Entrepreneurship – Author Carlo Carrasco

World Bank raises forecast on Philippine economy growth for 2023

June 12, 2023June 8, 2023carlocarrasco

With the year 2023 nearing the half-way point, the World Bank revised its forecast on the Philippine economy seeing a 6% growth (versus the previous 5.4% growth forecast), according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news article. Some parts in boldface…

THE PHILIPPINE ECONOMY is likely to grow by 6% this year amid strong domestic demand and despite elevated inflation, the World Bank said, raising its forecast from 5.4% in January.

A recovery in jobs, improved consumer sentiment and strong remittances from Filipinos overseas would drive local consumption, the multilateral lender said in its Global Economic Prospects report on Wednesday.

“Despite external challenges, high domestic inflation and tight monetary conditions, domestic demand has once again remained resilient, fueling growth,” World Bank Country Director for the Philippines Ndiame Diop separately told a virtual news briefing.

The latest growth forecast is the lower end of the government’s 6-7% growth target this year. The Philippine economy grew by 6.4% in the first quarter, slower than 8% a year ago and 7.1% a quarter earlier.

“Despite weak global conditions, our upward revision reflects this continued strength in domestic demand,” World Bank Philippines Senior Economist Ralph van Doorn said.

But the potential global slowdown could still affect growth. “Although the global economy displayed remarkable resilience in early 2023, economic conditions will remain subdued for the rest of 2023,” Mr. Diop said.

He said global growth is expected to wane due to “persistent inflation, slowdown of global trade and the effect of recent monetary tightening.”

The World Bank expects global growth to slow to 2.1% this year, though this is higher than its earlier 1.7% projection. It also sees global growth reaching 2.4% next year and 3% in 2025.

“Risks remain tilted to the downside,” Mr. Diop said. “Recent episodes of market instability have raised concerns of a potential spillover. The possibility of further monetary tightening amid sticky core inflation could raise the cost of global financing and lead to a more pronounced and prolonged global slowdown.”

Persistent inflation remained a cause for concern, the World Bank said.

“Although our baseline forecast (shows) inflation will decelerate, it is still the main challenge,” Mr. van Doorn said.

The World Bank expects Philippine inflation to average 5.7% this year, higher than its earlier 4.2% forecast.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you agree with the World Bank’s analysis about economic growth for the Philippines this year? Do you think the Philippine economy can do better than expected by the end of 2023?

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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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Muntinlupa City Government releases over P2.5 million zero-interest loans to local entrepreneurs

April 25, 2023April 25, 2023carlocarrasco

Recently in the progressive city of Muntinlupa, the City Government released zero-interest loans to over one hundred and twenty local entrepreneurs amounting to more than P2.5 million, according to a news report by the Manila Bulletin. This is the latest move by the City Government boost the local economy.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

The Muntinlupa City government released P2.58 million worth of loans with zero interest to local entrepreneurs.

A total of 125 entrepreneurs were the beneficiaries of the city government loans released through the Muntinlupa Entrepreneurship Financing Division (MEFD).

“One of the priorities of the local government is focusing on our home-grown entrepreneurs. This is part of our efforts to boost the local economy,” said Mayor Ruffy Biazon.

The beneficiaries, who are composed of micro, small, and medium-sized enterprises, comprised the 148th batch of the long-running program.

Biazon encouraged the beneficiaries to make the most of this opportunity to improve their business and their way of life.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Do you hope to see the City Government release even more zero-interest loans to local entrepreneurs? If you are running a small business in the city, have you availed of the loans 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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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Muntinlupa City releases P2.26 million zero-interest loans to local entrepreneurs

September 13, 2022September 10, 2022carlocarrasco

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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COVID-19 Crisis: More support for businesses by means of easing restrictions

October 14, 2021October 12, 2021carlocarrasco

Are you a business owner who has been struggling to make ends meet during the pandemic here in the Philippines? On the national level, more support for businesses by means of easing the restrictions has been pushed for by Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III according to a recent news report by GMA Network.

To put things in perspective, posted below is the excerpt from the GMA Network news report. Some parts in boldface…

Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III on Tuesday called for the need to open up more of the economy in the final quarter of the year, for businesses to recover and be able to pay their dues.

According to Concepcion, the fourth quarter is crucial for businesses given the historically higher consumer spending amid the Christmas holidays.

“We have to open the economy because this is the last quarter. This is time when most negosyantes can get back what they lost in the previous months. Babayaran nila mga 13th month pay, may utang nila sa bangko, sa suppliers [They will have to pay the 13th month pay, their loans in the banks, with suppliers],” he said during the Laging Handa virtual briefing.

