DTI allocates P2B loan assistance to Kristine-hit MSMEs

INQUIRER FILE PHOTO

MANILA, Philippines — The Department of Trade and Industry (DTI) has allocated P2 billion loan assistance for Micro, Small, and Medium Enterprises (MSMEs) that were affected by Severe Tropical Storm Kristine (international name: Trami).

In a briefing on Friday, DTI Acting Secretary Cristina Roque said registered MSMEs may apply for loans of up to P300,000 through the DTI’s financing arm, the Small Business Corporation (SBCorp).

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The loan has no interest in the first year, and only a one percent monthly interest will apply starting the second year.

“Kahit walang principal payment basta nasalanta ng bagyo, they can avail of this fund. So sa mga negosyo na naapektuhan o negosyante na nag-aalala, please avail of this fund. Punta lang kayo sa sbcorp.gov.ph para maka-register,” Roque said.

(Even without a principal payment, as long as they were affected by the typhoon, they can avail of this fund. So for businesses impacted or business owners who are concerned, please take advantage of this fund. Just go to sbcorp.gov.ph to register.)

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In a statement earlier the day, President Ferdinand Marcos Jr. assured the public that the DTI is monitoring the compliance of sellers with the imposed price control in areas under the state of calamity.

He also directed the DTI to ensure the unhampered flow of goods in all the affected areas.