News and Updates

Small Business Corporation has reopened its Covid 19 Assistance to Restart Enterprises (CARES) Program online Borrower Registration System (BRS) last August 17, 2020.
Note: Online loan applications received prior to this date are already on the final stages of processing, maintaining a queueing of first come first serve basis.
Tagged as CARES 2 to distinguish it from the initial run of the Program, this upcoming CARES window will require all applicants to apply through SBCorp's online BRS found in this link . Manual applications will no longer be accepted.
The loan features of CARES 2 is the same as CARES 1 including loan limit, interest rate, grace period and repayment term. The same identification and business registration documents are required.
Loan Term inclusive of Grace Period:
  • Maximum of 18 months for loans not more than P50.0 thousand
  • Maximum of 30 months for loans more than P50.0 thousand
Loan Amortization after Grace Period:
  • Maximum of 12 months for loans not more than 50.0 thousand
  • Maximum of 24 months for loans more than P50.0 thousand
Service Fee (front-end deducted):
  • 6% of approved loan amount if loan term does not exceed 18 months
  • 8% of approved loan amount if loan term exceeds 18 months
Loan Release requirement under CARES 2:
  • Loan applications more than Php 30,000 are required to have a bank account where SBCorp will deposit the loan release proceeds. The bank account should either be Land Bank of the Philippines or any PESONet or InstaPay participating banks.
  • Loan applications Php 30,000 and below may substitute the bank account requirement with electronic money accounts (EMA) such as GCash and PayMaya.
  • The bank/EMA account must be under the name of the loan applicant.
    • SBCorp will not allow a change in bank/EMA account details during the loan release phase, relative to what is indicated in the online loan application.
  • Loan applicants will not be able to proceed with their online application without their bank/EMA account details.
Loan applicants in CARES 2 will be required to submit the following during the online application:
  • Three (3) photos of the enterprise’s operations and fixed assets, inclusive of business signage. Image file size should be limited to less than 2 MB;
  • A one (1) to three (3) minutes video on the business’ operations
    • Loan applicant explaining the enterprise’ products and services, buyers and suppliers, level of sales and number of employees. (For ease of uploading, the video may be cut into one minute sections.)
In case the loan applicant has an outstanding negative credit track record with any financial institution (FI) prior to the Covid-19 pandemic, an approved payment arrangement with subject FI should be first secured. Otherwise, the loan application will be automatically denied.
Loan processing of applications of formally registered MSEs who are able to submit the following documents shall be completed in a few working days upon documents verification:
  1. SSS registration of employees in 2019, to serve as basis for number of employees prior to the Covid-19 pandemic; and
  2. BIR-filed financial statements for 2019, to serve as basis for volume of annual sales. (The subject financial report should indicate a positive net income.)
Loan applicants must ensure the:
  • Correct encoding of their first, middle and last names;
  • Name on the application must be the exact same name on the borrower’s government issued ID and supporting documents.
  • Failure to do so will result to rejection of loan application. The loan applicant will have to submit a new online application.
Additional Documentary Requirements
Loan processing of applications able to submit the following documents shall be completed in a few working days upon documents verification:
  1. SSS registration of employees in 2019, to serve as basis for number of employees prior to the pandemic (for this purpose, the proof of payment to SSS of employee benefits in December 2019 is required); and
  2. BIR-filed financial statements (FS) for CY 2019 business operations, to serve as basis for level of annual sales prior to the pandemic. Net income should be positive.
Loan Table for Fully Registered Enterprises
Type of Enterprise
No. of SSS Registered
Employees in
Annual Sales
for CY 2019
Loan Amount
Micro or small
Php 750,000
Php 100,000
Php 1,500,000
Php 200,000
Small Enterprises only,
with asset size of more
than P3.0 million
Php 2,250,000
Php 300,000
Php 3,000,000
Php 400,000
At least 5
Php 3,750,000
Php 500,000
  • For approved loans P100.0 thousand and above, Post Dated Checks (PDCs) are required to be issued to SBCorp prior to actual loan release.
  • Borrowers of less than P100.0 thousand may opt to also issue PDCs.
Loan applicants more than 65 years in age require a co-borrower from among their economically active immediate family members.
In case of Corporations/SEC-registered businesses, the authorized person to file a loan application must be the Major Owner or Stockholder who is also the company's authorized signatory or one of the authorized signatories.
For additional information, please contact the P3 Hotline at 8651-3333 for NCR and our toll free hotline 1800 10 651 3333 for those outside Metro Manila.
Compiled by:
Jeraza K. et al. PFA Secretariat