SMALL BUSINESS CORPORATION

RISE UP  PROGRAM

FREQUENTLY ASKED QUESTIONS

GENERAL

  1. Who is the Small Business Corporation or SBCorp?
  • SBCorp is a government financial institution administratively attached to the Department of Trade and Industry
  • Mandated under Republic Act No. 6977 (amended by RA 8289 and RA 9501) to engage in development initiatives in finance and business technologies for micro, small and medium enterprises (MSMEs)
  1. What are SBCorp’s target segments?
  • MSME stands for Micro, Small and Medium Enterprises and they are categorized based on asset size, as follows:

 

Enterprise Category

Asset Size

Micro

Not more than P3.0 Million

Small

Over P3.0 Million but not more than P15.0 Million

Medium

Over P15.0 Million but not more than P100.0 Million
  • Priority segments
    • Micro and small agri and aqua enterprises
    • Micro retailers
    • Small island economies
    • MSMEs requiring rehabilitation arising from disaster
    • Indigenous people (IP) – owned enterprises
    • First-time small businesses

 

THE RISE UP PROGRAM

  1. What is RiseUP Program?

               RISE UP is a loan program that aims to sustain the gains of MSMEs that have survived the past two years of                  pandemic by providing multi-purpose loans that have soft terms and can be easily accessed.

 

  1. What are the sub-programs under the Rise Up Program and who are the eligible borrowers?

Program

Eligible Borrowers

RISE UP Multi-Purpose

 

Multi sectoral MSMEs including existing borrowers of SBCorp

 
   

RISE UP Tindahan

Sari-sari stores, retail stores, dealers and distributors under the network of partner FMCGs

 

 

  1. Who are eligible to apply for a loan ?
  • Must be Filipino-owned or 60% Filipino-owned for partnerships and corporations
  • Must have an asset size of not more than P100M exclusive of the land on which the business is situated;
  • Must have a business track record of at least 1 year; and
  • Must have no past due account under any SBCorp programs and no major negative credit findings
  1. How much is the loanable amount per program?

Program/Sub Programs

Basis of Loanable Amount

Max. Loanable Amount

Multipurpose

Micro

Up to 40% of existing business asset

 

May be up to 50% of value of existing assets in case of fixed-asset acquisition (but not to exceed 80% of purchase price)

 

Up to P300 Thousand

First Time Borrowers

20% of prior year sales based on BIR-filed FS.

In case of fixed-assets acquisition, may be up to 50% of value of existing business asset but not to exceed 80% of purchase price

P3.0 Million

Suki

Re-availment of latest approved loan minus outstanding balance

 

May be up to 20% of prior year annual sales

 

In case of fixed-asset acquisition, maybe up to 50% of value of existing business assets but not to exceed 80% of purchase price

 

Up to P5.0 Million for clean loans

 

 

Up to P10.0 Million for REM-secured loans
 
     
     

Tindahan

 

 

Micro

40% of annual sales with FMCG

 

Up to PhP 300.0 thousand

 

SME

40% of annual sales with FMCG for retail stores

15% of annual sales with FMCG for dealers and distributors

 

Up to PhP 5M

 

 

  1. How to apply?

Step 1. On your internet browser type www.brs.sbcorp.ph

Step 2. If you are new with SBCorp, create an account by clicking on the “create new account “button (green button). For exiting borrowers, log-in using  your existing email and password.

Step 3. Once account is created, on your dashboard click on the apply for a loan button

Step 4. From the program menu choose the loan program you want to apply.

  • If your business is more than one year and your required loan amount is up to PhP 300.0 thousand click on the RiseUp Multi Purpose Micro button
  • If your business is operating for more than two years and your required loan amount is more than P300.0 thousand click on the RiseUP MultiPurpose First Timer button
  • If you are an existing borrower of SBCorp with at least  6 months repayment track  record click on the RiseUP Suki button
     
     

 

  • If your business is a sari-sari store retail store, or engaged in dealership and distribution under the network of SB Corp’s partner FMCGs, click on the RiseUp Tindahan button

Step 5. Accomplish the application form and attach the necessary documentary requirements.

Step 6. Review attached documentary requirements and click the submit application button.

