- 2 days ago
As economic pressures continue to build, small and medium enterprises are feeling the strain.
Join us on Beyond the Headlines as we talk to Francisco Buenavides, Head of the Visayas Group of the Small Business Corporation, about how MSMEs are coping with rising costs, changing market conditions, and access to government support.
🔹 Challenges on the ground for MSMEs
🔹 Available financing and assistance programs
🔹 How small businesses are adapting
Watch LIVE and stay updated on issues that matter to local businesses.
Join us on Beyond the Headlines as we talk to Francisco Buenavides, Head of the Visayas Group of the Small Business Corporation, about how MSMEs are coping with rising costs, changing market conditions, and access to government support.
🔹 Challenges on the ground for MSMEs
🔹 Available financing and assistance programs
🔹 How small businesses are adapting
Watch LIVE and stay updated on issues that matter to local businesses.
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NewsTranscript
00:23Good afternoon, welcome to Beyond the Headlines.
00:26I'm DJ Moises.
00:27Amid ongoing tensions in the Middle East, uncertainty continues to affect thousands of overseas Filipinos, including OFWs.
00:38For some, it means tightening their belts.
00:41For others, it is disrupted employment.
00:43For OFWs, it means returning home earlier than planned and having to start again.
00:50And this is where the story begins.
00:52The Department of Trade and Industry, in partnership with the Philippine Amalgated Supermarkets Association, announced a commitment from member supermarkets
01:01to maintain current prices of basic necessities and prime commodities until April 30, 2026.
01:09Pursuant to Republic Act No. 7581 or the Price Act, as amended by Republic Act No. 10623, the monitoring of
01:19prices of basic necessities and prime commodities is undertaken by the appropriate government agency depending on the nature of the
01:28products.
01:29This ensures proper price monitoring and helps protect consumers against unreasonable price increases.
01:37DTI through the small business corporation is stepping up in supporting affected individuals by helping them rebuild through entrepreneurship.
01:47Access to financing, business support, a chance to create something on their own because when external conditions become uncertain, the
01:56ability to generate income locally becomes a necessity.
02:00But behind this initiative is a deeper reality.
02:05Starting a business is not easy.
02:07It requires risk.
02:09It requires patience.
02:11And for many, it begins at a time when resources are already stretched.
02:16And this is the story in today's Beyond the Headlines.
02:20Joining us today is the Group Head of the Visayas of Small Business Corporation, Francisco Ico Buenavides.
02:27Hello, Ico. Welcome to Beyond the Headlines.
02:30Good afternoon, sir DJ.
02:32And welcome.
02:33Good afternoon as well to my viewers.
02:36And thank you for having us here.
02:38No, actually, we've been meaning to guest you here even before the Middle East tension
02:45because I know that your organization is working very closely also to an organization which we commonly know as DTI.
02:54So can you at least educate myself and also the viewers about how a small business corporation is working very
03:02closely with DTI's programs also?
03:05Okay.
03:06Okay.
03:07Actually, Small Business Corporation or SB Corp is an attached agency of the Department of Trade and Industry.
03:13Our specific mandate is to help the micro, small, and medium enterprises by way of giving them access to finance.
03:23Now, SB Corp has been in the business since 1991.
03:29Our Magna Carta has been amended twice already.
03:32The recent one was the 9501.
03:35Now, with regards to what is happening now with this crisis in the Middle East, we have launched programs to
03:46help our OFWs as well as the MSMEs here in the Philippines because I think everyone is affected.
03:54So our bias now is to help the MSMEs affected by this crisis.
04:02So, because among the common question when it comes to financing is also the capacity to accommodate as many, reasonably
04:14as many as possible.
04:15So, in this particular case, because we do have quite a number of OFWs who have already moved back to
04:25the Philippines or who are thinking of moving back to the Philippines and they may be watching, what's the capacity,
04:33man?
04:33How many, for example, OFWs can this program accommodate?
04:38Okay, for SB Corp, we launched this OFW Negocio Fund last month and this is a 2 billion fund that
04:49we have allocated.
