Makati LGU urges businesses within city to apply for economic recovery assistance

Makati Mayor Abby Binay. File photo / Makati City DRRM Office Facebook

MANILA, Philippines — The local government of Makati City has urged businesses in the city to apply for the economy recovery assistance program that will provide cash grants to businesses depending on how many Makati residents are hired in the company.

Makati Mayor Abby Binay said on Thursday that businesses can receive a maximum of P100,000 under the Makati Assistance and Support for Businesses (MASB) — application for which would end by December 31.

As of Thursday, around 5,000 applications have been received online through the website, and are currently being processed to help fund the salaries of workers and the businesses’ payments to suppliers.

These would in turn help businesses affected by the lockdowns due to the COVID-19 pandemic to recover.

“The MASB Program aims to provide recovery funds to businesses, boost the local economy, and promote the employment of Makatizens, especially those affected by the COVID-19 pandemic,” Binay said in a statement.

According to the Makati City government, only businesses operating in the city along with companies with Makati-registered branches even if their offices are outside the city — provided that they have valid business permit for 2020 and if they have no tax obligations — are qualified to apply for the program.

“The financial assistance will be released directly to registered and accredited Makati-based suppliers as payment for goods and services, as well as to employees for their salaries and allowances through drawdowns,” the city government said.

“Under the MASB Program, qualified businesses will be entitled to grants ranging from P10,000 to P100,000, depending on the type of business and the number of Makatizens employed by the business,” it added.

Residents of Makati or “Makatizens” are categorized as workers aged at least 18 years old, and residing within Makati or city-run relocation areas in Calauan, Laguna, San Jose del Monte City, Bulacan.

“He or she must also be any of the following: a Makatizen Card holder, a beneficiary of the Makati Health Plus program (Yellow Card), or a registered voter in Makati,” it noted.

Makati would also judge the amount that would be given to a business by counting how many “Makatizens” are involved in the business.

For small and medium enterprises (SMEs) with special business permits (capital of P50,000 or less):

SMEs and businesses which are fully-owned by a Makatizen but has no Makatizen employee can get P15,000.  Meanwhile, here are other categories according to possible cash grants, regardless of ownership:

“However, after the grant is released, businesses must strictly comply with three conditions for the next two years: 1) They continue to operate; 2) They will not lay off any of the Makatizen employees, and 3) They will comply with the city’s ordinances and safety guidelines,” Makati LGU said.

“If a grant recipient violates any of the MASB Program conditions, Mayor Abby said the business is required to repay the amount in full within 30 days.  Failure to comply within the said period will result in the cancellation of business permit, and the license will only be renewed upon full payment of the drawdowns,” it added.