Panayam kay Small Business Corporation President and CEO Robert Bastillo kaugnay sa open loan facility para sa mga MSME na sinalanta ng nagdaang bagyo

1 year ago

Panayam kay Small Business Corporation President and CEO Robert Bastillo kaugnay sa open loan facility para sa mga MSME na sinalanta ng nagdaang bagyo

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Transcript

00:00Open Loan Facility for MSMEs who were affected by the typhoon.

00:06We will talk to Robert Pastillo, President and CEO of Small Business Corporation.

00:15Sir Robert, we're so happy to have you. Good afternoon.

00:18Good afternoon, Nina and Yosec.

00:22And good afternoon to our listeners today.

00:26Sir, Small Business Corporation launched an Open Loan Facility

00:32for MSMEs who were affected by the typhoon.

00:38What are the details of this, sir?

00:41Okay, actually, Nina, this is a standing program of Small Business Corporation.

00:47We always open a loan facility when there's an emergency.

00:54Since the typhoon Yolanda and the pandemic,

01:02Odette and now Carina.

01:05So whenever there's an emergency, if the banks and financing institutions don't lend anymore,

01:12we come to them.

01:14And there are special terms for this.

01:17For example, now we call it Carina.

01:20And this Carina is for all those who were declared under the state of calamity.

01:26I think there are nine areas in the entire country that are under the state of calamity.

01:30So while they're still there, they can borrow from Small Business Corporation

01:36loans to be transferred because their operations were slightly disrupted.

01:44So that's to help them normalize their operations.

01:51Sir Robert, can you tell us what are the key features of this Enterprise Rehabilitation Financing Program?

02:00Like interest rate and payment terms.

02:03And maybe you can also add, what are the qualifications for them to be entitled to a loan?

02:09Okay, number one, a qualification.

02:11As long as the business is registered in the declared calamity area,

02:17no questions asked, they're qualified.

02:20Okay.

02:21Second, they can borrow up to P300,000.

02:27Third, there's no interest in the first year.

02:31So zero interest in the first year.

02:33And the 1% interest per month will start on years two and three.

02:39They can pay up to three years.

02:42Third, or is it fourth?

02:44They can have a grace period on the option of the borrower.

02:49They can not pay the principal for three months.

02:53So in the first year, there's no interest and they can not pay for three months.

02:57And they can pay up to three years.

03:00The regular interest after the first year is 1% per month.

03:05Wow, only 1%?

03:07Yes, and Ms. Nina, that's based on the 1% applied to the diminishing balance.

03:13What I mean by diminishing balance,

03:15the 1% is applied to the balance of the principal.

03:19So the effective rate is less than 12% per annum.

03:23It's lower than 12% per annum.

03:25It's only 7% to 8%, something like that.

03:29Sir Robert, can I ask, do you require collaterals?

03:34No, we don't.

03:35Our loans, like the regular loans of SB Corp,

03:39up to 5 million without collateral.

03:42But we have different programs, different terms.

03:45Our regular program,

03:46the common feature of all of them is that up to 5 million will be borrowed without collateral.

03:52After 5 million, there can be a collateral that can be borrowed

03:56if that is what is called purchase order financing.

04:00A purchase order is when you give an order to a big company or an export buyer

04:06and we will lend you the whole amount that you need to supply that order

04:14and you can also pay us the whole amount if you were able to pay.

04:17That can exceed 5 million, the amount that will be borrowed without collateral.

04:22Only the collateral is the PO.

04:26But the PO, this program, we will launch it towards the end of the month.

04:33So hopefully, I will be able to come back here to share this good news.

04:38Now, I am calling on our Metro Manila, for example.

04:43The whole Metro Manila, Ilocos Norte, there are 9 areas,

04:48La Union, Tarlac, Pampanga Bataan, Rizal, some parts of Laguna,

04:58and other parts of the country, as long as it is declared under the state of calamity,

05:03they can borrow.

05:04They did not understand that we do not have a lot of requirements,

05:09that we will not ask for proof that they are in debt.

05:13As long as they are inside the area, for example, the whole Metro Manila,

05:16as long as they are inside, they only have a business permit,

05:19that is a barangay business permit or mayor's permit.

05:22If they are just borrowing a small amount, P100,000 or less,

05:25it is just a barangay business permit.

05:27Or if it is lost due to flood, even if it is just a certification from the barangay

05:31that they operate as businesses,

05:35if it exceeds P100,000 to P300,000, it is just a mayor's permit.

05:41So, that is all that is needed, ID, that business permit, and your bank account.

05:47That is all that is needed.

05:48We will not ask for documents that are lost.

05:52Even if you were not flooded, we know that you were affected by the storm,

05:58no matter what.

06:00So, there is a way.

06:01But this window, until the end of the month, until September 30,

06:07it is possible that it will be extended for another week.

06:09So, please make it easy, please borrow.

06:11And once that is over, we have a lot of regular loans that you can use, borrow.

06:18So, it is not exclusive.

06:20If they were able to get it from CARINA, they can also borrow from our regular loans.

06:25And even if you have existing loans from us, you can still borrow from CARINA,

06:30Enterprise Rehabilitation Financing Program.

06:33It is nice because I am a business, a small business owner myself,

06:37and we are affected because my business is in Ilocos, Metro Manila.

06:41So, both are in a state of calamity.