Concepcion has been pushing for the imposition of “bakuna bubbles” or pockets of micro-herd immunity among closed groups such as homes and workplaces.

Under the proposed measure, vaccinations will be mandated for a range of indoor gatherings in a bit to boost the country’s immunization efforts and only allow privileges to those fully vaccinated.

At present conditions with only 30% indoor dining allowed for fully vaccinated individuals in Metro Manila, Concepcion said businesses do not gain much, noting that this should be increased to at least 50% to carry businesses over to 2022, or even 70% by November or December.

“Ito ang panahon that we should start to live with COVID. Kung pabagsak ang [If there is a downtrend on the] trajectory ng infection level, then we should open up more and more and then keep an eye, watch out if it reverses then we pull back and we can push back,” said Concepcion.

“For now, it’s only one quarter left ’til the end of the year. Bigay na natin ‘to sa mga negosyaante para mabuhay sila ’til next year. [Let’s give this to the businesses for the thrive until next year],” he added.

In relation to the news above, the Department of Trade and Industry (DTI) called for businesses to be open on all alert levels. The Cinema Exhibitors Association of the Philippines (CEAP) appealed to the Inter-agency Task Force (IATF) for the Management of Emerging Infectious Diseases to allow the limited operations of cinemas under the Alert Level 4.

Let me end this piece by asking you readers: What do you think about Joey Concepcion’s statements on supporting businesses a lot? Do you feel confident about the further reopening of the national economy? Do you think that the Metro Manila Council (MMC) and the Metropolitan Manila Development Authority (MMDA) will understand Concepcion’s pro-business push and make wise decisions this time around?

Can you imagine the MMC and MMDA recommending another enhanced community quarantine (ECQ) to the IATF in the near future that will surely destroy jobs and hurt businesses all over again?

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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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

Business tycoon Ramon S. Ang calls Olympic gold medalist Hidilyn Diaz the trailblazer of the Philippines

August 27, 2021August 25, 2021carlocarrasco

As Olympic gold medalist Hidilyn Diaz received the promised P10 million reward from business tycoon Ramon S. Ang, she was referred to as the nation’s trailblazer in relation to the pioneering achievement she made for the Philippines during the delayed 2020 Tokyo Olympic Games.

*Business tycoon Ramon S. Ang with Olympic gold medalist Hidilyn Diaz. (photo from Ramon S. Ang Facebook page)*

To put things in perspective, posted below is an excerpt from the Philippine News Agency (PNA) article. Some parts in boldface…

San Miguel Corp. president Ramon Ang sees Hidilyn Diaz as a game-changer after she ended the Philippines’ 97-year hunt for its first Olympic gold in Tokyo.

“Hidilyn is the country’s trailblazer in our successful Olympic gold medal quest. After years of heartbreaks, she came through for us and we are very thankful as a nation,” Ang said on Tuesday.

Diaz, together with fiancé and coach Julius Naranja, personally received the PHP10 million reward Ang pledged for anyone who would capture the then elusive gold.

Diaz won the women’s 55-kg. weightlifting event at the Tokyo Olympics on July 26, making the Philippines a part of the Olympic gold medal countries’ list.

It also served as the biggest good news the Filipinos have ever received amid the coronavirus disease 2019 pandemic.

“Her victory comes at a very crucial point in our country’s history when we are grappling with a pandemic and a lot of Filipinos are looking for hope as we fight this virus and cope with the difficulties it has brought,” Ang said.

Upon meeting at the SMC office in Pasig City, however, he gave Diaz a surprise gift.

Ang rewarded Diaz with two Magnolia Chick ‘N Juicy franchises that she could put up at her new condominium in Quezon City and at her hometown in Zamboanga City.

“With the franchise outlets, we will assist Hidilyn every step of the way in her journey as an entrepreneur so that she can also help other people in need of jobs. In addition to the physical stores, equipment, and training, we will also provide the initial stocks for free to get her started,” he added.

The generosity of Ramon S. Ang is truly amazing and genuine. Not only was the promised cash reward released to Hidilyn Diaz, he gifted her with commercial franchises which can add to our nation’s economy by creating opportunities for the unemployed to bounce back from poverty while providing choices to consumers looking for good products. I really like this because I truly believe that capitalism the way to prosperity and the most effective way to lift people up from poverty. Capitalism does socio-economic wonders while socialism only drags people down and ruins societies. As it is a fact that cash rewards/incentives from both the government and private sector cannot last forever as the cost of living only keeps going up, having a business that succeeds will keep prevent people from falling into poverty. To see Hidilyn Diaz gifted with business franchises is great!

