29/01/2022
READ | ADVISORY No. 1, Series of 2022
CLOSING OF THE BAYANIHAN CARES PROGRAM
The Small Business Corporation (SBCorp) is announcing the closing of its regular Bayanihan CARES Program effective January 31, 2022, as its funds for the program have been fully lent out.
In the two-year run of the Program, SB Corp was able to assist more than 40,000 MSMEs with total approved loans of P6.8 billion.
SBCorp, however will continue to accept applications for special programs intended for specific segments such as CARES for TRAVEL (for tourism related establishments), HEROES (for displaced OFWs) and STAPLES (for retail stores, mini-groceries and small dealers in the consumer goods supply chain).
The CARES for TRAVEL Program, in particular still has substantial funds available for lending due to the slow recovery of the travel sector. As we continue to lend under this program we are pleased to announce that its coverage is now expanded to include all tourism-related enterprises regardless of accreditation with the DOT. Secondary tourism enterprises and support services such as transportation, catering, events organizing, souvenir shops and the like may now apply for a loan.
SB Corp will only accept applications for Bayanihan CARES loans until 11:59 PM of January 31, 2022. Only applications accepted before the cutoff will be processed.
SBCorp shall continue accepting applications for CARES for TRAVEL, STAPLES and HEROES loans beyond January 31, 2022.
For more information please email us as [email protected]
