Financing – WWW.EDC.NET.PH

19th April 2024

PH as notable leader – driving global growth in foreseeable future

The Department of Finance (DOF) Secretary Ralph Recto reported that the Philippines is the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN) leading it to the top (5.6%) based on the actual Gross Domestic Product (GDP) Growth Performance of ASEAN in 2023. Sec. Recto presented that the global growth will be led by Asia’s powerhouses for the next decades, notably by the Philippines. Contributing to this is the massive growth of the transportation and storage, construction, and financial services.

6th December 20218th August 2022

SBCorp continues financial assistance to affected businesses amid the ongoing pandemic

The Small Business Corporation (SBCorp), the lending arm of the Department of Trade and Industry (DTI), continues to provide financial assistance to affected micro, small, and medium enterprises (MSMEs), cooperatives, hospitals, tourism business, and repatriated or displaced Overseas Filipino Workers (OFWs) by the COVID-19 pandemic under the Bayanihan CARES (COVID-19 Assistance to Restart Enterprises).

6th September 20216th September 2021

DTI partners with Unionbank in fostering financial resilience for MSMEs

The Department of Trade and Industry (DTI) partners with the Union Bank of the Philippines (UnionBank) in fostering financial resilience for MSMEs. UnionBank presented during a webinar their initiatives on assisting the micro, small, and medium enterprises (MSMEs) amidst the digital shift, focusing on their products, namely the MSME Business Banking App, UPay, and SeekCap, all geared towards financial resilience.

7th July 20218th August 2022

Landbank’s YESAP to aid emerging youth MSME agri-entrepreneurs

The Land Bank of the Philippines is the country’s premier government financial institution which provides services that help promote countryside development while remaining financially viable. One of its major services is to provide credit assistance to small farmers and fisherfolk.

The Yes! to Agriculture Program (YESAP) is a product offered by Landbank to youth (18-35 years old) MSME agri-entrepreneurs to help them to engage in viable and sustainable agribusiness projects such as agricultural and fishery production and trading, processing, servicing, and distribution of agricultural crops and commodities.

14th June 2021

BDO Kabuhayan loan to aid MSMEs amidst the pandemic

The Micro, Small, and Medium Enterprises (MSMEs) continue to thrive amidst the problematic economic landscape brought about by the ongoing Covid-19 Pandemic.

BDO Network Bank, the rural banking subsidiary of BDO Unibank, Inc., is offering financing opportunities for MSMEs that aim to expand, and at the same time, offer them easy loan payments.

21st September 20204th February 2021

It pays to know right – MSME financing directory now available

The EDC Networking Committee on Financing came up with a Financing Directory aimed to assist the micro, small and medium enterprises (MSMEs) have the option to choose the right financing program suited for their needs. The said directory is a compilation of different loan programs describing their eligibility criteria, requirements and other loan mechanics and processes from commercial banks, government financing institutions, other financing alternatives, venture capital (for start-up businesses), etc. Please note that the directory is based on currently available information and maybe subject to change by the concerned financing institutions/entities.

The said directory can be downloaded from the EDC website: www.edc.net.ph/ncf-updates. GTM

21st September 20204th February 2021

SBCorp to fund the medium enterprises in the country

Access to finance has been a perennial problem of the country’s MSMEs. Many financing programs were developed by government financing institutions to assist them in growing their businesses, ship their products, develop new products, attend trade shows, etc. The latest of these many programs is SB Corporations’ (SBCorp) COVID-19 Assistance to Restart Enterprises (CAREs) program to micro and small enterprises for them to recover from losses that their businesses incurred during the pandemic. All loans from the CAREs program are interest-free and payment starts after six (6) months upon release of the loan and is payable within 18 to 30 months.

11th February 201913th July 2020

COMELEC regulates movement of chemicals during gun ban

The Commission on Elections (COMELEC) now regulates the transport and delivery of chemicals following the implementation of the gun ban covering the period 13 January to 12 June 2019. Under COMELEC Resolution No. 10446 that provides the guidelines during the gun ban, chemicals are classified as explosives.

During the said period, bearing, carrying and transporting firearms, explosives or other deadly weapons is prohibited.

However, entities engaged in the transport, manufacture, import, export, purchase, deal in or sell of Firearms, Ammunitions, Explosives or their components who wants to be exempted of this prohibition are required to secure Certificate of Authority to Transport (CA-TT) chemicals from COMELEC.

Concerned entities may apply for the CA-TT by submitting the following:

Accomplished application forms (CBFSP Form No. 2019-04 ATT (3 copies) & Form 19A04);
Duly notarized Board Resolution;
Certificate of Employment and Authorization of the applicant authorized by the Board;
Original Permit to Transport issued by the Philippine National Police (PNP) with stamp “Not valid without COMELEC exemption;
Endorsement Letter from the Firearms and Explosives Office of PNP; and
Copy of official receipt of filing/processing fee to the COMELEC office.

Applicants are also advised to present and submit a Compact Disk (CD) containing the scanned copies of all documentary requirements and copies of the valid identification cards of the principal and authorized representative.

The COMELEC also encourages applicants to apply for accreditation “by proving their qualification of large-scale frequent operation and/or status as major industry stakeholder” through one-time submission of documentary requirements. Once accredited, applicants will no longer need to re-submit basic documents, thus, shorter turnaround time.

For more information and clarification, the COMELEC’s Committee on the Ban of Firearms and Security Personnel, responsible for the issuance of CA-TT, can be reached through telephone number (02) 400-0323.

18th October 201723rd May 2019

Factoring and Crowdsourcing your way to Financing

To address the need of the export sector for innovative financing options, factoring and crowdsourcing platforms were introduced in a seminar conducted by the Department of Trade and Industry- Export Marketing Bureau (DTI-EMB), in collaboration with the Export Development Council and PHILEXPORT under the Philippine Export Competitiveness Program (PECP).

Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivables, i.e., invoices to a third party (called a factor) at a discount. Factoring is not the same as invoice discounting. Factoring is the sale of receivables, whereas invoice discounting is a borrowing that involves the use of accounts receivable assets as collateral for the loan. Export factoring on the other hand, is a package that encompasses credit protection, export working capital financing, foreign accounts receivable bookkeeping and collection services. The financier (factor, which usually are the banks) will purchase accounts receivable of invoices, which are raised once the seller (exporter) ships the goods to the buyer. Factoring was discussed by Mr. Etienne Von de Bogaert of the Eurofin Asia Group Pte Ltd., a company based in Singapore.

Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the internet. Crowdfunding offers a chance of success for MSMEs by showcasing their businesses and projects to the entire world. Crowdsourcing was discussed by Mr. Edison Tsai of New Union.

DTI-EMB regularly conducts these information sessions through its Philippine Export Competitiveness Program (PECP)featuring current concerns of exporters. For more details and updates on topics, contact DTI-EMB at telephone number 465-3300 loc. 109 or email to exponent@dti.gov.ph.-Grace T. Mirasol

6th June 201723rd May 2019

PNB launches new credit facility for SMES

The Philippine National Bank (PNB), one of the country’s largest private local commercial banks, launched the Small Enterprise Virtual Card for Small Enterprises last 06 March 2017. This new loan facility is fully operational starting 25 March 2017. It is PNB’s financing innovation to SMEs who are looking for additional capital for their business expansion.

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