DTI launches digital lending platform

To reach more micro, small and medium enterprises (MSMEs), the Department of Trade and Industry (DTI) has announced the creation of a digital lending platform where Filipino entrepreneurs can avail the Pondo para sa Pagbabago at Pag-asesnso (P3) program.

DTI Secretary Ramon Lopez said on Friday that the initiative, which would be done in partnership with FINTQnologies (FINTQ), aims to provide assistance to MSME’s in an accessible manner.

“President Rodrigo Duterte always seeks for ways to provide service and assistance to our micro entrepreneurs in the easiest and most accessible way as possible. That’s why DTI tied up with FINTQ to allow MSMEs to access P3 funds through the online platform Lendr,” Lopez said.

FINTQ owns Lendr, an online-based loan service application.  Through the app, possible candidates can apply for low-interest loans from Small Business Corporation (SBCorp), a DTI-attached agency.  SBCorp has allocated P1 billion to support the P3 program.

Financial literacy caravans will also be conducted by FINTQ in Tacloban, Occidental Mindoro, and Sarangani, the three pilot areas of P3 program.  Onsite loan applications will also be available during the event.         /muf