04:51So, as long as there is this fund, we will cater to as many OFWs as possible to include their
04:58families.
05:00With regards to the other program, the MSME Business Fund, which we launched sometime early this month, it's another 4
05:11billion fund.
05:12So, to as many MSMEs as possible, we will extend our financial support.
05:19So, for the clarity of our viewers, what we are actually saying is not only do we have an existing
05:29program specifically for OFWs who are affected by the Middle East tension,
05:35but there is also a bigger program that was also launched and this one is open to all MSMEs, regardless
05:47whether they are already in the Philippines or they are still returning to the Philippines.
05:52Yes.
05:53Can you walk us through first on the first one, which is specific to OFWs?
06:00So, how is funding going to be made?
06:03No.
06:04Okay.
06:04For OFWs or to their families who have existing businesses here in the Philippines, they can apply under this OFW
06:15Negocio Fund.
06:17Under this fund, we have four facilities.
06:22OFW Micro Multi-Purpose Loan, the OFW First Timer, the OFW Franchising, and then the OFW PO Financing.
06:34Now, in any of these programs, it is available to OFWs or to their families.
06:46There is also, by the way, another one, OFW Business Expansion.
06:51For those who would like to start or who have started less than a year, but would like to start
06:59a business.
07:00Now, for our interest rate, it's 1% per month based on diminishing balance.
07:08So, in effect, that would be lesser than 1%.
07:14If annualized, it's less than 1%.
07:17The term could be up to 5 years.
07:25We charge processing fee of 3% one time.
07:28And then, for the micro, the loanable amount is up to $300,000.
07:39Across all these programs?
07:42So, meaning $300,000 for those who qualify for each?
07:47The subloan of micro under the OFW because there are different subloans under the OFW Negocio Fund.
07:53So, for micro-multipurpose loan under OFW, the loanable amount is up to $300,000.
08:00For first-timer, for those who have existing businesses that are already at least 2 years old, they can loan
08:09up to $3 million.
08:12Okay.
08:12And then, our franchising, of course, it depends on the franchise that it's getting.
08:17And for our PO financing, it's a credit line that can stretch up to $20 million.
08:23Okay.
08:25Now, for those who would like to start, because I believe this is an interesting one.
08:34Those who would like to start a business, they can opt for the OFW franchising fund or facility or the
08:45OFW business expansion.
08:47For OFW business expansion, we require, since it's starting and no record to validate the performance before, we would like,
09:00we are requiring the submission of a business plan.
09:05And this is the program that can be, the loanable amount is $300,000, no?
09:12It depends.
09:13It depends also.
09:14It depends on the business plan.
09:16We have to assess the business plan.
09:17Now, what is the requirement to start that business?
09:21Just for clarification, because I can see that there's a variation of the loanable amount.
09:27This is $300,000 and then it goes up to millions of pesos.
09:32So, for the $300,000, what specifically are the pre-qualifiers for this?
09:38Because it sounds like an entry level.
09:40Okay.
09:40Okay.
09:41In all of our loan facilities, we have a very relaxed documentary requirements.
09:50Whether you apply for a micro-loan, for a first-timer loan, or for business expansion, or for PO financing,
09:59for franchising, the basic requirements needed are government-issued IDs, your business permit.
10:09But for those applying for $100,000 below, a barangay certification, certifying that you are into that particular business for
10:20at least a year, will suffice.
10:23No need for the mayor's permit.
10:26Pictures of your store, your inventories, your equipments, if you have, and the fourth one is a bank account.
10:36So, those are the four basic requirements.
10:39If you are a corporation, then we would require your corporate papers and the board resolution to borrow.
10:46Now, it depends on what particular sub-facility you're applying.
10:52Say, for example, you're applying for franchising, then we would require your franchise agreement.
10:58If you are applying for a PO financing, of course, POs to back up your loan application.
11:07Can you tell us, at least for our viewers, to have a better appreciation?
11:13Because the moment I heard about the program, which was months ago, I was particularly drawn towards these programs because
11:20I know some people who would want to engage and become entrepreneurs.
