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