DTI-CAR warns public against loan scammers

BAGUIO CITY – The regional Dept. of Trade and Industry warned the public certain groups and individuals are posing as legitimate representatives of financial institutions doing business in this city offering loans with low interest but are actually a scheme to prey on gullible residents.

Myrna Pablo DTI-Cordillera regional director said the government agency and its financing arm, Small Business Corporation (SB Corp) do not send out agents to process identification cards and list registrants for loan applicants under the Pondo sa Pagbabago at Pag-asenso (P3) program.

The SB Corp said they only recognize government issued IDs as proof of identification

The P3 is a funding program that provides microenterprises an alternative source of financing that is easy to access and made available at a reasonable cost.

This program is meant to boost the development of the MSME sector, particularly microenterprises that comprise about 90% of registered enterprises in the country.

Interested entrepreneurs, for queries may visit the Small Business Corp. North Luzon with office address at Unit 2A, Jesnor Bldg, 1 Carino Corner Otek St., Baguio City or call Tel No. (074) 424-7647.