 

  1. What are the documentary requirements?

 

Program/Sub Programs

Basic Documentary Requirements

Additional Requirements during Financial Assessment

Multipurpose

Micro

· Government-Issued ID

· Barangay Permit/ Certification for loans not more than PhP100 thousand

· BMBE Certificate or Mayor’s Permit for loans more than PhP100 thousand

· Three Photos1  of business operations and assets

· Corporate documents if applicable

 

First Time Borrowers

· Government-Issued ID

· BMBE Certificate or Mayor’s Permit

· Pictures  of business operations and asset;

· Corporate Documents, if applicable

· Proof of sales including bank statements

· Proof of value of fixed asset/s to be acquired (in case of fixed asset acquisition

· BIR-filed Financial Statement for prior year reflecting positive income and for earlier two (2) years

Suki

 

· Proof of Sales including bank statements;

· Proof of Value of Asset in case of fixed asset acquisition;

·  BIR-filed FS (a must for loan exceeding P3.0M);

· Proof of ownership and of government valuation of real estate asset that will secure the loan

 
 
     
     

Tindahan

 

 

Micro

Government-Issued ID;Barangay Business permit for loans up to PhP 100.0 thousand; BMBE Certificate or  Mayor’s Permit for loans more  than PhP 100.0 thousand; Pictures and video on business operations and asset; Corporate documents, if applicable ; and FMCG Reference Number

 

 

SME

Government-Issued ID;Mayor’s Permit; Corporate documents (i.e. Secretary’s Certificate); Pictures aof business operations and asset

FMCG Accreditation Number; and Proof of Asset Size not exceeding PhP 100M

 

 

 

  • What are the three photos required?
    • Business Signage
    • Inventories
    • Fixed Asset

 

            6.3 Corporate Documents

  • Secretary’s Certificate (for partnerships and corporations only) which authorizes the president or CEO or managing partner to borrow under the loan program on behalf of the corporation or partnership, respectively.

Latest General Information Sheet (for Corporations) and Articles of Partnership (for partnerships)

  • For loans above PhP500k, DTI Certificate of Registration or SEC Certificate of Registration

 

  1. What are the loan repayment terms?

Program/Sub Programs

Loan Repayment Term

Multipurpose

 

Micro

 

Payable monthly for up to 3 years inclusive of grace period

 

First Time Borrowers

Suki
   
 
 

Tindahan

 

Micro

 

Payable monthly up to three years inclusive of grace period

 

SME

 

  1. How long is the grace period?

Program/Sub Programs

Grace Period

Multipurpose

 

Micro

Up to 12 months at fixed three-month intervals, i.e., 3, 6, 9, 12 months – on the principal only but should not exceed 50% of the loan term

 

First Time Borrowers

Suki

Tindahan

Micro

· Maximum of 12 months (3,6,9 or 12 months options); PRINCIPAL ONLY

 

SME

· Maximum of 12 months (3,6,9 or 12 months options); PRINCIPAL ONLY

 

 

  1. How much is the interest/service fee?

Program/Sub Programs

Interest Rate/Service Fee

Multipurpose

 

Micro

12% per annum based on diminishing balance*

First Time Borrowers

12% per annum based on diminishing balance*

Suki

8%- 12% per annum based on diminishing balance*
   
 
 

Tindahan

Micro

· 10% p.a. Interest Rate based on diminishing balance exclusive of DST

 

SME

· 8% p.a. Interest Rate based on diminishing balance exclusive of DST

 

 

*As required by the BIR, documentary stamp tax (DST) is collected which is computed based on total loan amount divided by P 200.00 multiplied by tax factor of 1.5. 

 

  1. How do we pay the interest during the grace period for MultiPurpose Loan?

Interest during the grace period and service fees shall be payable by the loan applicant in advance and shall be deducted from the loan proceeds

Multipurpose Loan

 

 

Grace Period

Interest Rate Payable in Advance

 

Micro

SME

Suki

0

Not applicable

Not applicable

Not applicable

3

2.5%

2.5%

2.5%

6

5.0%

5.0%

5.0%

9

7.5%

7.5%

7.5%

12

10%

10%

10%

 

 

 

 

 

 

Tindahan

 

Grace Period

Interest Rate Payable in Advance

0

Not applicable

Not Applicable

3

2.0%

1.5%

6

4.0%

3.0%

9

6.00%

4.5%

12

8.0%

6.0%

 

 

 

 

  1. How do I pay for the service charge and DST?

DST is also deducted from the loan proceeds.

 

  1. Does the RiseUP Loan require collateral?

RiseUp loans up to P5 Million do not require collateral. However, loans under the RiseUP Suki loans more than P5 Million require proof of ownership and of government valuation of real estate asset that will secure the loan.

