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Muntinlupa City

Muntinlupa extends zero-interest loans to entrepreneurs

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Muntinlupa City has extended P5.8 million worth of zero-interest loans to hundreds of budding entrepreneurs in the city.

A total of P5.8 million were given to 208 beneficiaries of the Tulong Negosyo program by the local government which committed “to support” the small-time businessmen in the city.

“Tulong Negosyo is Muntinlupa City’s program that caters to small-time entrepreneurs (SMEs) through providing them with financial assistance ranging from 2,000 up to 150,000 pesos. It depends on the business capital ceiling and payment record,” the public information office (PIO) said.

Mayor Jaime Fresnedi, who led the distribution at the Muntinlupa City Hall last week, said that the local government “vows to support” them through additional capital loan assistance and other capacity building training.

“[It is] for them to thrive their business in the city,” he added.

The Tulong Negosyo program has three categories, the PIO said. These include the Simulang Kapital (SIKAP) Pangkabuhayan, which offers a loan capital of P10,000-75,000; the Asenso Loan Program, which offers a loan capital of P75,000-100,000; and the Maunlad Loan Program, which offers a loan capital of P150,000-300,000.

Tez Navarro, PIO chief, said that the payment term for the loan depends on the amount borrowed, with one year as maximum time given and zero interest.

The loan assistance program also incorporates a savings program to teach the small-time entrepreneurs “about the importance of economizing, and serve as protection to the clients and the program,” the PIO said.

“Entrepreneurial education through training and other related interventions have [also] been implemented for them,” the PIO added.

The program is being facilitated by the Joint Resource Financing Department, which partnered last month with Technical Education and Skills Development Authority (TESDA) and other private companies to conduct a series of business lectures for Tulong Negosyo beneficiaries.

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Muntinlupa Mayor Jaime Fresnedi (left, front row) leads the distribution of the zero-interest loan assistance amounting to P990,000.00 to representatives of the 28 Tulong Negosyo Batch 116 beneficiaries last September 23. Muntinlupa City is the first LGU to introduce the micro-financing program which provides zero-interest loan assistance which ranges from 2,000 up to 150,000 pesos to budding entrepreneurs dubbed as Munti-preneurs.%uFFFDFresnedi vows to continue the program and assist Muntipreneurs especially in the time of the COVID-19 pandemic. Muntinlupa City is hailed the countrys Most Business-Friendly LGU in 2017-2018 by the Philippine Chamber of Commerce and Industry.

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