For those who are not aware, Chick ‘N Juicy is a chicken rotisseries retail business that has many branches and it is being expanded. Chick ‘N Juicy sells chicken supplied by sister company Magnolia. Customers can order from them online with products like sweet roast chicken, garlic roast chicken, fried chicken drumsticks, chicken rice meals and more at https://www.chicknjuicyofficial.com/

Let me end this piece by asking you readers: Are you happy about our nation’s Olympic gold medalist getting rewarded and gifted by tycoon Ramon S. Ang?

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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COVID-19 Crisis: Foreign direct investments spiked in April 2021 in connection to CREATE Law, economic reopening and other factors

July 15, 2021July 13, 2021carlocarrasco

It’s been months since the last time I wrote about the Corporate Recovery and Tax Incentives for Enterprises act otherwise referred to as the CREATE Law. For the newcomers reading this, the CREATE Law was designed to cut down corporate income tax which should lead to the creation of new jobs and the attraction of investment in mind. The said law is really crucial in this COVID-19 crisis we are all still living with.

Recently, the Philippine News Agency (PNA) published an article stating that a huge rise of foreign direct investments (FDIs) in the country was realized this past April and the CREATE Law was one of the factors behind it.

To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…

An economist has attributed the rise of foreign direct investments (FDIs) in the country in April 2021 to the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the opening of the economy.

The Bangko Sentral ng Pilipinas (BSP) on Monday reported the 114.4-percent year-on-year jump of net FDI inflows to USD679 million last April from USD317 million in the same period last year.

In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said lower interest rates and lower cost of some inputs like real estate property and leases are plus factors that enticed higher FDIs.

“Some foreign investors may have started to come in view of the progress made on the CREATE law, which was finally signed on March 26, 2021 and reduces corporate income tax rates to 25 percent for large corporations (from 30 percent) retroactive July 1, 2020, thereby narrowing the gap with the tax rates in other Asean/Asian countries, and also provides greater certainty on investment incentives, thereby helping attract more FDIs and making some foreign investors on the sidelines in recent months/years to become more decisive and finally bring in more FDIs into the country,” he said.

Ricafort said positive credit rating actions on the Philippines, which even got its first-ever A-level credit rating, A-, from the Japan Credit Rating Agency (JCR) in June 2020, also boosted investors’ sentiment on the domestic economy.

The positive credit rating actions, he said, “reflect improved international investor confidence in the country, manifesting the country’s improved economic fundamentals, as well as the country’s attractive demographics.”

These factors are, however, expected to be countered by the still high number of coronavirus disease 2019 (Covid-19) cases, aggravated by new variants that are reported to be more contagious.

Ricafort believes that higher government spending, especially on infrastructure, and the accommodative monetary policy by the Bangko Sentral ng Pilipinas (BSP) are seen to further support the rise in net FDIs.

The above article is indeed filled with good news that our nation badly needs, especially since there are still many millions more people around the country who have yet to get vaccinated and the fact that lots of businesses are still struggling. In recent times, patients under the A4 category have been gradually vaccinated for COVID-19 and that is a very good thing because it under that very category where the nation’s laborers are listed. There are still lots of unemployed workers out there who badly need vaccines and jobs, and it does not help that certain local government units (LGUs) had to temporarily suspend their local vaccination operations due to a lack of supply of vaccines. There are supposed to be around 13 million doses of vaccines to come into the Philippines this month, and so far some of that have arrived (click here, here and here).

More on economics, apart from the rise of FDIs last April, it was reported that the local demand for office space nationwide grew by 38% rising from 122,000 square meters (sqm) in the first quarter of 2021 to 169,00 sqm. in the second quarter. It was described to be the strongest office demand since the start of the pandemic.

Let me end this piece by asking you readers: Does the recent news about the sharp rise of FDIs in our country make you confident about your economic prospects? How much do you know about the CREATE Law and what further positive effects it can generate for the country? If you have been unemployed, how long have you been out of work?

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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500 LGUs reminded to automate biz one-stop shop this year

April 14, 2021April 13, 2021carlocarrasco

Are you a business owner who recently struggled with the processes at your local government unit (LGU) because their electronic Business One-Stop Shop (e-BOSS) did not function properly and proved to be inefficient? Perhaps they did not have an e-BOSS?

