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Same terms will be applied for small-scale business owners that would like to borrow from the COVID-19 Assistance to Restart Enterprises (CARES) fund for the 13th month pay of their employees, Trade Secretary Ramon Lopez said. This is after Labor Secretary Silvestre Bello III bared that the Department of Trade and Industry (DTI) committed some […]
The Department of Tourism (DOT) and the Small Business Corporation (SB Corp.) of the Department of Trade and Industry (DTI) signed a memorandum of agreement (MOA) to finalize the Coronavirus Aid, Relief, and Economic Security (CARES) for Tourism Rehabilitation and Vitalization of Enterprises and Livelihood (TRAVEL) program that will extend loan assistance to micro, small and medium […]
The National Electrification Administration (NEA) exceeded its full-year target for lending to electric cooperatives (ECs) nationwide in just nine months of 2020. Loan disbursements, including calamity loans, to ECs between January to September this year totaled P364.542 million, data from the NEA Accounts Management and Guarantee Department (AMGD) showed. Excluding calamity loans, the NEA has […]
The National Electrification Administration (NEA) collected P773.91 million in loan amortization payments from the electric cooperatives (ECs) in the first six months of 2020. This translates to 95.90-percent collection efficiency, the NEA Finance Services Department said in a report submitted to Administrator Edgardo Masongsong. NEA offers various loan windows to qualified ECs, such as regular, […]
With the Bayanihan to Recover as One Act (Bayanihan 2) now signed into law, Union of Local Authorities of the Philippines (ULAP) National President and Quirino Governor Dax Cua on Saturday urged local government unit (LGU) executives to make full use of loans and loan subsidies now available to LGUs in order to help them […]
Deputy Speaker LRay Villafuerte said over the weekend the proposed Bayanihan To Heal As One Act that the House of Representatives is set to ratify on Monday contains features that aim to strengthen the coronavirus disease (COVID-19) response capabilities of local government units (LGUs) and hasten the recovery of businesses hit hard by the coronavirus-induced […]
House Tourism chair Sol Aragones clarified that the tourism sector will still have access to billions of pesos under the Bayanihan to Recover as One Act, or Bayanihan 2, and revealed on Friday that Congress had even set up meetings between tourism stakeholders and government financial institutions so that they could easily obtain loans to […]
Loans, including calamity loans, extended by the state-run National Electrification Administration (NEA) to electric cooperatives (ECs) reached P343.445 million in the seven-month period (January to July 2020). A big chunk of these loans, P240.365 million, went to fund the electrification projects and working capital requirements of nine ECs, data from the NEA Accounts Management […]
The Department of Agriculture (DA) recently transferred to the Land Bank of the Philippines (LandBank) an additional P1.44 billion to fund loans made by farmers, fisherfolk, and agripreneurs under the Agricultural Competitiveness Enhancement Fund (ACEF) credit program. “The fresh fund augments the previous P4.495B the DA has cumulatively entrusted to LandBank, being the administrator of […]
Porfirio Caagbay, 67, of Tayabas, Quezon, used to harvest an average of 4 tons of palay (unhusked rice) without using fertilizer. This current main season, with fertilizer support from the Department of Agriculture (DA), the veteran farmer looks forward to harvesting 2 tons more, as he will apply at least four 50-kilo bags of urea […]