Women-owned and women-led micro, small, and medium enterprises (WMSMEs) can now avail of loans of up to P20 million through the Women’s Enterprise Fund of the Small Business Corp. (SBCorp), the government’s micro-financing arm under the Department of Trade and Industry (DTI).
Launched on Friday, June 27, the Women’s Enterprise Fund will provide women-led MSMEs additional access to capital. Women entrepreneurs can avail of loans as low as PHP30,000 with one percent monthly interest rate. The loan is payable over a period of up to five years with an option to avail of a grace period for specific financing windows. Only loans exceeding PHP5 million will be required collateral.
The loan can be used for business needs, including franchising, purchase order financing, business expansion, and recovery assistance of WMSMEs.
“Women are a vital driving force in our economy. In fact, more than half of newly registered businesses are owned or led by women. By providing accessible loans, we are empowering them further to grow their enterprises and create lasting opportunities for their families and communities,” Trade Secretary Cristina Roque said at the launch.
For his part, SBCorp. President and CEO Robert Bastillo said that to date, the agency has disbursed more than P 8 billion in loans to WMSMEs.
Interested entrepreneurs can apply for the Women Enterprise Fund online through the www.brs.sbcorp.ph. Applicants must submit a business permit (which can be a Barangay Certification, Mayor’s Permit, or BMBE certificate), a government-issued ID, proof of a bank account, photos of the business (including signage, inventory, and assets), and relevant corporate documents if applicable.