11:25Not necessarily OFWs, but they also want to transition from being employees to employers, but not very much aware of
11:36these options that are provided by SB Corp and DTI.
11:41So, let's start with, can you tell us about the success or the types of business that are successful for
11:52this entry type of business, which required a loanable amount of $300,000 and below?
12:01What are these types of business that are now successful?
12:04The basic ones are, of course, the salisari stores, manufacturing of small items, kakanins or what, or those are into
12:20small piggery or layers.
12:26Those are the micro, normally the micro businesses that apply to us.
12:35So, I think, because I hope our viewers were able to capture that because a lot of them also would
12:42be interested to engage with micro businesses, which you mentioned.
12:45And at least now, if they're not aware, they know that they have an option just in case they don't
12:52have the capacity to finance their micro business, they have an option to go to SB Corp for them to
13:01be able to get assistance, financial assistance and support.
13:04Now, let's talk about, for those ranging 3 million and up, what were the types of business, Mansaad, who approached
13:13SB Corp in the past and are now thriving?
13:16Yeah, we have construction supplies.
13:20We have contractors as well.
13:25Those into leasing.
13:27We have those businesses into services.
13:35We are practically into all kinds of businesses except those that are vice generating.
13:43Okay.
13:44So, we cannot finance all the rest.
13:47Like, manufacturing, or liqueur, the bars, the liqueurs.
13:52Or cigarettes.
13:54Yes.
13:54Okay.
13:55Except for those that promote vices.
13:57Yes.
13:58Okay.
13:59And what's the most successful story that you can remember?
14:04Just to encourage our viewers of successful companies that they now see who are also products of the program.
14:13Okay.
14:15Okay.
14:17Okay.
14:17Okay.
14:17At the time when Yolanda struck, I think we were one if not the first to go to Bantayan Island
14:28to help our entrepreneurs there engage into layers.
14:39Up to now, we are there helping them and we've seen them transform from the, those wooden, they call this,
14:52their layer, laying pens to now concrete ones.
14:57So, I think that's, that's one remarkable financing help that we have done for our micro entrepreneurs.
15:12We have also some…
15:14Do you have any kind of brands that people now recognize that started also with the program?
15:24I, no, no, I, I think there's…
15:27Yeah, because I know there's a number of them.
15:29Yeah, but I cannot recall any one for now, but I, I'm sure there are, there are, we, here in
15:37the Visayas, we are numbering to more than 15,000 of those we have given financing assistance.
15:48Mm-hmm.
15:50I think there's an existing, but correct me if I'm wrong, if, if, and if she's watching, but there's one
15:57existing popular clothier, it's Ate.
16:02Mm-hmm.
16:03Mm-hmm.
16:03I think, um, uh, the, the brand is a product of, of, of, of, of the program, no?
16:11And these are, and this is a brand that they can already recognize when they go to malls like, uh,
16:17Robinson's Galleria, no?
16:18She's already there.
16:19So, correct me if I'm wrong, if, if, if, if Tata de la Calzada is watching, but I think she
16:26mentioned in one of the conversations that she is a pro, is a product of, of this type of program.
16:33Yeah.
16:33We have also exporters, uh, before they used to be, to, to only, uh, display their products locally, and have
16:44now grown and started exporting.
16:47Mm-hmm.
16:48Now, correct me if I'm wrong, but from, from what I gathered, the program offers up to 5 million collateral
16:55free. Is this true?
16:57Yes. Up to 5 billion. Yeah. For first time borrowers, collateral free up to 3 million.
17:04For first time?
17:05For first time borrowers.
17:06Because they don't have the track record yet, so you manage the risk.
17:10Yes.
17:10Now, for existing borrowers, when they reapply, uh, first time borrower who has already paid at least 6 months, can
17:21apply for another loan and becomes a Suki.
17:24Now, for Suki, they can apply up to 5 million collateral free.
17:31Wow.
17:32And, also, once they have paid, they have a payment record already of 12 months, and then they apply, their
17:43interest rate is deducted by 1% for every 12 months.
17:47Yes.
