The Department of Tourism (DOT-6) is encouraging micro, small, and medium enterprises (MSMEs) in Western Visayas to avail of the CARES for Tourism Rehabilitation of Enterprises and Livelihood (CARES for TRAVEL) program to support their businesses and their workers during the pandemic.

The loan program is part of the agency’s efforts to help the tourism industry recover from the pandemic’s impact, the newly installed DOT-6 regional director, Cristine Mansenares, said during an interview on IMT Conversation.

“Ang recovery efforts ang isa nga ginatutukan naton sa subong nga pandemic and we make sure nga makacome up sang precautionary measures in order to survive this pandemic,” she added.

The program gives tourism-related MSMEs access to zero interest, no-collateral loans with a loan term period of up to four years, including a corresponding grace period of up to one year.

Qualified MSMEs only need to pay a one-time service fee to the Small Business Corporation (SB Corp.), the amount of which will depend on the loan term period: 4% for one year; 6% for two years; 7.5% for three years; and 8% for four years.

Applications of DOT-accredited and local government unit (LGU)-accredited MSMEs will be evaluated by the SB Corp. to ensure their eligibility and to determine the loanable amount and terms in accordance with the CARES for TRAVEL program guidelines.

For medium enterprises, the initial loan to be granted is not more than P1 million while small and micro enterprises will be granted of not more than P500,000 and P200,000, respectively.

Applications for a higher loan amount might be approved by the SB Corp, provided that enterprises submit their written plan on how to restart or improve their business models.

Meanwhile, Mansinares, a Negros Occidental native, said the DOT-6 will be a consultative type of agency during her term.

“We need inputs of our stakeholders, local government units, and supporters so that we can hear from them. Sa subong, ang aton nga challenges every now and then is nagakambyo ang quarantine status from time to time,” she shared.

“What we do is ginavisit namon ang amon strategies if it’s effective pa or may mga need nga modify. We virtually managed all our recovery efforts. Ginatan-aw ta nga hopefully, makabangon gid kita. There is hope,” Mansinares continued.IMT