Philexport says SME exporters can tap interest-free gov鈥檛 loans for shipping costs
The Philippine Exporters Confederation, Inc. (Philexport) said Friday听that听SB Corp. is providing a 鈥渜uick-response fund鈥 for small exporters whose operations have been affected by the government鈥檚 community quarantine rules.听
鈥淪mall and medium-sized enterprises (SMEs) with at least one听year鈥檚听experience in export transactions can apply for interest-free government loans to meet their shipping freight costs requirement,鈥澨齈hilexport听said in a statement.听
Lourdes Rosario鈥疢.鈥疊aula,鈥痟ead of the Financing Sector of SB Corp., acknowledged that the increase in freight rates and cost of raw materials resulted in an increase in total production cost.听
鈥淓xporters have to compromise their profit margin to meet export sales targets听and keep their businesses afloat,鈥 she said.听
SME exporters are those with assets听of听between听P3 million and P100 million.鈥听
They must听also be able to show听at least three consummated purchase orders or letter听sof听credit,听Philexport听said.听鈥撎Arjay听L. Balinbin听