17:48And then, which is actually good because that's also one of the limitations, no? If they don't have, uh, properties
17:57just yet, no?
17:58Yes.
17:59For them to be used as, kind of, for collateral, no?
18:02Yes.
18:02So, this is at least a relief, no? For those without track record yet, it's up to 3 million, but
18:07once they establish it, they can already, and their ability, their capacity to pay.
18:13Yes.
18:13Then they can already ask for even more financial assistance or loans.
18:19The other one, also, that I have here is, there is a one-year grace period on both the principal
18:25and the interest for certain products.
18:29Okay.
18:29Can you explain this to us?
18:30Okay.
18:31Earlier, I was explaining about the OFW Negotiate Fund.
18:35Correct.
18:35Mm-hmm.
18:36This month, we launched the MSME Business Fund.
18:39Mm-hmm.
18:40Under this program, under this fund, we are offering up to 12 months grace period.
18:46During this period, you don't pay interest and principal.
18:51Okay.
18:51So, that's a big relief for our entrepreneurs.
18:53That's a big relief, actually.
18:55Yes.
18:55Continue.
18:56Now, but of course, not everyone will get 12 months.
19:00It will still depend on the assessment of our account officers because, for example, your business is an ongoing business.
19:10It's your cash flow.
19:12You transact business cash on a day-to-day basis.
19:15Maybe we can give you three or six months grace period.
19:18But then, if the purpose of your loan is to acquire an equipment which you will be importing.
19:25So, you'll need time to get that equipment.
19:29And once it gets here, we'll have to test it.
19:33So, maybe a 12 months grace period would already be justifiable.
19:39And this is open, not just for OFWs, no?
19:42But for all MSMEs.
19:43Yes.
19:43For all MSMEs.
19:44Because practically, everyone is affected.
19:48So, this MSME Business Fund is open for all.
19:51Okay.
19:52So, at least the viewers have captured that there is an option that's collateral-free.
19:58And then, now we know that there is also, depending on the type of business and the assessment,
20:05there's also a grace period in which you don't need to pay both the interest and the principal just yet.
20:12No?
20:12Yes.
20:13Okay.
20:13No, no.
20:14I'm actually happy to hear all these.
20:16The other one also is, you've mentioned about the interest rates earlier, no?
20:23But for the education of those who are not very familiar about the business dynamics in the Philippines,
20:32how is SB Corp's interest rate, how does that compare to when they actually go to a bank
20:41and then have their loan application approved there, no?
20:47What's the benefit if they go to SB Corp instead?
20:50Okay.
20:51For one, maybe the collateral-free amount.
20:55Yes.
20:56And the grace period, though.
20:57Is one.
20:57And the grace period...
20:58But the interest rates...
20:59In terms of interest rate, as compared to commercial banks, maybe SB Corp's really a little higher.
21:07But there may be some banks where we can be comparable in terms of our interest rate.
21:16Now, let this be also, for information, SB Corp is here to help those that are not bankable yet.
21:30True.
21:32We are here to give assistance to the underserved and the unserved MSMEs.
21:38So those are actually our clientele.
21:43So giving this interest of 1% as compared to where they are getting money now, say 5-6, which
21:50is very, very much higher,
21:53then ours is very low as compared to that one.
21:58I think you made a good point, no?
22:00And correct me if I'm wrong, but I'll also synthesize it for the viewers.
22:04What you're actually saying is, while the interest rates of SB Corp is quite higher compared to the interest rates
22:13that they see in commercial banks,
22:15but it's also what makes it sustainable, right?
22:20Because SB Corp, unlike commercial banks, are willing to take in more risks from businesses who do not have collaterals
22:32and for businesses who also need a grace period.
22:36And in both counts, they will not get that leverage in a commercial bank.
22:42Maybe for type A clients, but not everyone.
22:48Correct.
22:49Especially for those who don't have a track record just yet.
22:53So the other one is, how does this work also, at least from your observation, for those OFWs who eventually
23:03returns to the Middle East,
23:04just in case their employment is disrupted and then they are in Cebu right now.
23:09And then eventually opportunities opened up to them again, let's say January of next year.
