The micro financing program called “3P” or the Pondo sa Pagbabago at Pag-asenso Program is a program by the Department of Trade and Industry (DTI) which aims to help the poor overcome poverty by giving them the opportunities to start their own business.

According to DTI, the program is designed to provide loans at reduced interest rates and is a counter to the 5-6 money lending scheme, which is popular for its very high interest rates.

If you would also want to engage in business but do not have access to credit, here are the things you need to know about availing of this loan.

• You need to show your valid ID’s and a proof of your small business at any P3 accredited partners namely Cebuana Lhuillier Finance Corporation, Taytay sa Kauswagan, Inc. (TSKI), Center for Agriculture and Rural Development, Inc. (CARD), Tulay sa Pag-unlad, Inc. (TSPI), National Confederation of Cooperatives, Inc. (NATCCO), Radiowealth Finance Company, Inc. (RFC), and Mindanao Alliance of Self-help Societies, Inc. (MASS-SPEC).

• You will have to fill out an application form, and will also have to undergo an interview so as to get more of your personal information. As soon as your application gets approved within the day, you will also be able to get your loan in the same day.

• The loanable amount ranges from 5,000 pesos up to 300,000 pesos. You will not be required to have any collateral and the interest rate can reach only up to 26 percent per year. This means that this is significantly lower than the interest rates being charged by 5-6 money lenders. It is also even lower than the interest rates charged by micro financing institutions.

• The target of the said program is the poor provinces in the Philippines, and if you need to know more information, you can visit the DTI office near you.

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The agenda of this program is promote and strengthen the entrepreneurship here in country and also to give full employment from different sectors including the manufacturing, agri-fishery, Information Technology-Business Process Management (IT-BPM), tourism, retail trade and construction.

This government program is very helpful for those aspiring entrepreneurs who wanted to learn and of course for those job seekers out there.

Here is the list of schedule of TNK Jobs and Business Fairs.

CB Mall UrdanetaNepo Mall Dagupan, PangasinanCandon Civic Center, Candon City, Ilocos SurManna Mall, San Fernando City, La Union​

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Philippines and avoid any violation uncalled for. If you want to begin putting up a business, a brilliant concept will be excellent, but you want to also know how to register your business.

Read also How to Register Business Name Online

1. Determine the type of business you want to start because there are different agencies who can assist you depending on your business. For sole proprietorship, you should go to the Department of Trade and Industry (DTI), for cooperatives, it should be the Cooperative Development Authority (CDA) and Securities and Exchange Commission (SEC) for partnerships, as well as corporations.

2. The next step will be securing your business permit. You can apply for the permit and license of your business in the city where your business will be located. There will be a number of agencies and sectors where you will have to secure your clearances from, depending on the type of your business. For example, you would like to start a restaurant or a café, so that means your business will fall under the category of food and cosmetics, and it means you need to get the clearance from Food and Drugs Administration (FDA). If you want to have a day care or preschool, then you must secure the clearance from Department of Education (DepEd).

3. The next step will be your registration in the Bureau of Internal Revenue (BIR) office in the same city where you will be having your business. You can visit and inquire for the requirements specific to your business type.

4. Comply with the requirements of the existing offices. You will also have to secure and submit the requirements of offices such as Social Security System (SSS), Philhealth, PAG-IBIG, Department of Labor and Employment (DOLE), Department of Environmental and Natural Resources (DENR) and others.

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Registering your business with the Department of Trade and Industry seems to be tedious as it involves many tasks. The good thing is that you can spare yourself from the long lines because you can do the registration process online.

If the business is conducted through sole proprietorship, then it should be registered with the DTI. There are things to consider when registering the business names as follows:

• The proposed name should not be offensive or scandalous
• Similar to an existing registered business and should not infringe any trademark
• Purely of geographic or generic words
• Used to distinguish or designate
• Should not be misleading or misrepresent the true nature of the business

Steps to register business name online

1. The first step is to log in to business.gov.ph/web/guest/pbr-registration and the page of Acceptance of BNRS Terms and Conditions will open. Read and understand everything before clicking “I Agree”.

2. As you proceed, you’ll be required to choose the coverage of your venture under the Business Scope either barangay, city, regional or national. The fee varies depending on the scope you’ve chosen.

3. Under the “Check Name Availability”, you will indicate the proposed business name. This will help you know if there’s no duplicate or similar name.

4. In case there’s no similar name, the next step is filling out the “Owner’s Details and Residence Address” box. Make sure that all the required fields are completed.

5. Next, you will choose the “Payment Method” such as DTI’s e-Payment facility, Bancnet or GCash. You also need to download the method you want to receive the business name certification from DTI. Check everything to ensure that all information is correct and accurate.

6. After downloading the e-copy of your certification, take note of the Transaction Reference Number Acknowledgment as you’ll need it when you pay online.

7. Click the “Online Payment” and settle your fee through your chosen facility. Print the DTI Certificate and the registration receipt. Otherwise, the certificate is void without the receipt.

The business name registration certificate is one of the requirements in securing business permits and clearance in the barangay and city where your business is established.

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