The Department of Trade and Industry, through the Small Business (SB) Corp., has so far approved almost P5 billion in loans under the Covid-19 Assistance to Restart Enterprises (Cares) program of the Bayanihan to Heal as One Act (Bayanihan 2).
In a statement on Thursday, DTI said the P5 billion microfinancing allotted for the micro, small and medium enterprises (MSMEs) under SB Corp., is nearing full utilization as it has already processed and approved P4.5-billion in loans for 30,408 applications as of June 9, 2021.
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