DBP extends loan to women entrepreneurs

Posted on . Filed under SME InitiativesUseful Articles. Be the first to comment.

The Development Bank of the Philippines (DBP) has granted a Php5 million credit facility to Earth Life Store Supply, Inc. (ECHO Store), a corporation run by a team of women who call themselves “Power of Three Women”. The credit facility shall be used to partly finance the company’s working capital to sustain its growing operations and the expansion needs of its branches. The ECHO store is the first of its kind in the country to position green products, specialty market segment. The store sells product that are environment-friendly, organic, and promote healthy lifestyle. Its product line includes gifts, fashion and décor items, body care products, biodegradable home cleaning solutions, beverages, and books.

This credit facility is supportive of DBP’s Inclusive Lending for Aspiring Women (ILAW) entrepreneurs program which aims to empower women entrepreneurs, help business grow beyond micro credit, create more jobs, and tap into the network of women’s organizations. In May 2015, ILAW program was awarded a plaque of merit during ADFIAP Awards for its significant contribution to the nation’s socio economic, technological and human development efforts.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.