan assistance to micro-entrepreneurs and MSMEs in a bid to revive the stalled local economy due to the COVID-19 pandemic. Muntinlupa is the first LGU to introduce the micro-financing program. (source – Muntinlupa PIO)

Of the total, four local entrepreneurs received P150,000 each, seven (7) received P100,000, and five (5) beneficiaries received P75,000. The local exec vows to continue the local financing program and hopes to revive the local economy by supporting grassroot players through various programs.

The City Government of Muntinlupa assists local micro-entrepreneurs through the Joint Resource Financing Program’s (JRFP) Tulong Negosyo (formerly Dagdag Puhunan). Muntinlupa is the first LGU to introduce the micro-financing program.

Tulong Negosyo caters to MSMEs and provides micro-finance assistance ranging 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.

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.

Recently, JRFP has launched a Restructuring Program extending payment schedules for beneficiaries in a bid to help them recover from losses due to the pandemic.

Due to the limitations in face-to-face transactions, the Tulong Negosyo has also 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 number 8772-3457.

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The above information was sourced from an official press release. Some parts were changed for this website.

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