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Legal Updates

Legal Updates from MOSVELDTT Law Offices.

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May 3, 2020MOSVELDTT
DBP OFFERS FLEXIBLE LOANS FOR PRIVATE BUSINESSES
The Development Bank of the Philippines (DBP) Rehabilitation Support Program on Severe Events (RESPONSE) provides rehabilitation financing support to public or private institutions located and/or operating in areas declared in a state of calamity. With the entirety of the Philippines placed under a State of Calamity since 16 March 2020 pursuant to Presidential Proclamation No. […]
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May 3, 2020

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MOSVELDTT

DTI Requires Grace Periods For Payment Of Rent By MSMEs

by Lara B. Sanchez MSMEs can get some relief with rent payments under DTI Memorandum Circular No. 20-12, Series of 2020It grants a minimum thirty (30)-day grace period on payment of residential rents and commercial rents by micro, small and medium enterprises (MSMEs) during the period of the Enhanced Community Quarantine (ECQ). The rent covered […]

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May 3, 2020MOSVELDTT

DTI Provides Loan Facility for MSMEs

Microbusinesses can secure a loan of up to P200,000 with interest of up to 2.5% with no collateral requirement. The Department of Trade and Industry’s (DTI) Small Business Corporation instituted the Pondo sa Pagbabago at Pag-asenso as Enterprise Rehabilitation Financing facility which shall be available once community quarantine is lifted. Eligible entities for the Pondo […]