CEBU CITY: The Small Business Corporation (SBC), the financing arm of the Department of Trade and Industry (DTI), has approved a P100 million loan fund for the egg and tourism industries in Bantayan Island off the northernmost tip of Cebu mainland.
SB Corp. chairman and chief executive officer Ramon Quesada said a part of the budget has been released to identified operators of egg farms and resorts while other loan applications are still being processed.
Quesada said SBC is working closely with DTI 7 regional office in selecting qualified beneficiaries of the direct lending designed for Bantayan industries that had been severely affected by last year’s Super Typhoon Yolanda.
The typhoon wiped out 80 percent of the egg producing farms in Bantayan, which used to produce an average of 1.3 million eggs daily.
Quesada said SBC has already identified at least 50 poultry operators in Bantayan, specifically medium, small and micro players.
He said SBC also released assistance to 10 resorts in Bantayan.