Government Allots P1-Billion for SMEs

The government is making available starting February an initial P1 billion funding for micro and small enterprises in a move aimed at putting a stop to a money lending scheme that charges almost 24 percent per day. It said that 90 percent of fund would most likely go to microentrepreneurs who have a borrowing capacity of P5,000 to P10,000.  The remaining 10 percent would be channeled to small and medium entrepreneurs who may…

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