Gov’t taps digital platform for P3 loans for small businesses

The Department of Trade and Industry (DTI) is partnering with PLDT-owned tech firm FinTQ, through Lendr, to provide a digital lending platform where micro, small, and medium enterprises (MSMEs) can avail of the Pondo para sa Pagbabago at Pag-asenso (P3) program.

In photo are (L to R) SBCorp president Ma. Luna Cacanando, DTI undersecretary Zenaida Maglaya, DTI secretary Ramon Lopez, P3 loan beneficiaries Edgardo Waniwan, Angelyn Avila, and Judith Waniwan, Voyager Innovation president and CEO Orlando Vea, and FinTQ managing director Lito Villanueva

“President Rodrigo Duterte always seeks for ways to provide service and assistance to our micro entrepreneurs in the easiest and most accessible way as possible. That’s why DTI tied up with FinTQ to allow MSMEs to access P3 funds through the online platform Lendr,” said DTI secretary Ramon Lopez.

The government, through DTI’s attached agency Small Business Corporation (SBCorp), allocated P1 billion per year to fund the P3 program, which aims to assist MSMEs to grow their businesses through low-interest loans.

Meanwhile, FinTQ will be conducting a financial literacy caravans in three pilot areas of P3 program, namely: Tacloban, Occidental Mindoro, and Sarangani. The caravan will also offer onsite loan application assistance for MSMEs.

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