DTI eyes loan assistance to help CNorte to restart biz

By Rosalita Manlangit

DAET, Camarines Norte --- The Department of Trade and Industry (DTI) has provided a list of businesses in Camarines Norte that were affected by Severe Tropical Storm Kristine to its financing arm.

DTI Provincial Director Cristie Rivera said that the Small Business Corporation (SBCorp) is ready to provide loans to help storm-affected micro, small, and medium enterprises (MSMEs) recover.

Rivera said registered MSMEs may apply for loans of up to P300,000 through the SBCorp.

The loan has no interest in the first year, and only a one percent monthly interest will apply starting the second year, she said.

The DTI reported that at least 102 MSMEs in Camarines Norte, primarily involved in manufacturing pastries and native delicacies, were struggling due to the natural disaster, and some needed loan assistance.

One of these business owners is Amelia Galero from Vinzons, who is working to revive her plant that produced pili (nut)- based products.

“My production plant was flooded, I managed to salvage some of my equipment, but my refrigerator and freezer were submerged,” Galero explained.

To restart her business, Galero plans to secure a loan of P100,000 from SBCorp.

She intends to use this loan to purchase a new freezer, trays, and raw materials such as flour, eggs, and nuts.

Galero is optimistic about her recovery, noting that “the demand for native delicacies will increase during the upcoming Christmas holidays.”

DTI post-disaster data indicated that Vinzons had the highest number of MSMEs affected by Kristine, totaling 19 or 18.63 percent. Daet and Paracale each had 13 affected MSMEs, followed by Basud and Mercedes with 10 each.

The estimated damage amounted to P6 million, including submerged raw materials, equipment, processing plants, cottages, display shops, and product spoilage. (PIA5/Camarines Norte)