23:15So they're going to fly out, no?
23:19How does that dynamics also play?
23:23Can their family members also take over?
23:26Or should they stay as the owners?
23:28Or how does that work?
23:30This OFW Dinkosyo Fund is not exactly for the OFW himself or herself,
23:37but could also be to his immediate family.
23:39Family, okay.
23:40So, for example, the son is an OFW or the husband is an OFW
23:47and the owner or the registered owner of the business is the wife,
23:52then the wife can apply for a loan.
23:55And now there, I also read here that the application is now digitized.
24:02Yes.
24:02Sige, can you walk us through on the process now?
24:05Okay.
24:06All our lending facilities, the application is via online already.
24:13So you don't need to go to our offices and then bring your documents there.
24:18Even at the comforts of your business sites or your rooms, you can apply for a loan.
24:25So long as you have those four basic requirements, you can upload it there.
24:32So even if they're planning to return just yet, they can already kick off the process.
24:38Yes.
24:39Continue.
24:40Now, they can just on your Android phones, you can download SB Corp Money.
24:48It's an app where you can create an account and then go through the process of the application.
24:56Now, the other one, it's because you also mentioned earlier that the business plan is essential.
25:03And the way at least I observe potential MSMEs, their issue is not just on financing, which SB Corp by
25:18now I'm convinced is a good route for them.
25:21The other concern also that they have is they're not savvy just yet in terms of preparing business plans.
25:30So what options or access can they leverage for them to be able to address this gap also, at least
25:40from your experience?
25:41The business plan is required only for the OFW or the MSME business expansion facility.
25:53If you are applying for a micro multipurpose loan, for a first timer, for franchising, you don't need to submit
26:02business plan.
26:04The business plan is required for relatively new, not yet one year old or about to start businesses.
26:14We can assist.
26:15We have a template for a business plan.
26:20And by the way...
26:21And I think DTI also is providing...
26:24DTI can also assist.
26:27That business plan is not required upon loan application.
26:32Once your documents are already reviewed and you pass that stage and the credit investigation results are favorable, then an
26:44account officer will call you and that's the time that they will request for you to submit the business plan.
26:50Now, if you don't know how to do it, then we can assist.
26:54We have a template.
26:55Yeah.
26:56And I hope our viewers have captured that because I think that's also the other limitation.
27:05And now DTI is also accepting that.
27:08I'm actually saying no, not because of his answer, but because of the message that was sent to me.
27:13And then just in case the viewers were confused with the gesture.
27:18The other one also is, what is your advice also for potential entrepreneurs and OFWs?
27:30Because that's part of the target that you have.
27:35Who are hesitant in terms of taking out a large loan.
27:41Because I think the other part also, there are at least two main sets of people that I've met on
27:48the entrepreneurial space.
27:50There are those who are reckless and that's not your market, but there are also those who are too conservative.
27:56That even if they have big plans, even if their business plan actually looks solid, but they are also hesitant
28:08to apply for a large loan.
28:11What's your advice to them?
28:13First, we have to understand that we are not all, everyone is not fit to become entrepreneurs.
28:23Now, if you are not one, then maybe you are good in other things.
28:29Like staying an employee.
28:32Yeah, or maybe agriculture would best fit you.
28:39But for those who really wanted to become one, it's not bad to say, nah, I will not loan for
28:48one million.
28:52Or I will have to loan for five million because this is what I wanted.
28:57If you are convinced with your proposal, with your business, then go for it.
29:04Now, of course, there are other considerations that you have to take into.
29:14Are you willing to take the risk?
29:18Remember, if your source for funding your business is through loans, that's loan.
29:27Whether your business becomes successful or not, you will pay that loan.
29:33So there's that balancing act.
29:36And in the context of the question why I raised that, because not only do I know some people who
29:42are very conservative when it comes to taking on a large loan, and I'm actually part of them.
29:50So XP Plus, as we speak, is debt free.
29:54And some of my entrepreneur friends would tell me that maybe that is also part of the limit that I
30:02set to myself.
