THE Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), reported that its revenues in 2024 exceeded P1 billion, its first time to breach the billion-peso mark.
SBCorp reported that last year’s revenues more than doubled from the pre-pandemic level of P359 million.
Operating income also grew to P431.1 million in 2024 from P228.6 million in 2019.
“(W)e believe that [the] corporation’s performance in 2024 signals a new chapter of growth and financial sustainability,” SBCorp President and Chief Executive Officer Robert Bastillo said. “We have weathered the storm of the pandemic, much like the MSMEs (micro, small and medium enterprises) we have assisted.”
The SBCorp also launched new loan facilities for 2025, including Purchase Order Financing and the Business Expansion loan.
Under the Purchase Order Financing, MSMEs can borrow from P30,000 to P20 million, with only a 1-percent monthly interest rate. The short-term capital financing can be used to pay for purchase orders under the following categories: Top 5,000 Corporations of the country, industry anchor firms and franchisors, and foreign companies importing products from registered Philippine companies.
On the other hand, the Business Expansion loan program provides P50,000 to P3 million, with flexible payment terms of up to three years, for MSMEs to address their growth challenges due to capitalization.
“Loan repayment comes with a zero-percent interest rate for the first 12 months, followed by a monthly interest rate of 1 percent based on a diminishing balance for the remaining months,” SBCorp said.
For newly established ventures, the program provides a grace period of 12 months.
This year, the SBCorp is allotting P1 billion for Business Expansion Financing and P500 million for Purchase Order Financing.
It is also allocating P2 billion for Enterprise Rehabilitation Financing, P1 billion for Franchise Funding, P3 billion for Regular Business Program, P200 million for Receivables Financing, Creative Industry Fund for P500 million, and P500 million for Halal Financing. (PNA)
