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Gov't offers MSMEs loans for workers' 13th month pay
Gov't offers MSMEs loans for workers' 13th month pay
Vivienne Gulla,
ABS-CBN News
Published Dec 02, 2022 06:24 PM PHT
A worker arranges lanterns on sale in a market in Quezon City on Sunday. Mark Demayo, ABS-CBN News
MANILA — Government is again offering a loan facility for micro, small and medium enterprises (MSMEs) having difficulty providing the mandatory 13th month pay to their employees.
The Department of Labor and Employment (DOLE) announced on Friday that MSMEs could borrow up to P15,000 each for a maximum of 40 workers from the Small Business Corporation (SB Corp), an agency of the trade department.
Labor Secretary Bienvenido Laguesma said the zero-interest loans required no collateral.
The loan is a "recognition" that there are companies still recovering from the COVID-19 pandemic despite the easing of restrictions, he said.
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Laguesma reminded employers that there are no exemptions from the mandate to give 13th month pay to qualified workers no later than Dec. 24.
"Mayroong isang batas na nagsasabi na kung unjustifiable ang kanilang refusal, puwedeng ma-doble ang amount na 'yun. Pagkatapos ng proseso 'yun," he said.
(There is a law that says if the refusal is unjustifiable, the amount can be doubled after the process.)
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