The Department of Trade and Industry (DTI) recently launched the Enterprise Rehabilitation Financing(ERF) Program through the Small Business Corporation to support businesses impacted by Typhoon Kristine. Targeting micro, small, and medium enterprises (MSMEs), the program offers financial relief for exporters and other businesses seeking to rebuild and strengthen their operations post-disaster.
With a budget of Php 2.0 billion, the ERF Program offers substantial benefits to exporters. For the first year, the financial aid includes a zero-interest provision. In the succeeding second and third years, the remaining balance will have a 1% monthly interest rate. A three-month grace period is also available, allowing borrowers a temporary break from payments.
To apply, exporters need to submit the necessary documents: for new borrowers with loans exceeding Php 100,000.00, they must submit either a Mayor’s Permit or a barangay micro business enterprise (BMBE) certificate, while loans up to Php 100,000.00 require barangay certifications, government ID, proof of a bank or e-money account, and any applicable corporate documents. To make the application process more efficient, exporters may apply through the online loan portal at https://brs.sbcorp.ph.
The ERF program permits exporters who have experienced setbacks due to Typhoon Kristine to access crucial funding, stabilize their operations, and rebuild for long-term success. With this support, Philippine exporters can maintain their contributions to the national economy and reinforce resilience amid challenging times. KFOS