MANILA - Monde Nissin Corp on Thursday said it signed an agreement with the state-owned Small Business Corp (SBCorp) to give sari-sari stores wider access to loans.
In a disclosure to the stock exchange, Monde Nissin said it was the first SBCorp-accredited FMCG (fast-moving consumer goods) partner for its Sustainable Trade Access to Primary Food and Link to Enterprises).
"STAPLES will provide sari-sari stores who are customers of authorized Monde distributors access to collateral-free and interest-free loans to increase their working capital and help make small businesses more robust especially in the face of the pandemic," the statement said.
Sari-sari stores are the smallest unit of retail distribution in the country, known for selling mostly sachets or single-use quantities of daily necessities.
Monde Nissin products including Lucky Me! Instant Noodles and SkyFlakes Crackers and Fita, among others, are widely available in sari-sari stores nationwide.
SBCorp said large food manufacturers, distributors and suppliers could apply to become an accredited partner for its STAPLES program.
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