The Provincial Government of Ilocos Norte (PGIN) through the Micro, Small and Medium Enterprises Office (MSMEO), will once again launch the “Micro-Financing for Micro and Small Enterprises (MSEs) Most Affected by the COVID-19 Pandemic” assistance program for micro and small entrepreneurs in the province.
The micro-financing assistance program, which aims to provide cost effective, fast approval financing with minimal requirements, and zero interest rate loan for qualified MSEs, was first launched in October, 2020, to mitigate the impacts of COVID-19 in the local economy.
“Magsisimula ulit ang application sa January 18 hanggang February 15 ngayong taon para sa mga interested borrowers. Among the requirements na kailangan nilang i-accomplish ay ang Loan Application Form, one (1) valid Government issued ID, photocopy of valid ID of borrower and co-borrower, proof of business address, Barangay Business Certification/ Business/Mayor’s Permit, DTI Registration, and latest Audited or In-House Financial Assistance or Proof of Income,” MSMEO Officer Ms. Elma O. Gabriel stated.
Local entrepreneurs can borrow a loan amount from P10,000 up to P200,000 based on their asset size or the MSE category they belong to, with maximum of twelve (12) months term of loan.
Almost 30 micro and small entrepreneurs whose application were pre-approved with loan assistance last year, will receive their grant in February, 2021.
The Provincial Government, particularly the Provincial Employment Group continues to create programs that would help stimulate the economy and expedite the recovery of business owners in the province. – Stewart C. Ocampo, PGIN-CMO