House OKs bill on sustainable, collateral-free loans to MSEs | Jovee Marie de la Cruz

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House OKs bill on sustainable, collateral-free loans to MSEs | Jovee Marie de la Cruz
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A measure seeking to establish a sustainable and collateral-free financing program for the country’s micro and small enterprises (MSEs) was endorsed for Senate approval on Tuesday.

A measure seeking to establish a sustainable and collateral-free financing program for the country’s micro and small enterprises was endorsed for Senate approval on Tuesday.

“As MSEs employ millions of Filipinos, they need to grow in numbers to employ more workers. This measure seeks to enhance the entrepreneurial spirit of the Filipinos by taking out two of their worries, which are high-interest rates on MSE loans and putting up collateral for financing,” he added. The bill said the SB Corp., the financing arm of the Department of Trade and Industry , shall be the lead implementing agency for the P3 Fund.

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