The Department of Trade and Industry (DTI) on Monday said micro, small, and medium enterprises (MSMEs) in seven provinces and 26 municipalities and cities affected by Severe Tropical Storm Kristine (international name Trami) may apply for recovery loans.

In an ANC interview, DTI Acting Secretary Ma. Cristina Roque said that as of Oct. 27, almost 400 MSMEs were already affected by Kristine.

“So, for now, we have the enterprise for rehabilitation fund, which is PHP2 billion, which we are now dispatching to all the MSMEs that were affected by the calamity. This fund, they can get it from the SB Corp. (Small Business Corporation), which is actually the bank that is under DTI,” Roque said.

“There’s actually seven provinces and 26 municipalities and cities that can avail of this loan. Those are the ones that were affected by Kristine,” said Roque.

Among these areas are Albay, Camarines Norte, Catanduanes, Cavite, Camarines Sur, Cotabato, Quezon, Eastern Samar, Calbayog in Samar, and Borongan City in Eastern Samar, among others.

Roque said the loanable amount ranges from PHP10,000 to a maximum of PHP300,000, with zero interest on the first year.

SB Corp. can be reached through their website sbcorp.gov.ph or through their e-mail address [email protected].

The loan may be availed of until the end of the year.

“We are closely monitoring this to make sure that everybody who needs the fund can get it,” Roque said.

Roque said the DTI also intensified efforts in price monitoring and the prevention of profiteering to protect consumers in storm-affected areas. (PNA)