TAGUM CITY, Davao del Norte, January 20 (PIA) - - The Department
of Trade and Industry in Davao del Norte acquired the highest number of micro,
small and medium enterprises (MSME) facilitated for financing, among other
provinces in the region.
Romeo Castañaga, provincial director of the DTI Davao del Norte,
revealed in an interview that through their efforts in reaching out with the
business sector, they have not only surpassed their target for 2014 but also
topped other provinces in its access to finance program.
According to the DTI report, 159 MSMEs in the province accessed a
total of around P 18.33-million loan through their partner agencies.
The identified partners were Small Business Corporation (SBC),
Bank of Makati (BoM), Land Bank of the Philippines (LBP), Saint Mary’s College
– Business Resource Center, Babak Market Vendors Association and Panabo
Business Center Multi-Purpose Cooperative.
The report also stated that 97% of the MSMEs or 154 enterprises
availed loans from the micro-finance companies; however, the amount of loans
from this sector only covered 21% or about P3.93-million.
The report added that only a small number of MSMEs have bigger
assets and income, which had qualified to avail loans from financial
intermediaries like the LBP, SBC and BoM; while majority of them have smaller
assets availed in the micro-financing companies as these organizations have
less stringent requirements.
Dir. Castañaga also disclosed that another foundation has
expressed its willingness to assist MSMEs in giving finances and trainings for
this year.
“We are currently arranging the program modules of the said
foundation so that it will fit the needs of people in the province,” he added.
He also stressed that their office is now professionalizing the
MSMEs by providing them training on how to effectively run their business.
“We want them to continue their business in a proficient and
effective way especially in handling their finances,” he said. (PIA11, Michael
Uy)
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