The Department of Trade and Industry (DTI) announced the launch of a new loan program aimed at helping businesses affected by Supertyphoon Carina.
The Enterprise Rehabilitation Financing (ERF) program, offered by the government-owned Small Business Corp. (SBC), provides loans up to PHP 300,000 with a three-year repayment period.
The first year of the loan is interest-free, with a 1 percent monthly interest rate applied in the second and third years.
A three-month grace period is available for borrowers if needed.
The program is open to micro, small, and medium enterprises (MSMEs) in various affected regions across the Philippines.
Source : PhilNews24 | August 31, 2024
