TACLOBAN CITY- Entrepreneurs who have suffered economic losses due to supertyphoon Yolanda are encouraged by the Department of Trade and Industry (DTI) to avail of a financial loan they are offering.
The DTI, through its Small Business Corp. (SBC), is offering financial loan to businessmen under its rehabilitation financing program (RFP). According to Luna Cacanando, SBC officer-in-charge president and chief operating officer, said that out of the P700 million that they have earmarked under its RFP, only P400 million have been released so far. This means, close to 400 small and medium enterprises have availed the loan being offered by the DTI, he said. The DTI targets to release the remaining amount before the end of this year. Cacanando call businessmen still reeling from the economic losses due to Yolanda to avail the loan which offers 8 percent interest, payable in five years and with a grace period of one year after availing it. The official said that the loan application could be secured at the DTI provincial offices. Cacanando emphasized that they are looking for SMEs to avail of their program who in one way or another were able to recover even in small percentage because it is a sign of a true entrepreneurs. Those who were at least able to recover at least 20 percent of their businesses are qualified to avail of the program, he added. (LIZBETH ANN A. ABELLA)