‘Mini-DTIs’ installed in northern Cebu-A A +A
Tuesday, August 19, 2014
FIFTEEN local government units in the northern towns of Cebu can already get direct access to the Department of Trade and Industry’s services with the installation of Business Assistance Centers (BAC) or “mini-DTIs” in Yolanda-affected areas.
DTI Cebu business development chief Elias Tecson said the formation of BACs is meant to fast track the agency’s rehabilitation and recovery programs and facilitate the needs of local entrepreneurs after their businesses were devastated when the super typhoon struck in November last year.
Tecson said BACs will operate inside city or municipal halls. Each BAC will have DTI personnel assigned to facilitate support services related to rehabilitation and recovery of local business.
“The BACs that we have is a partnership of DTI with the LGUs in northern Cebu,” he said.
Five BACs were installed in northern Cebu. These include Sta. Fe BAC, which will also serve the island of Bantayan and the town of Madridejos; Bogo City BAC, which will also serve Medellin and San Remegio; Daan Bantayan BAC, which will also serve Malapascua; Sogod BAC, which will also cover Tuburan, Tabuelan, Borbon and Tabogon; and San Francisco BAC, which will also serve Camotes Island, Poro and Tudela.
The DTI programs that will be coordinated by the BACs are bottom-up budgeting (BUB), shared services facilities (SSF), streamlining of business permits and licensing system (BPLS), industry clustering/value chain mapping, green growth and disaster resilience and building local competitiveness and investment promotions.
In addition, Tecson said that its financing arm Small Business Corp. (SB Corp.) already released P79 million for northern Cebu as of July 31 this year.
SB Corp is conducting enterprise rehabilitation financing (ERF), wherein it provides loans of a minimum of P50,000 for poultry and tourism-related businesses in northern Cebu. It offers an interest rate of six percent per annum with a grace period of one year.
Resorts are popular in northern Cebu but these were destroyed by supertyphoon Yolanda. The calamity also wiped out 80 percent of the egg producing farms in Bantayan, which used to produce an average of 1.3 million eggs per day.
To expand its assistance, Tecson said SB Corp came up with the second phase of ERF 2, wherein it opened the financing service to businesses across all sectors situated in northern Cebu.
ERF 2 will offer a minimum loan amount of P200,000 with an eight percent interest rate per annum and a grace period of nine months.
Published in the Sun.Star Cebu newspaper on August 20, 2014.