Department of Trade and Industry Acting Secretary Ma. Cristina Roque said Friday that the agency’s financing arm Small Business (SB) Corp. has available funds worth PHP2 billion that could be disbursed as loans for micro, small, and medium enterprises (MSMEs) that were affected by Severe Tropical Storm Kristine (international name Trami).
In a Palace briefing Friday, Roque said MSMEs can avail of up to PHP300,00 worth of loans from SB Corp.
“We have now PHP2 billion fund for the enterprise rehabilitation financing. So, they can email SB Corporation through their email address and avail of the loan,” she said.
SB Corp. can be reached through their website sbcorp.gov.ph, or through their e-mail address [email protected].
The trade chief said the loan program to help MSMEs recover from damage caused by natural disasters has a zero-interest rate in the first year and only a 1 percent yield per month in the following years of repayment.
Observe price freeze
Roque also reminded establishments to observe price freeze on basic goods.
Under Republic Act 7581 or the Price Act, prices of essential goods should not move upward for a period of 60 days upon the declaration of a state of calamity in an area.
“We are also aggressively coordinating with the supermarkets, convenience stores, small and big grocery markets to make sure that there’s a constant supply of food and constant supply of necessities needed by the people, especially in the provinces and towns that were hit by the typhoon. So we are on top of this,” Roque said. (PNA)