06:43Can you borrow once?

06:46Just once?

06:47Yes.

06:48Yes, that is a good question.

06:49What if your business spans both?

06:52So, just once?

06:53In one place.

06:54In one place.

06:55So, but if your business has an extension,

06:58for example, your other people are in another state of calamity.

07:03Let's say like me, for example, I have an office in Ilocos,

07:05I have an office in Manila.

07:07Ah, okay.

07:08You can borrow once.

07:11You can borrow once so that the processing will be fast.

07:14I see.

07:15So, you won't need any financial statements, right?

07:19No, no, no.

07:20So, just the permit.

07:21Because it is fast, borrowing is fast.

07:24So, just the permit, even if there are no financial statements, nothing like that.

07:28Just the permit.

07:30As long as you are a legitimate business in those calamity areas,

07:35you can borrow up to P300,000.

07:37Okay.

07:38This is a good deterrent for those who apply for loan sharks, right?

07:43Because instead of resorting to that, we have a program like this.

07:48So, I hope our countrymen will avail this because it is almost the middle of the month.

07:53I hope you can extend it, sir, more than September 30.

07:56Because I hope it will be a few more months after.

08:00How much is your budget for this?

08:02We are flexible.

08:05It depends on how many apply.

08:07For now, there are more than 500 million.

08:10If there are more, even if it exceeds 1 billion, we can accommodate it.

08:13So, I encourage everyone to take advantage of this.

08:20And if you need more, just go to our website, sbcorp.gov.ph.

08:28Our loan programs are there.

08:30We also have a Facebook account.

08:33You can follow us there, Small Business Corporation.

08:37And when you learn about our other programs, you can borrow from our regular programs

08:44so that your business will continue and your income will grow.

08:51Once you submit the requirements, when will you get your loan?

08:56It's just quick.

08:57Our target is one week.

09:00Even if there is a small hitch, for example, the business permit is not yet submitted,

09:07we will still call for it.

09:09It might take a while.

09:11Where will you give it to?

09:13Will you deposit it in the bank?

09:15What is the process?

09:17It can be in the bank if there is a bank account.

09:19It can be in the payment channels.

09:21If they have Gcash, Paymaya, you can deposit it there.

09:25And they will also pay there.

09:27Sir Robert, for our countrymen to understand better, what is the difference between the ERF program of SB Corporation

09:35compared to other finance options in the market?

09:39Do we have other benefits that you would like to share from this program?

09:43I don't think there is any difference in the program.

09:47For example, our COVID-19 ERF program, we call it Bayanihan Cares.

09:55It is no longer valid because there is no interest.

09:59For example, they have to pay for three years.

10:03There is no interest for three years.

10:05And there is still a grace period.

10:09But that is over.

10:11Our current program is not that bad.

10:13So there is interest after the first year.

10:17But that is already one year.

10:19And there is still a grace period.

10:21There is no such program.

10:23The only thing that can defeat such a program is the help of LGUs.

10:29Oh, the direct help.

10:31Direct help.

10:33But for us, because of the support of our businesses, SB Corporation,

10:37we are included in the DTI family of the Department of Trade and Industry.

10:45Our new Secretary, Secretary Roque, is a strong supporter and advocate for the establishment of MSMEs.

10:53That is his passion.

10:55We will launch other programs later this month or early in October

11:02to address the various needs of our small businesses.

11:06But for now, I ask you to take advantage of this facility

11:11because this is an opportunity for you to adjust to the normalization process.

11:17Even if you are already a bit normal now,

11:19there is still a chance that our P300,000 will still help.

11:23Now, if you need more, we have more for you.

11:26If we need more, there will be more requirements now?

11:29A little, just a little bit more.

11:31Maybe the requirements are big for your debt.

11:34Again, if your debt is only P100,000, regular, not cash,

11:39we will only ask for an additional three liters of your business with a signage.

11:45For cash, we will not ask for that anymore.

11:47But for regular, that is the only additional requirement.

11:51If it goes up to P300,000, just a little information about the assets of the business.

11:58Once it exceeds P300,000, we will visit you.

12:05So that we can see that if we lend you P3 million, you really have a business.

12:10Yes, yes.

12:11Well, that's very good to know.

12:13So that not only after this typhoon,

12:16those who are struggling now for whatever reason,

12:19they know that there are agencies or departments like yours

12:26that really takes care of the small businesses.

12:30Yes.

12:31So, please send a message to our fellow countrymen who are watching us now.

12:36The Small Business Corporation, under DTI, is your partner in the development.

12:42It is also part of the Department of Trade and Industry,

12:45which supports your other needs, such as training, marketing assistance, digitalization.

12:52We, on the other hand, help you by giving you a loan

13:00that you need to lower your interest,

13:03the requirements are simple, there is no collateral.

13:06So, all we need is for you to go to our website,

13:11or follow us on our Facebook account.

13:15And we are always there.

13:18We are always reminded of you.

13:21All right. Thank you very much for your time,

13:25Robert Bastillo, President and CEO of Small Business Corporation.

13:31Thank you very much, Nina and Yusef Gutierrez.

13:34Long live to the new Philippines.

Panayam kay Small Business Corporation President and CEO Robert Bastillo kaugnay sa open loan facility para sa mga MSME na sinalanta ng nagdaang bagyo

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