MSMEs on focus: Success Stories

Didang’s Food Products, a micro, small, and medium enterprise (MSME) from Tuba, Benguet, is one of the many businesses that suffered great losses due to the community quarantines implemented last year. The business’ inventory suffered from spoilage forcing the business to close its doors.  Luckily, the owner, Ms. Lontoc visited the Negosyo Center in their area where she learned about the Pondo sa Pagbabago at Pag-asenso (P3) and COVID-19 Assistance to Restart Enterprises (CARES) programs of Small Business Corporation (SB Corp.). Through the loan program, she was able to buy new materials and equipment.  For her, obtaining the loan was so vital in bouncing back.  It gave her high hopes that they will be able to hurdle this pandemic’s challenges.

Josefa Ganipac, a small enterprise owner, was also another micro-enterprise who struggled to make ends meet. The sales from her small sari-sari store were not enough to fund the expenses of their household. With a passion for business and love for her family, she decided to venture into more businesses with the assistance of Rangtay sa Pagrang-ay Microfinance, Incorporated (RPMI). From a sari-sari store, she also ventured into the food business as well as livestock.

RPMI is a non-stock, non-profit, and non-government Christian Micro-Finance Institution (MFI) client of SB Corp under its P3 Wholesale Loan Program. The MFI provides assistance to at least 50,000 clients across North and Central Luzon.

SB Corp’s two-way approach in helping MSMEs

The SB Corp. is an attached agency and financing arm of the Department of Trade and Industry (DTI) mandated to provide financing initiatives for MSMEs. Two of its major financial assistance programs are P3 and Bayanihan CARES.

Under the P3 program, micro-enterprises are provided with an alternative source of financing that is easy to access and at a reasonable cost which helps boost the development of entrepreneurship and the MSME sector. Its beneficiaries include micro-enterprises like market vendors, agri-businessmen, livestock growers, and members of cooperatives, industry associations, and co-operators. To reach out to more clients, SB Corp also offers wholesale loans to corporations, cooperatives, or banks with minimal interest rates. This allows SB Corp to reach more clients, especially from far-flung areas. SBCorp currently has 27 partner MFIs in the region where clients can avail of loans.

The Bayanihan CARES is a special financing program for MSMEs affected by the COVID-19 pandemic. It aims to prepare for an immediate rebound by providing urgent relief needed to restart MSMEs. Loans from the Bayanihan CARES Program are interest-free, collateral-free, and have grace periods available to MSMEs. As of 16 April, 1,582 loan applications have been received from CAR with a total of P133M amount requested. A total of 1,409 loan applications have been approved with a cumulative amount of P106M from across the region. For those who wish to avail of the above-mentioned financial assistance, you may reach out to the SB Corp via email at and telefax at (074) 424-7647. You may also visit their desk officers in DTI Offices near you.♦

Date of Release: 19 April 2021