DTI Region 11 offers financial assistance to 8,496 MSMEs

Jun. 14, 2023
davaotoday.com file photo

DAVAO CITY, Philippines – The Department of Trade and Industry (DTI) Region 11 is giving financial assistance and introducing e-commerce for micro, small and medium-sized enterprises (MSMEs) in the region to help small businesses bounce back from the pandemic.

Jenny Grace M. Mendoza, Regional Information Officer, and Knowledge Management Coordinator said that coming from the pandemic, MSMEs had experienced lack of sufficient funds for their business which the DTI is now addressing through financial assistance and other related programs.

“That’s why our financing arm, the small business corporation, has various financing programs for our MSMEs,” Mendoza added.

The regional agency has so far reached 31% or 8,496 MSMEs in Davao region as of April 2023, and has provided 461 MSMEs of loans amounting to P59,076,565.64 for various livelihood and income-generating projects.

DTI has also established 53 Negosyo Centers across the region that provides capacity and product development opportunities, and so far has assisted 10,233 clients.

The figures are still far from their target of reaching out to 27,000 registered MSMEs in Davao.

Other aspects where the DTI is assisting MSMEs are training for e-commerce and digitalization where small businesses can maximize online platforms for selling their products and services.

The DTI has also offered its Kapatid Mentor ME (KMME) Program in partnership with e Philippine Center for Entrepreneurship-Go Negosyo to increase the entrepreneurial capacity of MSMEs through improved access to mentorship, money, and market. (davaotoday.com)

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