TAPI Provides Solutions for MSMEs’ Financial Needs

edwardmarc1Thanks to the assistance of the Department of Science and Technology-Technology Application and Promotion Institute (DOST-TAPI), that Edward Marcs Philippines, Inc. (EMPI), one of the leading companies in the renewable energy industry, headed by its President, Ms. Ma. Miranda C. Cordova,isassured that they will be able to serve their clients’ orderson time.

Last February 2016, TAPI provided P2,000,000 financial assistance to EMPI to realize their projects with the Landbank of the Philippines and the Bureau of Jail Management and Penologyfor the installation of a 4.8 KW Photo Voltaic/Solar Panel On-grid Type; and with the Municipality of Digos, Davao del Surfor the installation of solar lamp posts and street lights.With this intervention from TAPI, EMPI is expecting to ensure liquidity for on-time completion of projects, maximize production capacity, meet the expected sales revenue valued at P6,862,696.24 and generate net income amounting to P1,764,637.24. It was the third time that EMPI was able to receive financial assistance from TAPI under its Purchase Order Financing Facility. The first and the second funding with total amount of P4,000,000 were utilized to cover the cost of raw materials for the production of solar-assisted air conditioning units for Bali Suite Hotel, La Traviesa Resort, Smart Telecom, and Cebu Iwakami.Both projects were successfully implemented and completed.

edwardmarc3TAPI’s Purchase Order Financing Program is designed for enterprises that are assisted under DOST and TAPI major Programswho are into manufacturing of products in line with the DOST priority areassuch as: food processing;furniture; gifts, housewares, and decors; marine and aquatic resources; horticulture and agriculture; metals and engineering; health products and pharmaceuticals; and information communications technology and electronics.

For inquiries, contact the Investment and Business Operations Division (IBOD) of TAPI at telephone number 8376186. (Mylene A. Alano)


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