 

  1. Does the RiseUp Loan require issuance of post-dated checks (PDCs)?

Yes, the program will require PDCs for loans more than P 150,000.00, and such may be:       (1) a guaranty check covering the full amount and dated on the first amortization due date, or (2) a complete set of post-dated checks which cover all the monthly amortizations

 

  1. Can a senior citizen above 65 years borrow under the program?

Yes, even a senior citizen may borrow but a Co-borrower is required.

 

  1. Who can be a co-borrower, and what is/are the requirement/s?

For sole proprietorships: A Co-borrower is required for borrowers aged 65 years old and above. The co-borrower may be part of the business with age not more the 60 years old.

For partnerships and corporation, a joint and solidary signature (JSS) agreement shall be required.

 

  1. How is my loan processed?

A loan application undergoes the following steps:

  1. Business Information Assessment: SBCorp validates the owner and business info or data based on submitted documents for correctness and proper identification

      An intervening Period of Correction for document re-submission may follow:  SBCorp informs the borrower of documentary deficiencies or need for data correction

  1. Credit Standing Assessment: SBCorp checks the borrower’s credit dealings or histories with other financing institutions
  2. Financial Performance Assessment: SBCorp assesses the financial performance and condition of the MSME to determine operational sustainability, capacity for repayment, and basis for credit decision
  3. Credit Approval/ Disapproval: SBCorp through its authorized signatory or the Credit Committee approves or denials a loan application

 

  1. How will I know if I passed all the steps?
  • If a borrower passes the Credit Standing Assessment, the loan application will be forwarded to the team who conducts the validation of documents. If a borrower has adverse or negative credit finding, he or she will be advised to submit either the proof of full payment or settlement agreement or affidavit of denial.
  • The borrower will receive an automated email notification on the results of the steps 1 and 2.  The results related to step no. 2 may pertain to lacking requirements, need to correct or edit borrower data. 
  • The loan application, if there is no finding related to steps nos. 1 and 2, will be forwarded to the financial performance assessment team (now step no. 3) for loan evaluation and credit recommendation. At this point, a borrower may call the SBCorp call center for the status his or her loan application.

 

  1. When I received an email notification on data or information that needs to be edited or lacking requirement that needs to be submitted, where and how do I correct the data or submit the requirement?
  • Follow the instructions stated in the email you have received from SBCorp
  • Log-in to your BRS account using your verified email address and password
  • In case, a borrower encounters a problem with his or her email account or password, he needs to choose “Change password” and follow the steps that appear on the screen.
  • Correct the data or information that needs to be edited and/ or upload the required document.
  1. Can I just submit the required document through email?
  • Submission of physical document required or submission of the same by email is discouraged.   The loan process will proceed only upon completion of all required documents into the system
  1. How will I know the status of my application?
  • Log-in to your BRS account using the verified email address and password and look for the status of your loan application in the SBCorp loan dashboard
  • Send an email to sbcorporation@sbcorp.gov.ph follow-up
  • Call the hotline : Phone:  5328 1100 to 10 and 5328 1112 to 16 Local 1753 and 1731
  1. If my application is “Approved”, what will be the next steps for loan release?
  • Your approved loan is good for the next step which is Loan Documentation. SBCorp Loan Releasing Team will prepare the loan documents (promissory note, disclosure statements, etc.) for your signature.
  • An SBCorp field staff will coordinate with you for the signing schedule and submission of pre-loan release requirements and your designated account
  • After signing the loan documents, release of the loan proceeds will be processed, which takes three (3) to five (5) days from date of signing
  1. How is the loan going to be released to the borrower?

The net loan proceeds (Less: service fees and DST) shall be released through the submitted account of the borrower, which maybe any of the following:

  • Fund transfer to borrower’s account with the Land Bank of the Philippines (LBP)
  • Credit to borrower’s bank account through Pesonet.
  • Electronic Money Account – G-Cash
  1. How do I pay my monthly loan amortization?

You can pay your monthly amortization through any of the following:

  1. On-Line Payment

Visit www.landbank.com and click LANDBANK Liz.Biz.Portal

  1. G-Cash
  2. Payment Centers
  • Any Bayad Center Outlet nationwide
  • Any Palawan Pawnshop and Palawan Express PeraPadala Outlet (excluding Palawan Express PeraPadala Partners/Authorized Agent)
  • USSC