Coca-Cola PH launches program for MSMEs

COCA-COLA Beverages Philippines Inc. (CCBPI) said it has entered into a partnership with the Department of Trade and Industry's Small Business Corp. (SBCorp) for the RISE UP Tindahan Project in a bid to aid the micro, small and medium enterprises (MSMEs) in the country.

In a statement, CCBPI said the move enables its partner retail stores, dealers, distributors and other MSMEs access to resources that can help them recover from the pandemic.

The company explained that the loans sourced through the project are "meant to help businesses adjust to the realities of doing business in the new normal."

It added that it is targeting the program's amplified reach by leveraging its network.

Chris Pesigan, CCBPI general trade director, said, "The process in RISE UP Tindahan is simple, which is key to reaching more MSMEs."

The RISE UP Tindahan Loan offers a loanable amount of up to P300,000 for micro-tindahan loans (sari-sari stores) and up to P5 million for SME loans (retail stores, dealers and distributors), with three years repayment term inclusive of a grace period of up to 12 months and no collateral required.

"We are proud that, given CCBPI's extensive footprint and expansive trade network, we're in the best position to help in reaching more MSMEs across the country and contribute to truly inclusive economic growth," Pesigan was quoted as saying.

Source: TheManila Times