MANILA, Philippines – Tourism Secretary Bernadette Puyat has urged more tourism companies to take advantage of interest-free subsidized loans under the Bayanihan Act 2 to help them recover from the pandemic.
Puyat said the government has extended the repayment grace period to two years to help affected people maintain operations and their workers.
She added that the terms of the loan were also relaxed to encourage more micro, small and medium-sized businesses in the tourism sector to benefit from the loan facility managed by the Small Business Corp. of the Department of Commerce and Industry.
The relaxed terms also allow for a second round of employee retention loans and a maximum loan of P5 million. —TINA G. SANTOS
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