MANILA — Sufficient capital for small businesses like “balut” vending and shoemaking will be made available should PDP-LABAN presidential bet and Davao City Mayor Rodrigo Duterte and running mate Senator Alan Peter Cayetano emerge victorious in the May 9 elections.
This was stressed by Cayetano during his visit to Metro Manila’s lone municipality of Pateros, the center of the Philippine “balut” industry on Monday.
Lack of capital is slowly killing these businesses as operators have no choice but to resort to the “5-6” lending scheme which is notorious for their extremely high interest rates, putting them deeper in debt.
If elected, Cayetano said he and Duterte will punish all “5-6” loan sharks and provide sufficient capital for “balut” vendors to sustain their trade.
“We will mobilize the national budget and establish a bank that will provide loans and other services to small entrepreneurs, similar to Thailand’s SME Bank,” Cayetano added. PNA/northboundasia.com