Small business owners in Iloilo City, particularly those with limited capital, will soon have access to government-backed loans under a new program funded initially with P3 million.
The Iloilo City Council has approved the UNA Credit Access for Resilient Enterprises (CAREs) Ordinance, which Mayor Raisa Treñas said aims to help small and nano entrepreneurs start or sustain their businesses.
“From the start, gusto ko gid nga may programa kita nga makabulig sa aton mga Ilonggo nga may negosyo ukon gusto magsugod sang ila kaugalingon nga pangabuhian, pero limitado ang kapital,” Treñas said in a Facebook post.
Aside from access to credit, beneficiaries will receive business training, financial literacy sessions and mentoring to help them manage and grow their enterprises.
Treñas said the program was designed not only to help Ilonggos start businesses but also to give them the support they need to keep them running.
The mayor thanked Councilor Rudolph Ganzon and the other city council members for supporting the ordinance.
Treñas said she would sign the measure as soon as it reaches her office so its implementation could begin at the earliest possible time.IMT
