SMALL entrepreneurs have received financial support from the city government of Muntinlupa as part of Mayor Jaime R. Fresnedi’s economic agenda to spur trade activities within the locality.
The local chief executive led the recent distribution of checks totaling P1.7 million to the 117 beneficiaries of the Tulong Negosyo program facilitated by the Joint Resource Financing (JRF) at Muntinlupa City Hall in Barangay Putatan.
Such amount is a state-funded zero-percent loan assistance to the city’s budding entrepreneurs for the first quarter of this year.
“The local government is committed to help our MSMEs [micro, small and medium enterprises] and grassroot players making up the totality of Muntinlupa’s economic scene so they can thrive their businesses in the city,” Fresnedi said.
Among the borrowers were two “Muntipreneurs” who received P120,000 loan assistance: Ronalyn Benitez and Joel R. Nueva.
Benitez operates a fish-delivery business and carinderia (small eatery), while Nueva is a sari-sari store and bakery owner.
The Tulong Negosyo program provides monetary assistance without interest from P2,000 to P150,000, depending on the business-capital ceiling and payment record.
Fresnedi believes that financing budding entrepreneurs is one way to address the challenges of urbanization.
To help beneficiaries manage their finances well, they are covered by the Savings Program, which serves as a safety net for their earnings. It gives protection to both clients and the program itself. Per the scheme, 5 percent of the loanable amount will be deposited to a designated bank.
The JRF program extends entrepreneurial education through trainings and other related interventions to ensure sustainability of clients’ businesses. To date, the Tulong Negosyo program has benefited almost 5,600 MSMEs.