Coca-Cola Beverages Philippines Inc., the bottling arm of Coca-Cola in the country, signed a partnership agreement with Small Business Corp. for the RISE UP Tindahan Project as part of the campaign to help uplift micro, small and medium enterprises.
The initiative gives CCBPI’s partner retail stores, dealers, distributors, and other MSMEs access to resources that can contribute to their recovery from the effects of the pandemic, said CCBPI general trade director Chris Pesigan.
“We share the vision and commitment of Small Business Corp. to uplift our retail partners as we make these sustainable financing initiatives more accessible to many. We are proud that, given CCBPI’s extensive footprint and expansive trade network, we’re in the best position to help in reaching more MSMEs across the country and contribute to truly inclusive economic growth,” he said.
The RISE UP Tindahan Project upholds CCBPI’s “People First” commitment of looking after its people and the communities it serves, as project beneficiaries can enjoy greater accessibility to sustainable financial loan programs that can encourage job creation, livelihood initiatives and business growth.
The partnership with SBCorp, the financing arm of the Department of Trade and Industry, manifests the collective, urgent goal of helping the MSME sector recover, stabilize and progress. It allows the RISE UP Tindahan Project to reach more Filipino households across the country.
As an industry leader in manufacturing, CCBPI sets the benchmark in the FCMG sector in terms of distribution and trade network.
SBCorp executive vice president Santiago Lim said the agency sees the collaboration with CCBPI as an opportunity to extend the services of the agency to thousands of partner enterprises of the company from distributors to retailers nationwide.
“Reaching out to the far ends can be a daunting task, but since we have Coca-Cola now as our partner, with your seasoned experience on the ground, we are confident that this project will be successful,” Lim said.
SBCorp is a government financial institution mandated to provide financing initiatives for MSMEs across all regions of the Philippines. As guided by its 2025 vision, SBCorp operates to be the leader in sustained financing alternatives for Philippine MSMEs, putting them at the forefront of inclusive economic growth.
Its mission, to which RISE UP Tindahan is anchored on, is to fight for the neglected business segments of the country to get them access to the capital they need to grow.
The loans sourced through the RISE UP Tindahan Project are meant to help businesses adjust to the realities of doing business in the new normal. Additional funds can help MSMEs cope with rising consumer demand as the economy slowly opens back up again.
SBCorp’s initiative of going into online application process has been a success, with around 40,000 applicants over the past two years. CCBPI is targeting the program’s amplified reach by leveraging its vast trade network, and now SBCorp is bridging gaps to meet the needs of micro-entrepreneurs.
“The process in RISE UP Tindahan is simple, which is key to reaching more MSMEs. We need to overcome the challenge of inaccessibility, and part of this is making sure that procedures aren’t overly complicated—that MSMEs don’t feel intimidated or overwhelmed,” Pesigan said.
For the benefit of MSMEs, the process for applying for a loan has been made more convenient and easy through RISE UP Tindahan. The RISE UP Tindahan Loan offers up to P300,000.00 for micro-tindahan loans or sari-sari stores and up to P5 million for SME loans for retail stores, dealers and distributors. Loans are payable in three years, inclusive of a grace period of up to 12 months with no collateral required.
As catalysts of bringing MSMEs at the forefront of the growing business sector, the purposeful partnership of CCBPI and DTI SBCorp leads in equipping micro-entrepreneurs with the resources to recover and thrive in an increasingly competitive landscape.