• NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
Baguio Chronicle
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
No Result
View All Result
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
No Result
View All Result
Baguio Chronicle
No Result
View All Result
Home Business

DTI COVID-19 assistance loans for Cordillera MSMEs reach P184m

Angel Castillo by Angel Castillo
July 9, 2021
in Business, News
Reading Time: 1 min read
5
SHARES
18
VIEWS

OVER P184 million worth of COVID-19 assistance and recovery loans have been distributed by the Department of Trade and Industry Cordillera office (DTI-CAR) to micro, small and medium enterprises (MSMEs) in the region since 2020, DTI-CAR Regional Director Myrna Pablo said on Wednesday.

The interest-free loans were released as part of the COVID-19 Assistance to Restart Enterprises (CARES) program of the DTI-CAR to some 15,567 MSMEs throughout the region.

According to Pablo, the largest portion of the loans have been availed of in Benguet, which accounts for P70 million of the entire loan total across the entire region, which all of the Cordillera provinces have availed of.

ADVERTISEMENT

The interest-free loans are payable over three years, after extensions were implemented to ease the burden on those that avail of the loans in the region.

“The country is still in a pandemic and the market remains unstable. That is why DTI has extended the repayment policy to three years from only one year at the start of the program in 2020,” she said.

The loans have been availed of by nearly 62 percent of the MSMEs registered with the DTI in the region, which currently number approximately 25,000 businesses. 

Of all registered MSMEs, only 35 percent in the Cordillera are operating at full capacity, with 50 percent operating only at partial capacity and 15 percent having closed down since the start of the pandemic.

ADVERTISEMENT
Previous Post

PEZA enters into a partnership with BSU, SLU

Next Post

City plans P45m procurement of electronics for Baguio distance learning

Angel Castillo

Angel Castillo

Angel graduated with a bachelor's degree in Journalism from the University of the Philippines Baguio. As the youngest on the team, he writes on mental health and well being, and the millennial’s point of view.

Related Posts

Majority of children in conflict with the law are male- CSWDO

March 27, 2023

DOT optimistic on Cordi festivals, “revenge tourism”

March 27, 2023

Dung traders in La Trinidad told to lobby for regulation after closures

Baguio calls on private individuals to sell lots for parking, housing projects

Don’t burn garbage and leaves, Baguio Fire warns, as city fires up in only three months

Kalinga indigenous communities petition NCIP-CAR to nullify FPIC, halt damming in Pinukpuk, Balbalan

Latest Stories

New Heights – Millstones and milestones

March 28, 2023

On Point – Flight may equate to guilt

March 28, 2023

Rooster’s Tales – Igorots red-tagged!

March 28, 2023

Baguio Chronicle

 

The Baguio Chronicle is the fastest- growing news publication in Northern Luzon today. It was established on December 6, 2009 in Baguio City.

© 2022 The Baguio Chronicle Website Design and Development by Neitiviti Studios.

No Result
View All Result
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In