The P10 billion (US$188 million) financial credit assistance made available by the government for small- to medium-size enterprises (SMEs) expires on June 30, but only 20 registrants from the Davao region have applied so far.
SMEs will only pay nine per cent interest if they apply on or before the deadline.
After June 30, applicants will have to pay a higher interest rate, according to Department of Trade and Industry (DTI) city director Paolulo Pasawa
About P66 million worth of investment projects are currently under evaluation by a number of banks to qualify for the P10 billion credit assistance.
The amount covers 26 project proposals, Pasawa added.
Currently, only about P5.9 billion of the total budget has been released to SMEs nationwide, with P1.3 million going to Region XI.
