Council increases loans for “responsible” entrepreneurs in the city of Mati
CITY OF DAVAO — The eastern coastal town of Mati, Davao Oriental, increased the amount “responsible” entrepreneurs could get from the city government to P200,000.
Mati’s local government unit, through its city council, also retained its zero interest policy for loans originally offered when the first stimulus fund of 12 million pesos was launched.
The city government clarified that only responsible businesses could benefit from the loans, as it required potential borrowers to present proof of their audited financial statements, tax returns and business plan to which the money would be spent.
The Sangguniang Panlungsod of Mati City last month doubled the maximum loan amount when it revised the original series of Municipal Ordinance No. 463 of 2020 which created the Tabang Aron Tubagon Ang Krisis sa Mga Negosyanteng Responsabli (Help dealing with the responsible business crisis) or Tatak 2020 MRN Program Ordinance.
The current set of municipal ordinances 481 of 2021 revised last year’s offer from just 10,000 pesos to 100,000 pesos the amount loanable to businesses that have been affected by the community quarantine.
The city’s information office said the new provisions of City Ordinance No.481 “now allow sole proprietorship companies, associations registered in government units and companies registered no later than December 2020 to be borrowers qualified to benefit from the Tatak MNR program ”.
“The gross sales affidavit is also added to the loan requirements, with the exception of photocopying audited financial statements and / or tax return for the business and the operator within the past one to three years. . In addition, Municipal Ordinance No. 481 will increase the maximum amount of loanable money for the program to P 200,000, ”he added.
He said the loan “remains at zero percent interest and approval still depends on the business plan and the operator’s ability to pay.”
By the end of May, some 73 borrowers had obtained the loan, and the city has so far released 5.2 million pesos. The Tatak MNR still has 6.8 million pesos in funds available. Interested borrowers can get information from the Office of Commerce, Industry, Investment, Development and Promotion located at the Town Hall.
Meanwhile, the city has started offering its own “Mati’s Choice Chicken” at three stalls in Mati’s Public Market at P160 each.
“It is a great help for Mati people so that they can buy chicken cheaply in the midst of the pandemic and they can taste the fresh chicken produced by Mati farmers themselves,” the city councilor said. and chairman of the agriculture committee Eric Rabat.
The supply of Mati’s Choice chicken was still limited, however, with only 1,500 bags per week and limiting each customer to just two bags of chicken.
The limited supply is due to the ongoing construction of the chicken dressing plant in Sudlon, the information office said.
Mati’s Choice Chicken is a private sector initiative produced by Farmers Choice Agri Trading, the office said. He added that the producers have asked the city government to help them in promoting poultry.
“The private sectors came up with this idea to help deflate the price of chicken. There is no government intervention here. Every time you buy Mati’s Choice chicken, you are helping a farming family, ”added Rabat.