DTI offers loan for Kristine-affected businesses

Trade and Industry Acting Secretary Ma. Cristina Roque on Friday vowed to assist in the rehabilitation of businesses, especially MSMEs, that will be adversely affected by Severe Tropical Storm Kristine. 

At a Palace press briefing, Roque said the Department of Trade and Industry has allocated P2 billion for the rehabilitation of these enterprises.

''Definitely, a lot of businesses are destroyed; a lot of businesses are affected. So, what will we do after? Sometimes we always think of what happens during the situation but after is also a very important situation that we must look at – which is how do the negosyos be able to move on,'' Roque said.

''So, si SB Corp is an attached agency under the DTI.  Ang Small Business Corporation ay isang bangko na nasa ilalim ng DTI. We have now P2 billion fund for the enterprise rehabilitation financing,'' she added.

Roque said the maximum amount that a person can avail in the loan program is P300,000 per person. She noted that the DTI has simplified the requirements for the individuals who will avail its loan program. 

''Actually, ang mga requirements dito, now that SB Corp is really… we’re really aggressively loaning out money whether nasalanta or hindi nasalanta especially to the small and medium enterprises. We make the requirements not difficult,'' she said.

''Actually, wala ‘tong mga collateral eh, you just have to prove that you have a business that’s ongoing,'' she added. 

The DTI said loan application could be extended up to January 31, 2025. 

It added that at least 102 MSMEs have been affected by Kristine. —AOL, GMA Integrated News