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The Department of Trade and Industry (DTI) recently released its first batch of loans under the coronavirus disease (COVID-19) Assistance to Restart Enterprises (CARES) program to micro and small enterprises. Fifteen borrowers from the National Capital Region and 26 borrowers from the Cordillera Administrative Region received the first batch of CARES program loans. DTI Secretary […]
To help the overseas Filipino workers (OFW) who were repatriated after losing their jobs abroad, Senator Sonny Angara reminded the Overseas Workers Welfare Administration (OWWA) to fulfill its mandate of providing them with low-interest loans, which they can use to restart their lives again here in the country. As the sponsor of Republic Act 10801 […]
Micro, small and medium enterprises (MSMEs) will be offered zero-interest loans under the Philippine Economic Stimulus Act (PESA) bill, government officials said. “If we’re able to get zero-cost funding, that’s the fund that we can lend at zero percent also. And then out of that funding, we will just ask for administration fee. So that’s […]
In Executive Order 29, Mayor Joy Belmonte stressed that the city government is duty-bound to ensure the availability of sources of loans and credit to the poor and marginalized, during the ECQ.“Entities that are duly regulated by governmental authorities to offer loans and credit will be allowed to operate so they can provide assistance to […]
Senator Win Gatchalian reminded private lending institutions accredited under the Department of Education’s (DepEd) Automatic Payroll Deduction System (APDS) not to impose penalties on late loan payments by teachers during the lockdown being enforced to contain the spread of the coronavirus disease 2019 (COVID-19) pandemic. In a March 20 letter addressed to private lending institutions […]
Senator Win Gatchalian is pushing for the implementation of a minimum 30-day grace period for loan payments within the enforcement period of the enhanced community quarantine over Luzon. Gatchalian is proposing that the grace period for loan payments cover all banks, including quasi-banks, financing companies, lending companies, and other financial institutions, both public and private, […]
To help them rebuild their lives amid the calamity, Senator Win Gatchalian is calling for the imposition of a one-year moratorium on loan amortizations for residents affected by the Taal Volcano eruption. Immediately upon Congress’ resumption of session, Gatchalian filed Senate Resolution No. 289 (SRN 289) urging the Government Service Insurance System (GSIS), the Social […]
The National Electrification Administration (NEA) has continued to support the electric cooperatives (ECs) in their various electrification projects focused on improving their services to the communities they serve. Latest data from the NEA Accounts Management and Guarantee Department (AMGD) showed that from January to June 2019, the state-run agency released P395 million worth of loans to […]
Electric cooperatives (ECs) are embarking on construction and improvement of infrastructures that will help ensure better operational efficiencies and continuous delivery of electric services to their consumers. In the first quarter of this year, at least 13 power co-ops availed of loans amounting to P250 million from the National Electrification Administration (NEA) to bankroll their […]
A bill aiming to overhaul the country’s warehouse receipts system to help boost farmer’s productivity, introduced by Senator Win Gatchalian, has been sponsored by Senator Koko Pimentel, III, chairman of the Senate Committee on Trade, Commerce, and Industry. According to Gatchalian, he filed Senate Bill No. 2171, otherwise known as the Philippine Warehouse Receipts Act […]