With the passage of  Republic Act  (RA) 11494 – Bayanihan Act to Recover as One,   SBCorp was directed to provide stimulus funding to MSMEs, cooperatives, hospitals, tourism and OFWs especially those affected by the COVID-19 pandemic and by other socio-economic reversals.

The Bayanihan CARES Program finance MSMES to restart their businesses and retain their employees. Under the program, the Department of Tourism (DOT) and the Small Business Corporation (SB Corporation) signed a Memorandum of Agreement (MOA) for the CARES for Tourism Rehabilitation and Vitalization of Enterprises and Livelihood ( CARES for TRAVEL) program that will extend loan assistance to micro, small, and medium enterprises (MSMEs) from the tourism industry.

Through the DOT and SB Corporation’s CARES for TRAVEL program, tourism-engaged MSMEs will have access to zero interest, no-collateral loans. The borrower MSMEs will only need to pay a one-time service fee, which is set at a maximum of eight (8) percent for a 4-year loan term.

FOR MSMES WITH BUSINESSES OPERATING FOR ONE (1) YEAR, AND ACCREDITED BY THE DOT OR REGISTERED AS A BARANGAY MICRO BUSINESS ENTERPRISE (BMBE)

  • Loanable amount from PhP10,000 up to PhP5.0 million
  • With grace period of up to 24 months or two (2) years
  • No collateral required
  • No interest

DOCUMENTARY REQUIREMENTS

For loan applicants with BIR-filed Financial Statements:

  1. 2018 or 2019 BIR-filed Financial Statements (1701 or 1702, Income Statement and Balance Sheet)
  2. Government-issued ID
  3. Bank account or electronic money account
  4. Corporate Secretary Certificate for partnerships or corporations

For loan applicants without BIR-filed Financial Statements:

  1. Government-issued ID
  2. Bank account or electronic money account
  3. 2019 and 2020 Barangay or Mayor’s Business Permit
  4. Three (3) pictures and one (1) video showing the financial condition and assets of the business
  5. Corporate Secretary Certificate for partnerships or corporations

Applications may submitted to www.BayanihanCARES.ph