Start Up Funding Amidst Covid 19 in the Philippines

Bayanihan Cares – Financing Assistance

Great News to our Negosyantes the Philippine Government Provides assistance under the Bayanihan to Recover as One Act or Bayanihan 2 has directed Small Business Corporation (SBCorp) to extend its already existing loan programs for Micro, small and medium enterprises (MSMEs), Cooperatives, Hospitals and OFWs affected by the Covid-19 pandemic.

Loan process are allowed to be utilized for: Payroll cost; materials and suppliers; mortgage payments; rent; utilities, including fuel and storage; creation of new supportive businesses; repurposing of exiting business capital; any other business debt obligations that were incurred before the covered period or acquisition of new technologies and systems to adjust business process for resiliency.

For Micro, Small and Medium Enterprises (MSMEs) with Business Operating for Atleast One (1) Year they will be granted a loan of up to Php 5.0 million (five million pesos) with a grace period of 1 year with no collateral requirements and with no interest.

To Apply:

  • Prepare and scan documentary requirements (Business permits etc)
  • Go to this link (http://www.bayanihancares.ph) and create an account
  • Fill out personal details to complete your account creation, including your correct email address
  • Check your email for the system-generated email verification link, and click the Verify Email Button.
  • Complete the information requested in the pre-registration process
  • Click the Apply for a loan button to complete your online loan application, and attach/upload the required documents
  • Wait for the confirmation and update sent your email regarding the online submission and assessment of your loan application.

For more information about this opportunity, please click the link below:

https://www.sbgfc.org.ph/programs-and-services/bayanihan-covid19-assistance-restart-enterprises-cares#:~:text=Bayanihan%20CARES%E2%80%93%20Financing%20assistance%20to,by%20other%20socio%2Deconomic%20reversals

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