Jinggoy Estrada proposes ‘paycheck protection program’ for MSMEs

MANILA, Philippines — To help micro- small- and medium-sized enterprises (MSMEs) that were severely affected by the COVID-19 pandemic, former senator Jinggoy Estrada wants to institutionalize a ‘paycheck protection program’ once elected to a fresh Senate term.

Originally adopted in the United States and implemented by local government units like Makati City, Estrada said the program provides small businesses with funding support to pay their workers’ salaries including benefits. Part of the funds can also be used to buy supplies and raw materials or pay interest on mortgages, rent, or utilities. The only condition is for business owners to keep their workers employed during the pandemic.

Read more: https://newsinfo.inquirer.net/1560262/jinggoy-estrada-proposes-paycheck-protection-program-for-msmes#ixzz7SzdPHOr2