30:03Because I tend to just expand according to my capacity, instead of just taking the risk so that I would
30:13be able to scale the business faster.
30:17So that's where the context of the question is.
30:21So for the benefit also of our viewers, I have here a table of the feature and also the details
30:32of such.
30:33And then correct me if I'm wrong, if I'm going to read the details incorrectly.
30:37Okay, this is just a summary that I pulled from various sources.
30:43So specific to OFW Negosio Fund, the target is returning or families of OFW.
30:50Yes.
30:51The total fund pool, you've mentioned this earlier, it's $2 billion.
30:54So that means there is no specific number, as you said, of OFWs who can avail of this.
31:02But what we can say is there's just a huge pool.
31:06And then the loan amount can be up to $20 million.
31:10Yes.
31:11Collateral free is up to $5 million.
31:15Grace period, one year.
31:17Principal interest, maximum, because it depends also on the type of business.
31:21Yes.
31:22And then for MSME, business fund, and this one is already existing local SMEs, at least one year, no?
31:30Yes, yes.
31:31Okay.
31:32And then the fund pool, you've mentioned this earlier, it's $4 billion.
31:36Yeah.
31:36So no specific number that can be accommodated, but this is also a huge fund base.
31:44Loanable amount, up to $20 million.
31:47Yes.
31:47Collateral free, it's also up to $5 million.
31:52Yes.
31:52Grace period is also one year, depending on the type of business.
31:57Yes.
31:58Okay.
31:58By the way, just curious, and the context of the question is to encourage our viewer to have more entrepreneurial
32:05spirit.
32:07Because it's comfortable to be an employee, but if we have what it takes to become entrepreneurs, I'm also encouraging
32:17people to take the route of becoming employers.
32:20Yes.
32:21Because there's a multiplier effect that we also contribute to nation building.
32:27So my question actually is, for existing local MSMEs, what's the take up rate, man?
32:36Meaning you have this fund, how much of this is actually being availed by the public?
32:43Because, okay, it makes me sad.
32:46Continue.
32:48When we launched the MSME business fund, first week of this month, for the first two weeks, I had an
32:59information that we were able to receive more than 4,000 loan applications.
33:05Oh, so it's not bad. Continue.
33:08For, from January, February, and March of this year, for the first quarter of this year, we're
33:15siguro averaging around 3,500 loan applications.
33:19Very good also.
33:20Yeah.
33:20But for this month alone.
33:22By the way, this is nationwide.
33:23Yes, nationwide.
33:24Okay.
33:24For the two weeks period this month, we're already getting more than 4,000.
33:30So, I think that's because everyone is affected.
33:35Correct.
33:35And they needed that financial relief.
33:38No, I'm glad that there's an accelerated response.
33:41So now, my question then becomes reversed.
33:45What's the approval rate, at least estimate, of these thousands of applications already?
33:51And this is to motivate people.
33:52The reverse has said, oh my God, there's already 4,000.
33:55Can I still get in? Continue.
33:57Okay.
33:59For loans, 300,000 and below, we are using machine learning, AI, in saying you are passed
34:10or failed.
34:12Now, upon loan application, your loans undergo the borrower information assessment stage.
34:20This is where we check the documents that you have submitted.
34:23Is it still valid, your permits?
34:26Are they authentic?
34:29Okay.
34:30We are receiving also fake documents.
34:33Unfortunately.
34:34And the second stage is you go through the credit standing assessment.
34:40This is where we investigate your credit worthiness.
34:44Do you have passed due loans from other creditors?
34:47Your credit cards, are they paid?
34:49Now, if you pass these two stages, then it goes already to the computer.
34:56Computer says you pass or you fail.
34:59And then after that, if you pass, then you go to the releasing team.
35:05Now, the processing itself is very short.
35:09In fact, we are doing roadshows in some provinces and there is that same day approval for loans, 300,000
35:18and below.
35:20Now, what actually takes time is when the documents needed to be rectified.
35:27So we also encourage the loan applicants to check from time to time your emails
35:35because we are emailing you to correct this one, to upload another one because it's not clear.
