- Coca-Cola Philippines partnered with the Department of Trade and Industry (DTI) to offer loan package to micro, small and medium businesses, particularly sari-sari stores and eateries
- Under the ReSTART program, it will grant P10,000 loan packages which comprises 60% goods and products and 40% cash
- The beverage giant said they recognize the significant role that micro-retailers play in helping sustain the Philippine economy and their business
Coca-Cola Philippines partnered with the Department of Trade and Industry (DTI) and two micro-finance institutions to offer loan assistance to sari-sari stores and carinderia owners to help them recover from the financial impact of the COVID-19 pandemic.
In a statement released by the Coca-Cola Philippines, the beverage giant said they will allocate and distribute P157 million in funds to more than 15,000 retailers affected by the health crisis in the country.
Together with the DTI, ASA Philippines Foundation Inc. (ASA), and Alalay sa Kaunlaran Microfinance Social Development Inc. (ASKMSDI), Coca-Cola Philippines established “ReSTART or Rebuilding Sari-Sari Stores Through Access to Resources and Trade program.”
Under the ReSTART program, it will grant P10,000 loan packages to micro, small, and medium enterprises (MSMEs), particularly sari-sari stores and carinderias. The loan offer aims to help these affected retailers recover from the impact of lockdown and resume their businesses.
The loan package comprises 60% goods and products and 40% cash, with up to four loan cycles with a 0% to 0.5% service fee to be availed.
Coca-Cola said they will also provide “Safe Store” kits against the spread of COVID-19. The kits will contain a storefront plastic cover, reusable face mask, face shield, and a change/counter tray for the retailers.
“Coca-Cola recognizes the significant role that micro-retailers play in helping sustain the Philippine economy and our business. For the past decade, we have been supporting partner sari-sari store owners through a holistic economic empowerment program; and we are determined to continue investing in them in the long run,” Winn Everhart, Coca-Cola Philippines president and general manager said.