STAPLES (Sustaining Access to Primary Food and Link to Enterprises) is a loan product for MSMEs in the retail food market’s value chain, be they:

  • in the supply chain of a Multinational (MNC); or
  • an independently operating large food manufacturer/producer/supplier; or
  • retail segments of the market.

STAPLES  is highly relevant to food sufficiency and availability.  It has the following objectives: 

  • To assist MSMEs replenish their working capital and fund other business purposes
  • To sustain the food supply chains and maintain sufficiency and affordability; and
  • To save jobs and increase their business to make a bigger contribution to our economy

Coverage

  • MSMEs in the retail food business sector, which may be a part of a food supply chain of a MNC or local food producer (LFP), which is a large scale and homegrown ‘food producer’, ‘trader’ or ‘repacker’. Retailers and wholesalers of food items such as sari-sari stores, public market stalls, convenience stores, grocery stores, bakeries, micro to small scale food producers or processors, and vendors of farm food produce and seafood, are all included.
  • As major players in the food supply chain of MNCs or LFPs, their distributors and dealers may qualify as well for this loan product, so long as their asset size fall within the definition of a small or medium enterprise.

Eligibility Criteria

  • Must be a micro, small or medium enterprise in the retail food sector
  • Must be a part of the food supply chain of a MNC or LFP in good standing
  • For sari-sari stores:  for the past year
  • For distributor/s and dealer/s, must have asset size of a small or medium enterprise
  • Must be 100% Filipino owned or at least 60% Filipino-owned for corporations with foreign ownership
  • Must have been in operation for at least three (3) years for distributors
  • Must have no unresolved major negative credit findings on the applicant and on the enterprise

 

STAPLES Loans shall have:

*  0% interest
*  Collateral free

Loanable amount shall be subject to review upon subsequent renewals based on sales performance .

Documentary Requirements

Tier 1:  Small Sari Sari Stores

  • Government-issued ID
  • Bank account or electronic money account
  • Barangay Business Permit 2019 and 2020
  • Two (2) photos of business signage, inventories and fixed assets (jpeg format)

Tier 2:  Big Sari Sari Stores/Mini Groceries/Convenience Stores

  • Government-issued ID
  • Bank account or electronic money account
  • Mayor’s Permit 2019 and 2020

Tier 3:  Medium-sized grocery/convenience stores; dealers and small distributors

  • Government-issued ID
  • Bank account or electronic money account
  • Mayor’s Permit 2019 and 2020
  • For loans of P1.0M and above, must submit latest BIR filed Balance Sheet (e.g. 2020) to ascertain that it’s not a large enterprise
  • For corporations & partnerships only: Secretary’s Certificate