Here are some good news – a Joint Memorandum Circular (JMC) was approved yesterday designed to ensure that the e-BOSS systems of LGUs get automated this year.

To put things in perspective, e-BOSS uses the Electronic Business Permitting and Licensing System or eBPLS developed by the Department of Information and Communications Technology allowing the public to perform government transactions online. e-BOSS targets to fully automate transactions in LGUs from downloading of forms, using e-signature, up to online payment.

By comparison, the old system BOSS is defined as a single-window system that streamlines application forms and submission of documents in government offices in one window only.

Going back to the news related to the JCM, below is an excerpt from the news release published through Philippine News Agency (PNA). Some parts are in bold to highlight importance of details.

Anti-Red Tape Authority (ARTA) director general Jeremiah Belgica targets to have at least 500 local government units (LGUs) rolling out the electronic Business One-Stop Shop (e-BOSS) by end-2021.

During the virtual signing ceremony of the Joint Memorandum Circular (JMC) 01-2021 Tuesday, ARTA reminded LGUs that they should have automated their BOSS before June 17 this year.

The JMC establishes the guidelines for processing business permits, related clearances, and licenses in all cities and municipalities.

“Hopefully by the end of the year, we will have 500 LGUs already automated by DICT’s (Department of Information and Communications Technology) IBPLS (Integrated Business Permits and Licensing System) software,” Belgica said.

DICT project manager for IBPLS Del Basada said the department has signed memoranda of agreement with 446 LGUs, of which more than 200 LGUs are already in the operational stage of the system.

“(We are) just making sure that everyone’s (is) onboard for IBPLS which is an online system. We look at their readiness first if they can adopt the system,” Basada said, adding the DICT is assisting LGUs in addressing challenges to do online transactions.

Meanwhile, Belgica said while the IBPLS software works well even with smaller LGUs, he urged highly urbanized cities to fast-track adopting the integrated system so they can go online for their BOSS before the June 17 deadline.

“We are encouraging the highly urbanized cities to actually automate the soonest because they have the most number of businesses,” he added.

Under the newly signed JMC, the e-BOSS should have the following functions: accepting electronic submission of application; electronic issuance of tax bill or order of payment; accepting online payment, releasing of electronic version of permits, licenses, and clearances; and providing gateway facility linked to courier service where applicant prefers hard copy of the documents.

The JMC also limits the documentary requirements and will implement a unified application form with a unique identification number.

ARTA reminds LGUs that they should not require notarization of the requirements.

It added barangay clearances related to business permit applications shall be integrated and processed by the Business Processing and Licensing Office. Number of signatories in the documents shall be limited to three.

So there you have it! An official document made it final that local government units should have the e-BOSS automated and functioning with the expected efficiency, transparency and results fulfilled. Given the fact that we are all still living under the pandemic of the China Virus (COVID-19), this latest development is indeed crucial and improvements on the part of LGUs should happen this year.

If you are a business owner who struggled with the processes at your local government and you wish to speak out, please post in the comments below. You can also send to me a private message.

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Youth entrepreneurs in Muntinlupa receive stimulus assistance, earn recognition from City Council

March 10, 2021March 9, 2021carlocarrasco

Yesterday the City Government of Muntinlupa awarded stimulus assistance to displaced youth workers in the city who have started their own businesses in a bid to recover from unemployment and other challenges brought about by the COVID-19 pandemic.

Mayor Jaime Fresnedi led the turn-over of financial assistance to 34 youth entrepreneurs under the first of batch of NegosYouth: Stimulus Recovery Assistance Program of the Youth Affairs and Sports Development Office.

Fresnedi says the resilience of the city’s youth entrepreneurs to innovate amid challenging times is worthy of emulation. The local exec hopes that their stories will also inspire other young people in the city to also start their own businesses.

Under the stimulus program, the City Government provides P5,000 in financial assistance to out-of-work youth, students, and out-of-school youth who have started their own businesses during the community quarantine. The beneficiaries will also receive entrepreneurship trainings on financial literacy, leadership, and among others.

Following an assessment, the beneficiaries will be endorsed to the Joint Resource Financing Program to receive zero-interest loan assistance of up to P150,000 for the expansion of their businesses.

The first batch of the stimulus assistance for the youth is composed of members of Muntinlupa Locals, a street wear movement which empowers and bolster the spirit of entrepreneurship among the youth of the city.

