BAYANIHAN CARES– FINANCING ASSISTANCE TO HELP BUSINESSES RESTART.
The Bayanihan to Recover as One Act or Bayanihan 2 has directed SBCorp to expand its existing loan programs for MSMEs, cooperatives, hospitals, tourism, and OFWs affected by Covid-19 pandemic and by other socio-economic reversals
Loan proceeds are allowed to be utilized for: payroll cost; materials and suppliers; mortgage payments; rent; utilities, including fuel and storage; creation of new supportive businesses; re-purposing of existing business capital; any other business debt obligations that were incurred before the covered period; or acquisition of new technologies and systems to adjust business processes for resiliency.
FOR MSMES WITH BUSINESS OPERATING FOR ONE (1) YEAR
- Loans of up to PhP 5.0 million
- With grace period of up to 12 months
- No collateral required
- No interest
HOW TO APPLY
- Prepare and scan the documentary requirements
- Create an account in http://www.BayanihanCares.ph
- 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 to your email regarding the online submission and assessment of your loan application.
COVID-19 ASSISTANCE TO RESTART ENTERPRISES (CARES) PROGRAM
FREQUENTLY ASKED QUESTIONS
1. What is Small Business Corporation?
2. What is CARES Progam?
3. How to apply for a CARES loan?
4. Is co-maker/ co-borrower required?
5. How much loan can be availed?
6. What are the requirements that need to be submitted upon online application?
7. What are the requirements that need to be submitted for loan release?
8. How much are the loan interests?
9. Is a Bank Account a required in applying for a CARES loan?
10. How will I know that my application has been successfully filed in the BRS?
11. How long will it take to process a loan application?
12. What are the possible reasons for loan denial?
13. How to check loan application status?
14. What are the possible statuses of loan applications and what the loan applicant should expect from each status?
15. How many days will it take for the loan proceeds to be credited to the LBP cash card?
16. Can business start-ups and/or individuals who are still planning to start a business avail of a CARES loan?
17. For applications under CARES for TRAVEL, what should the loan applicant do if the DOT accreditation number is not accepted in the BRS?
18. What happens in case of loan default or non-payment of CARES loan?
19. In case of disapproved loan applications, can a loan applicant appeal for reconsideration?
Siguraduhin po na ang email na gagamitin ay valid at active. Kailangan nyo pong ma-receive and email verification upang kayo ay makapagpatuloy sa aplikasyon.
Matapos mag-create ng account, buksan ang inyong email at hanapin ang email ng SBC-BRS. I-click ang Verify Email button sa email at kayo ay mare-redirect muli sa pre-registration page.Kung di mahanap ang email sa inbox subukan din pong hanapin sa spam folder.
Siguraduhin din na ang cellphone number na ilalagay sa pre-registration ay active . Makakatanggap ng text na taglay ang one time pin number na hihingin sa susunod na step sa application.
Ingatan po natin ang pag-input ng email, password at cellphone number. Hindi po kayo makakapagpatuloy sa aplikasyon kung mali ang mga sumusunod na detalye.
Our applications for Bayanihan Cares is now open. Applicants may submit their applications at https://brs.sbgfc.org.ph Open to all MSMEs even to CARES 1 and CARES 2 borrowers who want to avail of a higher loan under the new guidelines and applicants denied under CARES 1 due to the 1-year requirement.