Ex-OFW borrowed P270,000 from DTI, now a successful entrepreneur

A former Overseas Filipino Worker (OFW) from Saudi Arabia is now a successful entrepreneur in the Philippines after borrowing money from the Department of Trade and Industry (DTI).

Joel dela Cruz Pablo stayed in Riyadh for three years before deciding to return home to the country. Upon his arrival in 2011, he pursued his dream of being a businessman by starting up a small computer shop.

Pablo headed to a DTI office in Dinalungan, Aurora where he resides to register his business.
Eager to grow his business venture, Pablo also attended a seminar on Entrepreneurial Appreciation Course given by the DTI Negosyo Center where he learned how to do business right and legally. And on the first year of operation, his business called IZZY Computer Shop generated P50,000 annual gross sales.

After registering his business, Pablo also sought to expand his business. He then approached the DTI Negosyo Center for loan assistance, and was given P270,000. Pablo used the money to put up another business, JP North Press, that offers printing services.

The following year, he purchased another unit of photocopier for the business and earned an annual revenue of P80,000.

Now, he earns a gross of P100,000 and is thinking of hiring another employee for the printing business to gain more sales in the future. According to a DTI press release, Pablo is happy to see his business doing well and fulfilled that he can contribute to the local city’s economy with his business.

If you’re inspired with Pablo’s success story, here are simple steps how you can avail loan from DTI through their P3 Program:

DTI introduced the P3 program or the Pondo Para Sa Pagbabago at Pag-asenso loan program to help small businesses in the regions to succeed.

It lets small business owners borrow money from the government without collateral.

Its main target beneficiaries include the following:
– Small and micro business owners
– Market vendors
– Cooperative members
– Agri-businessmen

Here are the basic requirements you need to bring:
– Mayor’s permit
– Market clearance
– Business name registration
– Two valid IDs

Upon securing all the requirements, head to a Negosyo Center near you and ask for a P3 program application form.

Submit the filled out form with all the necessary requirements.

The Negosyo Center will assess your application to identify your capabilities of repaying the loan.

Wait for the application to be processed. If approved, your loan may be released thereafter.