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
** Small Enterprises with more than 99 employees may apply for the 13th month loan but the loan facility can only cover up to 40 employees. Enterprises with more than 99 employees are required to submit their BIR-filed financial statements to proved that their asset does not exceed P100.0 M
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.
