MANILA, Philippines — The government has extended the grace period for the payment of loans to distressed tourism micro, small and medium enterprises (MSMEs) as other terms for soft loans were further relaxed, the Department of Tourism (DOT) announced on Thursday.
The DOT said the Department of Trade and Industry’s (DTI) Small Business (SB) Corp. has extended the grace period of the interest-free soft loans to two years from one year, along with other relaxed terms under Bayanihan 2, the government’s pandemic recovery program.
The relaxed terms also allowed the second round of loans to help tourism enterprises retain their employees, according to the agency. Busines…
Keep on reading: Tourism business loans payment extended, terms more relaxed — DOT