The Department of Trade and Industry (DTI) – Quirino Provincial Office, in partnership with the Small Business Corporation (SBC) Northern Luzon Group, conducted a financing forum on September 20, 2016 at the Social Hall, LGU Maddela, Province of Quirino. It was the second financing forum conducted in the province during the semester, the first was conducted on July 25, 2016 at the Negosyo Center, DTI, Cabarroguis, Quirino.
The activity is one of the initiatives of the Negosyo Center in Maddela, Quirino to bring closer to the MSMEs the services of the government.
In her message, SVTIDS Lenore Lee S. Lopez of DTI Quirino, encouraged the attendees to visit the Negosyo Center to seek assistance regarding their concerns in developing their businesses.
She emphasized the role of MSMEs for the country’s economic growth, employment creation and innovation.
She mentioned the four pillars of MSME development, which include A2F or Access to Finance, and other projects implemented by DTI to help MSMEs maximize their potential as engines of economic growth.
Ms. Marjorie Mostoles, Desk Officer of SBC Cauayan City discussed the SBC’s products and offerings emphasizing the significance of financing facilities in promoting the growth of MSMEs.
She presented the 3 major loan facilities of the Corporation namely: (1) Structured Financing Program which is a direct lending program for MSMEs that needs funding for their business expansion and may be used for fixed asset financing and working capital financing; (2) Pocket Farmers Lending Program for farm development of high value crops; and (3) Public Transport Lending Program for the acquisition of vehicle with a franchise to operate or for transportation of goods.
In attendance during the forum were fifty nine (59) MSMEs from Maddela and neighboring towns of Nagtipunan, Saguday and Cabaroguis under industry sectors namely: manufacturing, trading and services and agriculture.
After the forum, a one-on-one consultation between SBC representatives and participants were conducted to clarify their concerns.
About 20 MSMEs expressed their interest in availing loan and were advised to fill-out the application forms handed to them and submit it to the Negosyo Center.