Coke, SB Corp. tie up opens credit line to MSMEs, SMEs

Coca-Cola Beverages Philippines Inc. (CCBPI)—bottling arm of soda manufacturing giant Coca-Cola—recently signed up a partnership with the Department of Trade and Industry’s (DTI) Small Business Corporation (SB Corp.) for the RISE UP Tindahan Project to help the country’s micro, small and medium enterprises (MSME) expand their businesses. 

“We share the vision and commitment of the Small Business Corporation to uplift our retail partners as we make these sustainable financing initiatives more accessible to many. We are proud that, given CCBPI’s extensive footprint and expansive trade network, we’re in the best position to help in reaching more MSMEs across the country and contribute to truly inclusive economic growth,” CCBPI General Trade Director Chris Pesigan said in a recent webinar.

Pesigan explained the program enables CCBPI’s partner retail stores, dealers, distributors, and other MSMEs access to resources that can contribute to their recovery from the effects of the Covid-19 pandemic. He noted the RISE UP Tindahan project upholds CCBPI’s “People First” commitment of looking after its people and the communities it serves, as project beneficiaries can enjoy greater accessibility to sustainable financial loan programs that can encourage job creation, livelihood initiatives, and business growth. 

Moreover, the collaboration with the SB Corp. signifies the collective, urgent goal of helping the MSME sector recover, stabilize, and progress. As an industry leader in manufacturing, Pesigan stressed that CCBPI sets the benchmark in the fast moving consumer goods (FMCG) sector in terms of distribution and trade network.

Meanwhile, the partnership with SB Corp. and CCBPI’s established relationships with MSMEs, allows the RISE UP Tindahan Project to reach more Filipino households across the country.

“We, at Small Business Corporation, are very much thankful for this opportunity to partner with the Coca-Cola Beverages Philippines Inc. as we reach out to more and more entrepreneurs down to the roots of our communities, not only here in the Metro, but also to the rest of the provinces. Reaching out to the far ends can be a daunting task, but since we have Coca-Cola now as our partner, with your seasoned experience on the ground, we are confident that this project will be successful,” Santiago Lim, EVP and COO of Small Business Corp. said. 

The loans sourced through the RISE UP Tindahan Project are designed to help businesses adjust to the realities of doing business in the new normal. Additional funds, for example, can help MSMEs cope with rising consumer demand as the economy slowly opens up again. SB Corp.’s initiative of going into the online application process has been a success, with around 40,000 applicants over the past two years. CCBPI is targeting the program’ broader reach by leveraging its vast trade network, and now SB Corp. is bridging gaps to meet the needs of micro-entrepreneurs. 

“The process in RISE UP Tindahan is simple, which is key to reaching more MSMEs,”Pesigan explained.

 “We need to overcome the challenge of inaccessibility, and part of this is making sure that procedures aren’t overly complicated—that MSMEs don’t feel intimidated or overwhelmed,” Pesigan pointed out.

For the benefit of MSMEs, the process for applying for a loan has been made more convenient and easy through RISE UP Tindahan. Those interested in applying can easily do so through www.brs.sbcorp.ph, with call center hotlines at 8651-3333 (NCR) and 1-800-10651-3333 (nationwide).

The RISE UP Tindahan Loan offers a loanable amount of up to P300,000 for micro-tindahan loans (sari-sari stores), and up to P 5 million  for small and medium enterprises (SME) loans (retail stores, dealers, and distributors) with three years repayment term inclusive of a grace period of up to 12 months and no collateral required. 

Qualified for the loans are micro, small, and medium businesses (sari-sari stores, retail stores, distributors, etc.) under the FMCG-accredited partner. Applicants must also be ready with documents such as their barangay business permit and government-issued IDs, among others. The loan application will undergo credit, business, and financial assessments. Applicants will then be contacted via email regarding the results of each stage. 

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