Philippine-Based DTI Unveils Funding Initiative to Aid Aspiring Women Entrepreneurs

• A ₱1-billion loan program is being introduced by the Department of Trade and Industry (DTI) to assist prospective female entrepreneurs
• Diversifying revenue streams for micro, small, and medium-sized businesses (MSMEs) is the initiative's main goal

The Department of Trade and Industry (DTI) will soon introduce a ₱1-billion loan facility to serve as an aid to aspiring women entrepreneurs, part of a more comprehensive effort to increase income opportunities for micro, small, and medium enterprises (MSMEs).

Speaking at the launch of the “Section G: Job Blueprint for Wholesale and Retail Trade” on June 16, DTI Secretary Cristina Roque announced that the initiative will be rolled out by Small Business (SB) Corp., DTI’s financing arm. SB Corp. has earmarked ₱10 billion this year to support MSME loan programs across various sectors, including business expansion, purchase orders, franchising, wholesale, and enterprise rehabilitation.

"This ₱1-billion women's enterprise fund will enable women to begin their own businesses with available loans from SB Corp.," Cristina told an interview. All women in the country who want to put up a business can apply for the loan with no collateral.

Repayment will start in the second year, with flexible options like payment of interest only, principal only, or both. Candidates can avail the loan with a government ID, and approvals could be within a week for eligible candidates.

It coincided with the official launching of the Section G: Job Blueprint, a collaborative undertaking between the DTI, Philippine Retailers Association (PRA), and Supply Chain Management Association of the Philippines (SCMAP). The blueprint seeks to improve competitiveness and resilience in the retail and wholesale industries, which generated approximately 75 percent of the country's ₱20-trillion GDP last year.

A main component of this plan is the establishment of a sari-sari store fund aimed at assisting small store entrepreneurs to go beyond the retail business into services like salons or massage shops for diversified income. "We want them to adjust and diversify," Cristina said. "These stores are the backbone of their communities, and offering service alternatives can keep them profitable even during sales lows."