The Department of Trade and Industry (DTI) of the Philippines has announced a new ₱1-billion loan program aimed at prospective women entrepreneurs, expanding its efforts to diversify income opportunities within the micro, small, and medium enterprises (MSMEs) sector.

This announcement was made during the media launch of the Section G: Job Blueprint for Wholesale and Retail Trade on June 16, where DTI Secretary Cristina Roque highlighted the funding as part of a broader strategy to support small business development.

The Small Business (SB) Corporation, the financing arm of the DTI, has earmarked ₱10 billion for MSME loan programs this year.

These financing options encompass a variety of offerings including business expansion, purchase order loans, franchising loans, wholesome loans, and enterprise rehabilitation loans.

Secretary Roque stated, 'Soon I'll be launching a ₱1 billion women's enterprise fund.

So, the women that want to get into business will be able to borrow from SB Corp.' The program is designed to be accessible to all women contemplating starting their own businesses in the country.

Although specific details of the loan program are yet to be fully disclosed, preliminary reports suggest that it may not require collateral, thus eliminating the need for borrowers to secure the loan with a valuable asset.

Loan repayments are expected to start in the second year, with options for borrowers to choose between paying interest alone, principal alone, or a combination of both.

Similar to other financing programs from SB Corp., applicants will reportedly only need to present a government-issued ID to qualify for the loan, with approvals projected to occur within one week for eligible individuals.

On the same day, the DTI officially unveiled the Section G: Job Blueprint in collaboration with the Philippine Retailers Association (PRA) and the Supply Chain Management Association of the Philippines (SCMAP).

This blueprint is intended to serve as a framework to enhance the competitiveness and resilience of wholesale and retail businesses across the nation.

According to government data, the wholesale and retail sector constituted approximately 75 percent of the Philippines' gross domestic product (GDP) last year, valued at ₱20 trillion.

The DTI emphasizes the importance of empowering small retailers, particularly sari-sari stores, to diversify their income streams.

Secretary Roque noted the necessity for sari-sari stores to expand their service offerings, suggesting that owners could diversify into services such as salons or massage therapy, thereby maintaining income levels despite possible sales slowdowns.