The Department of Trade and Industry Regional Office III is set to hold a briefing on the rollout of its Pondo Para sa Pagbabago at Pag-Asenso (P3) loan program. The briefing will be held on May 31, 2017, 9 am at Gracelane Hotel, City of San Fernando, Pampanga.

The DTI-3 invited Rebecca Narciso of the Small Business Corporation (SB Corp) to conduct the briefing on the rollout of the P3 program. DTI-3 initiated the information dissemination of the program to orient stakeholders of the program including potential and accredited conduits, Micro, Small and Medium Enterprises (MSMEs) and media partners. The briefing will also be held to clarify the requirements and procedures in availing of the loan from accredited microlending institutions.

The P3 program was conceived by DTI to help microenterprises gain easier access to alternative financing which is reasonable in cost. The Small Business Corporation, an attached agency of the DTI, will administer the P3 fund. SB Corp has initially allocated Php 100 Million for lending to microenterprises throughout the country, at an interest rate of 2.5% and amounts ranging from Php 5,000 to Php 100,000. Under the P3 program, the loan does not require collateral and minimal documentary requirements will be submitted.

The target beneficiaries for the P3 program are micro and small enterprises in priority and emerging industries and technology innovators. Aside from the individual loans, the P3 fund also allocates money for wholesale lending where SB Corporation will partner with conduits.