MANILA — Micro, small, and medium enterprises (MSMEs) affected by Severe Tropical Storm Kristine can avail themselves of calamity loans of up to P300,000 from the Department of Trade and Industry (DTI) to help their businesses recover from the impact of the cyclone.

Tropical Storm Kristine slammed the Philippines last week with heavy rainfall and deadly landslides, knocking out power and affecting thousands of residents across the country, including scores of businesses.

Speaking on ANC on Monday, DTI Secretary Ma. Cristina Roque said that as of Sunday, nearly 400 MSMEs had reported being affected by the storm's devastation. She said the DTI allocated P2 billion for its program to help businesses get back on their feet.

Roque said that small businesses in areas ravaged by the storm can apply for loans ranging from P10,000 to P300,000 by logging in to sbcorp.gov.ph. The loans can be paid for up to a year with zero interest. Loans could be released after seven days from the application, as long as they complete the requirements, she said.

"We are really closely monitoring this and we have to make sure that everybody who needs the fund can get it," Roque said.

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