The Small Business Corporation (SBCorp), the lending arm of the Department of Trade and Industry (DTI), continues to provide financial assistance to affected micro, small, and medium enterprises (MSMEs), cooperatives, hospitals, tourism business, and repatriated or displaced Overseas Filipino Workers (OFWs) by the COVID-19 pandemic under the Bayanihan CARES (COVID-19 Assistance to Restart Enterprises).
Bayanihan CARES was launched in October 2020 with PhP 8.08 billion funds thru equity infusion was allocated to SBCorp under the Bayanihan 2 Act. This is an interest-free and collateral-free financing program wherein the borrower MSMEs will only need to pay a one-time service fee, which is set at a maximum of eight (8) percent for a 4-year loan term. Continue reading SBCorp continues financial assistance to affected businesses amid the ongoing pandemic
The Micro, Small, and Medium Enterprises (MSMEs) continue to thrive amidst the problematic economic landscape brought about by the ongoing Covid-19 Pandemic.