HB 1490
House·20th Congress·Filed Jul 7, 2025
An Act Further Promoting Entrepreneurship by Strengthening, Empowering, and Enhancing the Financing and Other Support Programs for Micro, Small and Medium Enterprises, Amending for the Purpose Republic Act No. 6977, as Amended, Otherwise Known as the “magna Carta for Micro, Small and Medium Enterprises (Msmes)”
In plain language
The bill seeks to boost the Philippines’ micro, small and medium enterprises by extending mandatory bank lending, creating a new Small Business Corporation with ₱50 billion capital, setting up disaster‑relief funds, lowering permit fees, reserving government procurement and space for MSMEs, and imposing penalties on banks that do not meet a 10 % loan‑allocation target.
Business, Trade and IndustryPublic Works and Infrastructure
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Authors · 2 Representatives
Official sources
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HB01490 · Sources: BetterGov Open Congress, BatasWatch