Small Business Corporation opens a loan program for micro and small enterprises to help them finance the 13th month pay  of their  employees.

 

Who are qualified:

Micro and Small Enterprises registered under the Department of Labor and Employment (DOLE) Flexible Work Arrangement (FWA). These enterprises are issued a unique Establishment Report System (ERS) Number.

Qualified Enterprises No. of Employees covered
Micro Enterprises up to 9 employees*
Small Enterprises up to 40 employees**

* Per DOLE definition: Micro Enterprises are businesses with 1-9 employees and Small Enterprises are businesses with 10 to 99 employees

** All Small Enterprises may apply for the 13th month loan but the loan facility can only cover up to 40  employees.

 

 

How much is the loanable amount?

The loanable amount shall be computed  at  P12,000 per current  employee multiplied by the number of employees.

 

What are the requirements?

Business Type Loan Amount ID Requirement Registration Requirement Business Permit Requirement
Sole Proprietorship up to  P48,000.00 Government ID DTI Registration 2021 Barangay’s or Mayor’s Permit
  above P48,000.00 Government ID DTI Registration 2021 Mayor’s Permit
Corporation/Partnership up to  P48,000.00 Government ID of authorized representative Secretary Certificate 2021 Barangay’s or Mayor’s Permit
  above P48,000.00 Government ID of authorized representative Secretary Certificate 2021 Mayor’s Permit

How to apply?

You may submit your application  at  www.bayanihancares.ph.