Small entrepreneurs in Manila get P26-million loan

MANILA, Philippines — The Manila city government has released P26 million in loan assistance to vendors and other small-scale businessmen.

Mayor Joseph Estrada said the recipients of the program recently graduated from the Manila Manpower Development Center.

“They can use the money as initial capital to start their own businesses,” Estrada said.

The cash assistance ranged from P5,000 to P15,000 payable monthly, without interest.

 Estrada initiated the capital assistance program to help poor residents to put up their own ventures.