The city government of Makati continues giving financial assistance to businesses under its P2.5-billion economic relief program to pump-prime the local economy during the pandemic.
On Thursday, Mayor Abigail Binay urged business owners to apply for the P100,000 cash grant ahead of the Dec.31 deadline.
She said over the past two weeks, around 5,000 applications have been received online via the designated website, www.proudmakatizen.com, and are being processed with expediency to provide funding for the salaries of workers and payments to suppliers.
“The Makati Assistance and Support for Businesses (MASB) Program aims to provide recovery funds to businesses, boost the local economy, and promote the employment of Makatizens, especially those affected by the COVID-19 pandemic,” Binay said.
Binay explained that only businesses operating in the city, including branches with head offices outside Makati, and those with a valid business permit for this year with no tax obligations, are qualified to apply for the program.
The financial assistance will be released directly to registered and accredited Makati-based suppliers as payment for goods and services, as well as to employees for their salaries and allowances through drawdowns.
Under the MASB Program, qualified businesses will be entitled to grants ranging from P10,000 to P100,000, depending on the type of business and the number of Makatizens employed by the business.
The guidelines define a “Makatizen” as any person at least 18 years of age who is a resident within the territory of Makati City or in city-run relocation areas in Calauan, Laguna and San Jose del Monte City, Bulacan. He or she must also be any of the following: a Makatizen Card holder, a beneficiary of the Makati Health Plus program (Yellow Card), or a registered voter in Makati.
For small and medium enterprises (SMEs) with special business permits (capital of P50,000 or less), the amount of grant will be as follows: 100 percent owned by a Makatizen, with no Makatizen employee, P10,000; not owned by a Makatizen but with one to two Makatizen employees, P10,000; 100 percent owned by a Makatizen with one to two employees, P15,000; owned or not owned by a Makatizen with more than two Makatizen employees, P20,000.
All other SMEs and businesses that are 100 percent owned by a Makatizen with no Makatizen employee can get P15,000. Regardless of ownership, businesses with one to three Makatizen employees can receive P20,000; with four to six Makatizen employees, P40,000; with seven to nine Makatizen employees, P60,000; with 10 to 12 Makatizen employees, P80,000; and with more than 12 Makatizen employees, P100,000.
According to Binay, there is no minimum period that the qualified business must be operating prior to the submission of the application for the program.
However, after the grant is released, businesses must strictly comply with three conditions for the next two years: 1) They continue to operate; 2) They will not lay off any of the Makatizen employees, and 3) They will comply with the city’s ordinances and safety guidelines.
If a grant recipient violates any of the conditions, Binay said the business is required to repay the amount in full within 30 days.
Failure to comply within the period will result in the cancellation of business permit, and the license will only be renewed upon full payment of the drawdowns.