Dumaguete: The Negros Oriental Chamber of Commerce and Industry (NOCCI) is actively processing loan applications for its micro, small, and medium enterprise (MSME) members as part of a multibillion government loan initiative. This effort aims to provide financial assistance to businesses seeking support amid ongoing economic challenges.

According to Philippines News Agency, NOCCI President Edward Du highlighted that this initiative is in line with a memorandum of agreement recently signed between the Philippine Chamber of Commerce and Industry (PCCI) and the Small Business Corporation. The agreement facilitates a PHP7-billion loan program intended to aid MSMEs across the country. The PCCI is utilizing its expansive network of local chambers to implement this program effectively.

Du emphasized NOCCI's dedication to assisting members in accessing collateral-free loans, which are crucial for businesses struggling with rising costs due to the fuel crisis and inflation. NOCCI's role includes serving as a conduit for loan applications, assisting in borrower validation, and endorsing applications to SB Corp through the Department of Trade and Industry (DTI) to streamline the loan processing experience.

With NOCCI's endorsement, members can avoid lengthy queues at the DTI when submitting their applications. The chamber comprises approximately 200 members, with about half actively engaged and primarily classified as MSMEs.