Wednesday, December 8, 2021

Save The Children Philippines Lauds Approval Of The Inclusive Education Bill

A step closer! The Inclusive Education Bill is now awaiting the approval of the president to pass it into a law.

Serving In All Sizes: Savemore Introduces New Store Format

If you need something fresh, the new Savemore Express is the answer to that! The new Savemore Express provides the weekely grocery needs of communities with an expanded line of fresh merchandise.

Know More About Ninja Van Philippines’ Commitment To Make Christmas Happen For Filipinos

Through its operational innovations, Ninja Van ensures it has the capacity to serve the upcoming holiday demand.

Mindanao, Steps Ahead In Transport Modernization Thru Bajaj Three-Wheelers

LOOK: Bajaj RE was the first Bajaj three-wheeler well-loved by the Mindanaoans now perfectly used as pampasada.

BDO’s Sustainability Efforts Include Support To MSMEs

BDO’s Sustainability Efforts Include Support To MSMEs

Spotlight

BAJAJ MAXIMA CARGOspot_img

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

Micro, small and medium enterprises (MSMEs) are the hardest hit sector in the country even as they account for more than 90% of enterprises. Called the backbone of the economy, MSMEs provide employment to more than 5.3M Filipinos.

Fully aware of the MSMEs role in the economy, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has stressed the urgency to help MSMEs sustain their businesses so they can continue to provide the essential products and services people use every day.

 

Opportunities for MSMEs

Through the Kabuhayan Loan of BDO Network Bank (BDONB), small business owners can sustain their business operations. MSMEs which have been operating for three years are qualified to apply for a loan amount between PHP 30,000 to PHP1 million, which they can use to increase their inventory of stocks, purchase the needed equipment or assets, or expand the business with another branch in other location.

Ernesto Abad, a micro-enterprise owner from Los Baños, Laguna, was among the thousands who benefited from the Kabuhayan Loan. Through the help of BDONB, he was able to increase his inventory of stocks.

“I did not expect that even during the pandemic, BDONB would offer to lend me the fund I need to buy additional poultry feeds. Closing the store temporarily crossed my mind but I was hesitant to do it since it is my only source of income. The monthly remittance from my wife in Dubai was also affected due to lockdown,” he narrated. Fortunately, he found a partner bank that helped him keep his business running and enabled him to serve the customers in his community who are into poultry farming.

Apart from increasing the inventory of stocks, ensuring accessibility of goods is another concern for small business owners. For Lulu Saquing of Cagayan Valley Region, finding ways to reach her customers is important in this time of pandemic. With the help of the Kabuhayan Loan, she was able to buy a van that enabled her to deliver goods to wholesalers. It also served as a rolling store in her community to reach people with limited mobility.

 

Adjusting to the new norm

In response to the needs of their MSME clients, BDONB, the community bank of BDO Unibank, quickly implemented COVID-19 related safety protocols and periodic antigen tests in the corporate offices and branches to ensure the safety of employees. Clients were assured of continuous financial assistance amid the pandemic.

Account officers met borrowers at checkpoints, towns, or stores to pick up loan document requirements in areas where strict quarantine measures were imposed. Though branches remained open, the BDONB team found ways to adapt to the situation and serve clients who cannot go to banks due to travel restrictions.

BDONB remains committed in providing financial assistance to micro-entrepreneurs and helps MSMEs overcome the effects of pandemic. For those who are interested in applying for Kabuhayan Loan, the list of requirements are listed on their website (https://www.bdonetworkbank.com.ph/) and on their official FB page (https://www.facebook.com/BDONetworkBankPH).

BAJAJ MAXIMA CARGOspot_img

Spotlight

Save The Children Philippines Lauds Approval Of The Inclusive Education Bill

A step closer! The Inclusive Education Bill is now awaiting the approval of the president to pass it into a law.

Serving In All Sizes: Savemore Introduces New Store Format

If you need something fresh, the new Savemore Express is the answer to that! The new Savemore Express provides the weekely grocery needs of communities with an expanded line of fresh merchandise.

Know More About Ninja Van Philippines’ Commitment To Make Christmas Happen For Filipinos

Through its operational innovations, Ninja Van ensures it has the capacity to serve the upcoming holiday demand.

Mindanao, Steps Ahead In Transport Modernization Thru Bajaj Three-Wheelers

LOOK: Bajaj RE was the first Bajaj three-wheeler well-loved by the Mindanaoans now perfectly used as pampasada.

Lifestyle

Entertainment

More Stories

‘Balik Probinsya’ Facilitates Homecoming Of 13 More Families

Three provinces are set to welcome back their residents through the Balik Probinsya, Bagong Pag-asa Program.

Cebu City Eyes ‘Vax At Home’ For PWDs

Cebu City will bolster inoculation efforts for persons with disabilities before the distribution of their financial assistance.

DOH Urged To Revert Mandatory Quarantine To 3 Days

The Department of Health advised reverting to the former regulation before December 15 to allow Filipinos to return home and celebrate Christmas with their families rather than in quarantine camps.

S&R Is Now Available On GrabMart: Your Essentials And Favorites Delivered To You

Your S&R food shopping experience is now made even more convenient and enjoyable with GrabMart!

SMC Completes Vaccination Of Hundreds At Quezon City Jail

Some former Quezon City jail inmates recently went back to the prison facility—but not for any crimes committed.

Travel

Motoring