Mega partners with RiseUp to help sari-sari stores secure business financing – Manila Bulletin

Left to right: Robert Bastillo, Group Leader, Innovation and Advocacy Group, SBCorp; Santiago Lim, executive vice president and chief operating officer, SBCorp; Marvin Tiu Lim, Director of Growth and Development, Mega Global; and Joseph Pardo, Director of Sales, Mega Global Corp.

Sari-sari shops are an important part of Filipino culture. Throughout the archipelago, from the most remote provinces to urban centers, thousands of shops provide Filipinos with easy access to their daily needs: from canned goods to cold bottled drinks, toiletries and even school supplies, list is endless.

At the same time, these sari-sari shops are the main source of income for countless enterprising Filipinos and have kept the wheels of the local economy turning. However, the microentrepreneurs behind these sari-sari shops often have limited funds to expand their businesses.

Recognizing the important role of sari-sari shops in the lives of Filipinos, Mega Sardines, the #1 sardine brand in the Philippines, has partnered with Resilient, Innovative and Sustainable Enterprises, Unleash your Powers or RiseUP Tindahan, a government program which aims to help micro, small and medium enterprises recover from the pandemic by offering interest-free, collateral-free loans from the Small Business Corp., the finance arm of the Department of Trade and Industry (DTI).

RiseUP Tindahan, which offers up to P300,000 in loans, has two programs: Micro-Tindahan Loans for sari-sari shops with FMCG accreditation; and SME Tindahan Loans, for FMCG-accredited retail stores, resellers and distributors.

To help Mega-accredited sari-sari store owners qualify for funding under the RiseUP Tindahan program, Mega will pave the way for accreditation by providing historical purchase data, a key requirement that
will help them get loan approval. In doing so, Mega will help sari-sari shop owners meet program requirements, knowing that they often struggle with documentary requirements.

Driven by the core business value of malasakitMega aims to strengthen its position as an industry leader through community efforts and initiatives like this.

“Mega believes in RiseUP’s goal to help sari-sari shop owners recover from the pandemic and bounce back stronger. We deeply appreciate our sari-sari store partners and distributors, and would like to show our support by helping them with their loan accreditation requirements. By doing so, we can all rise stronger and better together,” said Marvin Tiu Lim, Chief Growth and Development Officer of Mega.

Throughout the pandemic, Mega has worked to help reinvigorate the Philippine economy, working closely with partners to deliver meaningful assistance where it’s needed most.

SUBSCRIBE TO THE DAILY NEWSLETTER

CLICK HERE TO JOIN