Business group appeals to banks to extend payments of Cebu City's SMEs amid ECQ reimposition

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Cebu Chamber of Commerce and Industry president Felix Taguiam appeals to private banks to extend the payments of small and medium enterprises in Cebu City following the re-imposition of enhanced community quarantine

The largest business group in Cebu has appealed to private banks to extend the payments of small and medium enterprises amid the re-imposition of enhanced community quarantine in the area.

Taguiam said CCCI also referred their SME members to the Department of Trade and Industry for assistance to secure small bank loans and help restart their businesses amid the ECQ in Cebu City. Due to movement restrictions, Taguiam noted that most SMEs in the city started moving their businesses online to find a market even during the pandemic.The CCCI head expressed hope that Cebu City will revert to a general community quarantine setting by July 16, as around 60 to 70 percent of the city’s economy depends on SMEs.

 

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