35:42Like that.
35:42So if the loan is 300,000 below, it's almost same day.
35:50Yeah.
35:50But since that, that for the roadshow, but the normal process, yeah, it's seven to 10 days.
35:59Now, for more than 300,000, once it passes the first two stages, it goes to our account officers.
36:07So the account officers make evaluation.
36:10They assess the business for the visit through our field coordinators assigned in each provinces.
36:20And then if everything is okay and then you have submitted the specific document for the particular program that you
36:27have applied,
36:28because it depends on the particular loan facility, then the account officers will process it.
36:39Now, the processing itself is just very short, one or two days.
36:43What takes time for now is when can the account officers pick your loan application for processing because of the
36:55volume.
36:55Now, we're already addressing that one.
36:58We're trying to request for additional account officers so that we can fast track loan applications.
37:06So what we're actually saying, at least I'll synthesize it for the viewers, is they don't have to...
37:12I'm glad that there's an accelerated take-up rate because the fund is there.
37:16So they don't have to worry if they have a solid business plan.
37:21And then the other thing also is they don't have to be discouraged when they heard that there are already
37:26thousands of applicants
37:28because they will still be processed within a standard timeline.
37:34Now, down to my last two questions na lang.
37:37Are there types of business that you are prioritizing like whether it's agriculture, whether it's tech, or whether it's retail,
37:48or this is the same application across sectors?
37:57Yesterday, we launched another program.
38:01It's the e-transport fund.
38:05So since that's a specific type of program for those operators, transport operators and drivers, I think that would be
38:20one of the top priorities for processing.
38:25But the others, as it comes along, we will process it.
38:33There may be some occasions where we need to fast track a particular loan application, especially PO financing.
38:44Because it's time-bounded versus others are time-bounded.
38:48So we'll have to process it ahead.
38:51Otherwise, it will expire the PO.
38:55So my last question now, and this has been a very helpful conversation, not only to me, but I'm also
39:03hoping that it's also just as helpful to our viewers.
39:08Can you invite our would-be entrepreneurs, whether they are in the Philippines or outside the Philippines, or for those
39:17who have existing business, but are already wanting to scale the business?
39:24Okay.
39:27In this time where we have crisis, I think everyone is affected.
39:33The supply chain, our supply chain are being problematic logistics-wise, there's a problem.
39:41So I would like to invite everyone, if you need additional financial support, you can go to SB Corp.
39:51We are a government corporation whose mandate is really for the micro, to assist the micro, small, and medium entrepreneurs.
40:03For our OFWs, we've created this program especially for you and your families.
40:09If you wanted to go into business, or you have an existing business, and you would like to scale up,
40:16you need additional financing, you can visit small business corporations through our website.
40:24We have a website, sbcorp.gov.ph.
40:28You can visit our offices or to the negotiation centers in your areas.
40:35Our business counselors there would be very much willing to assist you.
40:39We are in close coordination with the Department of Trade and Industry.
40:45For our existing MSMEs, this MSME business fund is created especially for you, to help you in these times of
40:55crisis.
40:57Thank you very much for joining us today and hopefully we will have more conversations in the future in case
41:05there will be more programs that SB Corp and DTI are going to roll out to encourage more entrepreneurs for
41:14Filipinos.
41:15And the reason why among the many, I'm enjoying this conversation because Filipinos generally are trained to become very good
41:27employees.
41:27Yes.
41:28But not many just yet are taking it upon themselves to train others or to train themselves to become employers.
41:38And programs offered by SB Corp and DTI hopefully will pave the way for more entrepreneurs and employers in the
41:54Philippines.
41:55So thank you for joining us today.
41:57So through the Department of Trade and Industry, together with Small Business Corporation, the opportunity to begin or to begin
42:05again is being made possible.
42:08To those who are interested, as what Ico said, please get in touch with them through their website, sbcorp.gov
42:16.ph.
42:17You can also visit the DTI Negotiation Centers through their offices in your respective locations.
42:24This has been Beyond the Headlines. I'm DJ Moises. Have a good afternoon.
42:28.
43:00You
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