Muntinlupa Mayor Jaime Fresnedi (2nd from left) and Youth Affairs and Sports Development Officer Cynthia Viacrusis lead the turn-over ceremony of financial assistance to 34 displaced youth workers turned entrepreneurs under the first of batch of NegosYouth: Stimulus Recovery Assistance Program last March 8. 34 youth entrepreneurs from Muntinlupa Locals, a Muntinlupa-based street wear movement, were the first recipients of the stimulus assistance. Recently, the Muntinlupa City Council passed Resolution No. 2020-406 recognizing the achievement of Muntinlupa Locals in honing the business skills of the local youth and stirring employment among the residents of Muntinlupa. (source – Muntinlupa PIO)

Muntinlupa Locals was founded in June 2020 by Patrick H. Aquino, a resident of Barangay Alabang and proprietor of Ayong Graphics. The youth group supports at least 70 Muntinlupa-based brands and envisions the Muntinlupa youth to be self-reliant by encouraging and bolstering their entrepreneurial skills through patronage and sale of Muntinlupa made, designed and manufactured clothing line.

Recently, the Muntinlupa City Council passed Resolution No. 2020-406 recognizing the achievement of Muntinlupa Locals in honing the business skills of the local youth and stirring employment among the residents of Muntinlupa.

For interested individuals, coordinate with Muntinlupa City Youth Affairs and Sports Development Office located at Muntinlupa Sports Center, Brgy. Tunasan with tel. no. 8862-8428.

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The above information was provided by the City Government of Muntinlupa for the purpose of public information and transparency. Some parts were edited for this website.

Muntinlupa City at Work – January 28, 2021

January 28, 2021January 27, 2021carlocarrasco

The City Government of Muntinlupa continues to serve its constituents by executing varied forms of public service. To catch up with what they’ve been doing lately, here is a quick look at the recent developments in the city.

Yesterday, Muntinlupa City Mayor Jaime Fresnedi turned over the City Government’s loan assistance amounting to P938,000.00 to Tulong Negosyo Batch 122 beneficiaries at City Hall. Among the beneficiaries were two local entrepreneurs who received P100,000 each while one member received P75,000. The mayor hopes to revive the local economy by supporting grassroot players through various programs.

*A total of P938,000 worth of loans was released by the City Government of Muntinlupa under the leadership of Mayor Jaime Fresnedi. (source – Muntinlupa PIO)*

*Mayor Fresnedi checks on a local entrepreneur. (source – Muntinlupa PIO)*

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The above information was provided by the City Government of Muntinlupa for the purpose of public information and transparency. Some parts were edited for this website.

Muntinlupa City at Work (December 8, 2020)

December 8, 2020December 7, 2020carlocarrasco

**26 GRAB RIDERS RECEIVE STIMULUS PACKAGE FROM MUNTI LGU:** The City Government of Muntinlupa rolled out the distribution of stimulus packages for Batch 3 and 4 ‘Deliver to Recover’ program beneficiaries. Congressman Ruffy Biazon (center) and Mayor Jaime Fresnedi (right) led the turn-over ceremony of stimulus packages to 26 beneficiaries last December 7 at Muntinlupa City Hall. The local government is assisting displaced workers and public transportation drivers in the city that were affected by the COVID-19 pandemic with their Grab application. A stimulus package amounting to P7,500 which include Grab uniforms, food insulated box, P2,500 worth of e-wallet credit, and P2,500 cash assistance as initial cash revolving fund are also given to qualified applicants. The City Government entered a partnership with Grab Philippines for the registration of 500 city residents. The application process is still ongoing through PESO Muntinlupa Facebook Page or via http://bit.ly/MuntiGrab. (source – Muntinlupa PIO)

**ZERO-INTEREST LOAN FOR MICRO ENTREPS IN MUNTINLUPA:** Mayor Jaime Fresnedi (center) turns over P1.4 million zero-interest loan assistance to Tulong Negosyo Batch 118 representatives, dubbed as “Muntipreneurs,” last December 2 in a bid to help local businesses recover from the economic disruption brought about by the COVID-19 pandemic. 57 micro entrepreneurs were provided with the loan assistance this month. 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. Muntinlupa City is the first LGU to introduce the micro-financing program. Fresnedi vows to continue the program and assist Muntipreneurs especially in the time of the COVID-19 pandemic. (source – Muntinlupa PIO)

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

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to distorted views, NO to reckless publishers, and NO to sinister propaganda when it comes to news and developments. For South Metro Manila-related community developments, engagements, commerce and other relevant updates, visit and join the growing South Metro Manila FB group at https://www.facebook.com/groups/342183059992673

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