Mayor Vico Launches Interest-Free Loan For Economic Recovery

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The Pasig City government has officially launched its Tulong at Pampuhunang Ayuda sa Taga-Pasig (TAPAT) program which will offer loans to job seekers, entrepreneurs and businesses starters in the city.

Mayor Vico Sotto said the city government has allotted a PHP200-million budget to provide financial loans to about 20,000 to 40,000 residents of Pasig.

The TAPAT program offers small loans that could help sustain the economic recovery of the city and its residents, Sotto said.

There are three types of loans with no interest under the TAPAT program — Balik Negosyo, Bagong Negosyo and Balik Trabaho.

Sotto said under the Bagong Negosyo and Balik Trabaho loan offers, the local government prioritizes individuals who are economically-hit by the health crisis since the implementation of the enhanced community quarantine (EQC).

“Kailangan walang trabaho at wala pang business sa kasalukuyan. Una nating dapat tulungan ang mga natanggal sa trabaho o no work, no pay simula ECQ (the beneficiaries must be unemployed and no business at present. We must help first those who have been laid-off to their jobs or no work, no pay since the ECQ started),” Sotto said in a Twitter post.

The Bagong Negosyo offers a loan amounting to PHP10,000 for displaced workers who wish to start a small business during the coronavirus disease 2019 pandemic.

The Balik Trabaho, on the other hand, offers a PHP5,000 loan to displaced workers who are now looking for a new job and in need of financial assistance to complete their application requirements.

Under the Balik Negosyo, the local government offers a loan amount of PHP10,000 for entrepreneurs who are in need of financial resources to modify their micro, small and medium enterprises. The loan offer can also be used by the business owners to comply with the required minimum health standard and safety measures against the spread of the coronavirus disease (Covid-19) in the city.

The Pasig City government urged interested residents to apply via

For further inquiries on the processes, Sotto said the applicants may also visit the TAPAT Help Desk located at the Career Center, GAD Compound, Pasig City Hall.

“Pero hangga’t kaya, sa online na tayo mag-apply, para mas ligtas tayo sa virus (but as much as possible, you may apply via online in order for us to be safe from the virus),” Sotto said. “First-come-first-served ang processing ng mga aplikasyon (the processing of applications is first-come, first-served).”

On the other hand, Sotto said the Pasig Covid-19 Referral Center is now operational to conduct its own electrochemiluminescence immunoassay (ECLIA), a method used in the antibody test for Covid-19.

He added the reverse transcription-polymerase chain reaction testing will start next week. (PNA)

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