Businessmen Can Tap Gov’t Funds For Franchise Capital

Sun Star:

THE government, through the Small Business Corp. (SBCorp.), is making available funds to assist entrepreneurs who want to venture into franchising.

According to Department of Trade and Industry Undersecretary for SME (small and medium enterprises) Development and SBCorp. chairperson Zorayda Amelia Alonzo, SBCorp. has crafted a lending program in 2002 to meet the special needs of the business franchising sector.

The lending program, dubbed SME Financing for Organizationally Competent and Excellent Franchise Businesses (Force), was the initiative of the Philippine Franchise Association (PFA)

Program

“The program is designed for franchisees of franchise-firms that are members of industry associations like the PFA,� Alonzo said during the Franchising Conference at the Waterfront Cebu City Hotel and Casino last Thursday.

Under the SME-Force program, SBCorp. provides credit access to franchisees that are not eligible to secure new or additional financing from banking institutions due to insufficient collateral or other considerations.“Along with other components of the SME agenda, this is our way of encouraging more aspiring entrepreneurs to go into franchising,� Alonzo said.