DOST to release P6.8-Mfinancial aid for CamNorte
By Rosalita Manlangit
DAET, Camarines Norte --- The Department of Science and Technology (DOST) will release a P6.8-million financial assistance in the first quarter of this year to help eight micro, small and medium-sized enterprises (MSMEs) in Camarines Norte purchase equipment to improve their operations and products.
Science Research Specialist Kurt Robin Jalgalado has said that the eight borrowers are involved in printing business and digital services, with four located in Daet, two in Jose Panganiban, and one each in Labo, and Sta. Elena.

Jalgalado noted that the financial assistance, part of DOST’s Small Enterprises Upgrading Program (SETUP), was approved last year.
He added that the initial tranche will be released on January 23 to three MSMEs in Daet and one in Sta. Elena.
Jalgalado said that SETUP helps businesses use technology to improve operations and products.
Under the program, an MSME can secure a financial assistance of up to P3 million, depending on its business needs.
One of the beneficiaries of SETUP Benny Elevado, 58, from Daet town, owns Digitrend Sales and Services.
He obtained a financial assistance amounting to nearly P2 million in 2018, and P1.8 million in 2023.
Elevado started his business in 2004, producing tarpaulin from his residence.
In 2018, he decided to expand his products to include sublimated polo shirts and T-shirts, borrowing nearly P2 million from the SETUP. With this financial assistance, he purchased a full sublimation machine and an ultraviolet printer.
“The advantage of SETUP is that there is no interest, no collateral required, and has a one-year grace period before monthly payments begin. The repayment period is three years. Most loans, especially those from banks, come with interest,” he said.
As his business grew, he was able to acquire additional equipment for tarpaulin printing and introduced embroidery as a new product line. Again, he borrowed nearly P1.8 million in 2023 to purchase a 12-head embroidery machine and a knitting machine.
Elevado said that these two new units of equipment would significantly speed up the production of embroidered items, especially graduation sashes, during peak seasons.
His current product offerings include tarpaulin production, sublimated uniforms, and embroidered logos and collars.
Starting with an initial capital of P1 million, Elevado has seen his assets grow to P5 million. He employs nine regular staff members and occasionally hires students for part-time jobs during peak periods.
With his income, he is able to cover a monthly financial assistance payment of P49,000, pay his business area rent of P44,000, provide salaries for his employees, and still generate income.
Jalgalado said that entrepreneurs seeking assistance from SETUP may visit their office at the Camarines Norte State College campus. (PIA5/Camarines Norte)
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