The Negros Oriental Chamber of Commerce and Industry (NOCCI) is now processing applications of its micro, small, and medium enterprises (MSME) members who want to avail of a multibillion government loan program.
NOCCI president Edward Du said in an interview with the Philippine News Agency on Tuesday that the initiative aligns with the recent memorandum of agreement signed between the Philippine Chamber of Commerce and Industry (PCCI) and the Small Business Corporation for a PHP7-billion loan program supporting MSMEs.
The PCCI is engaging its network of local chambers nationwide for this arrangement, Du said.
“As a PCCI member, we at NOCCI are committed to helping our members avail of collateral-free loans to help businesses cope with rising costs due to the fuel crisis and inflation,” Du said.
“Our role is to act as a conduit for loan applications, assisting in the validation of the borrowers and endorsing them to SB Corp, through the Department of Trade and Industry (DTI), for easier and faster loan processing,” he added.
Du said that with NOCCI’s endorsement, their members will no longer need to endure long queues at the DTI to submit their applications.
The NOCCI has around 200 members, about half of whom are active and most classified as MSMEs. (PNA)