NextGen Day

As of the end of October, the Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), has authorized more than PHP5.99 billion in loans for small enterprises.

According to SBCorp’s website, the Covid-19 Assistance to Restart Companies (CARES) loan program, which was supported by the Bayanihan 2, benefited 36,661 micro, small, and medium enterprises (MSMEs).

Under the Bayanihan CARES HEROES program, the same loan program supported 812 repatriated overseas Filipino workers (OFWs).

Due to the pandemic, displaced OFWs received a total of PHP45.6 million in loans.

Meanwhile, on October 31, SBCorp temporarily halted applications for the Bayanihan CARES 2 program to allow for loan applications for the 13th-month pay loan facility.

“Loan applications received after October 31 will be handled beginning January 2022,” according to the DTI’s financial arm.

SBCorp also offers interest-free loans to enterprises in need of 13th-month cash through its 13th-month pay loan program.

SBCorp can extend PHP50,000 to PHP200,000 in loans to micro and small businesses to fund their employees’ 13th-month wage, according to DTI Secretary Ramon Lopez.

Micro and small enterprises can register at sbcorp.gov.ph/13th-month-pay-loan-facility/ if they want to apply for the 13th-month pay loan facility.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---