DTI Extends Lifeline to Businesses Devastated by Typhoon Carina

The Department of Trade and Industry (DTI) has launched a loan program specifically designed to aid businesses affected by Supertyphoon Carina. The government-owned Small Business Corp. (SBC) has introduced the Enterprise Rehabilitation Financing (ERF) program, providing up to P300,000 in loans for eligible MSMEs. This program is intended to assist businesses in repairing or replacing damaged assets, recovering from operational disruptions, and addressing revenue losses. Loans are interest-free for the first year, followed by a 1% monthly interest rate on a diminishing balance basis for the subsequent two years. Borrowers are also eligible for a three-month grace period on payments. The ERF program is available to MSMEs in select areas, including Metro Manila and several provinces that were severely impacted by the typhoon.