Cayetano Pushes Stronger Support for MSEs with Senate Approval of P3 Act

by: Edjun Mariposque

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February 8, 2025

3–4 minutes

Philippines – Senator Alan Peter Cayetano is advocating for stronger government support for Micro and Small Enterprises (MSEs) following the approval of the Pondo sa Pagbabago at Pag-Asenso (P3) Act by the Senate Committee on Trade, Commerce, and Entrepreneurship.

The committee approved Senate Bill No. 2985 under Committee Report No. 528 on February 5, 2025, introducing provisions that expand financial aid and training programs aimed at enhancing MSE operations and capabilities.

“These enterprises employ more than 80% of our workers. If we empower them by offering a loan that still respects their dignity, then this is an effective way to open more opportunities and finally eradicate the chains of poverty that beset a lot of our fellow Filipinos,” said Cayetano.

The P3 Act builds on Cayetano’s Presyo, Trabaho, Kita/Kaayusan (PTK) Program, launched in 2013, which has provided low-interest loans and quick access to capital for thousands of Filipinos, including tricycle and jeepney drivers, farmers, fisherfolk, and market vendors.

Since its inception in 2017, the DTI’s P3 Program has released ₱23.50 billion in loans to 437,561 microenterprise borrowers across the country.

“The heart of this effort is to ensure that no Filipino entrepreneur is left behind. It is time to give them the support they deserve to build businesses that can stand the test of time,” Cayetano emphasized.

With this latest development, the senator remains committed to fostering economic growth and financial inclusivity for small businesses, ensuring that they have the resources needed to thrive.

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