With the governance and leadership of the President Rodrigo R. Duterte, the market economy of the Philippines is expected to unleash potential with the support and assistance to be given to the Micro Small Medium Enterprises (MSMEs).

As a national program the Pondo sa Pagbabago at Pag-unlad (P3) is geared to provide an affordable micro-financing for the MSMEs. Through the participation of microfinance institutions (MFI) and the Small Business Corporation (SB Corp.). Pivotal runs are made in the selected “poorest of the poor” areas in the country where poverty incidence is prevalent. Not to be limited by the initial phase, the highborn program looks forward to raise a P19B financing initiative within the next five years.

The P3 program presents an extra mileage with the providential assistance to make small business sustainable and viable for growth. By nature, it is a capacity-based form of lending to ensure that loan proceeds will be utilized for the intended purpose. At reasonably low interest rate, the loans are made affordable to borrower beneficiaries.

In analysis, the program is an actual observance of Republic Act. No. 3765, otherwise known as The Truth in Lending Act aimed to protect the citizens from the lack of awareness of the true cost of credit to the user. In like manner, the objective in assuring a full disclosure of the cost is supportive in the prevention of the uninformed use of credit that can be detrimental to the national economy.

In line with the program is to neutralize the “notorious” 5-6 lending scheme which has become the run-to-answer for most of our market and street vendors for a long period of time. Such transactions do not contribute to the national revenue being underground economy.

The P3 program not only offers an alternative solution in serving the financial needs of the micro entrepreneurs, but as big push for them to attain and achieve the potential business growth.

Furthermore, the collective organization that serves economic needs of the Filipino makes every cooperative pillar in the country’s economy as imbued in the noble act of delivering service and social responsibility to its members.