By Eileen Mencias<\/p>\n
The Department of Trade and Industry (DTI) has launched a \u20b11-billion Youth Enterprise Fund offering collateral-free loans of up to \u20b1500,000 to Filipinos aged 18 to 30 who want to start or expand a business.<\/p>\n
Trade Secretary Cristina Roque said the program is intended to address financing constraints faced by young entrepreneurs.<\/p>\n
\u201cThere are a lot of young people who have good ideas, talent, hard work and a strong heart. But most of the time, they have one problem. Where will they get their first? That is why today we are launching the Youth Enterprise Fund,\u201d Roque said.<\/p>\n
Under the program, eligible borrowers may take out loans ranging from \u20b130,000 to \u20b1500,000 without collateral.<\/p>\n
The loans carry a one-year grace period on principal and interest, with repayment spread over three years. Applications will open on July 27 through the Small Business Corp. mobile application.<\/p>\n
Roque said the fund is aimed at encouraging young Filipinos to pursue entrepreneurship. \u201cWe often hear this, you are never too young to dream big and never too early to begin,\u201d she said.<\/p>\n
DTI said applicants may also seek assistance through its 18 regional offices and 1,600 Negosyo Centers nationwide.<\/p>\n
Roque urged borrowers to use the financing to build viable businesses and create employment.<\/p>\n
\u201cUse the funding wisely. Build businesses that solve real problems, create jobs, support your families and help your communities. You are also helping build the future of our country,\u201d she said. \u201cThe next big Filipino business can start with you.\u201d\u2014Bilyonaryo.com<\/p>\n","protected":false},"excerpt":{"rendered":"By Eileen Mencias The Department of Trade and Industry (DTI) has launched a \u20b11-billion Youth Enterprise Fund offering…\n","protected":false},"author":2,"featured_media":820361,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[45,49,48,137],"class_list":["post-820360","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entrepreneurship","tag-business","tag-ca","tag-canada","tag-entrepreneurship"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/820360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=820360"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/820360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/820361"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=820360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=820360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=820360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}