LOANS FOR TOURISM RECOVERY AVAILABLE

SOME 30,478 displaced tourism workers and other affiliated sectors in the tourism industry in Pangasinan received financial assistance from the Department of Tourism (DOT).

Tourism Secretary Bernadette Romulo-Puyat said beneficiaries received P5,000 each for the P187.39 million budget from the Bayanihan 2 Act the national government’s economic recovery program to cope with COVID-19 pandemic.

Qualified to receive were workers in hotels/resorts, tricycle and pedicab drivers and massage therapists.

Puyat added that DOT has another P6-billion fund under the Bayanihan 2 available to distressed tourism businesses that need working capital loan.

The loan will be zero-interest, collateral-free, and with a two-year grace period.

Micro, small and medium enterprises (MSMEs) in the tourism industry accredited by the DOT or registered by the Barangay Micro Business Enterprises may apply for the loan not exceeding 15 percent of their annual sales, or 20 percent of asset size.

The figures will be based on the businesses’ financial statements for 2018 or 2019 filed with the Bureau of Internal Revenue (BIR).

The maximum loanable amount for applicants with BIR-filed financial statements is PHP5 million for medium enterprises, PHP3 million for small enterprises, and PHP300,000 for micro-enterprises. (Jerick Pasiliao)

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