In the progressive City of Muntinlupa, more than P2 million worth of zero-interest loans were released by the City Government to more than a hundred local entrepreneurs who collectively handle MSMEs (micro-small-medium sized enterprises), according to a Manila Bulletin news report.
To put things in perspective, posted below is the excerpt from the Manila Bulletin report. Some parts in boldface…
A total of 103 owners of micro, small, and medium enterprises (MSMEs) in Muntinlupa received P2.26 million zero-interest loans from the city government on Friday, Sept. 9.
The office of the Joint Resources Financing Program held the orientation and release of loans to batches 140 and 142 of the beneficiaries of the Tulong Negosyo at the Ayala Malls South Park.
One of them is Maria Dolores Noble, a “sari-sari” store owner and “adobong mani” manufacturer from Barangay Buli who got a P150,000 loan under the 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, the first LGU to introduce a micro-financing program.
The Joint Resources Financing Program thanked Mayor Ruffy Biazon for his continued support in helping the growth of small businesses in Muntinlupa.
Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? If you are running a micro, small or medium-sized enterprise, do you intend to avail of a zero-interest loan from the City Government?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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