The Department of Science and Technology (DOST) in Negros Occidental recently revealed they have P12.6 million in loan assistance set to be distributed to six local firms for the purpose of providing the companies a means to upgrade their facilities and purchase equipment.
DOST provincial director, Engr. Allan Francis Daraug, said the funding is provided through the Small Enterprise Technology Upgrading Program (SETUP) and SETUP-Innovation System Support Fund (ISSF) Assistance.
He noted, the funds are expected to be paid back within three years.
According to Daraug, priority fields for the program include food processing; furniture; gifts, décor, and handicrafts; aquatic and marine; horticulture/agriculture; metals and engineering; information and communications technology/electronics (ICT); and health products and pharmaceuticals./WDJ