CITY OF SAN FERNANDO, Pampanga — Small Business Corporation (SB Corp) has approved for release PhP43.6 million worth of loan applications made by Central Luzon micro and small enterprises.
Department of Trade and Industry (DTI) Regional Director Judith Angeles disclosed that based on data provided by the SB Corp, 2,040 applications were received for the Pondo sa Pagbabago at Pag-Asenso Covid-19 Assistance to Restart Enterprises (CARES).
“The P3 CARES program is part of the Enterprise Rehabilitation Financing program of DTI to assist establishments affected by the quarantines imposed throughout the country,” she said.
Of the total P3 CARES loan applications, 550 have been processed and approved.
Entrepreneurs from Pampanga registered the most number of loans approved with 112 amounting to PhP10.32 million.
Moreover, Nueva Ecija had 110 loans approved amounting to PhP 7.37 million while Bulacan had 89 approved loans totaling PhP 8 million.
Zambales had 64 loans worth PhP 4.1 million, Aurora had 63 loans worth PhP 3.61 million, Tarlac had 60 approved loans worth PhP 6.4 million and Bataan had 52 approved loans worth PhP 3.85 million.
P3 CARES program is a loan program of the SB Corp which intends to help micro and small enterprises recover and restart their business after the downturn brought by the Covid-19 pandemic.
Under the CARES program, enterprises may avail of zero interest loans ranging from PhP 10,000 to 500,000, payable within 12 to 24 months. The program also includes a six-month grace period for principal repayment.
To avail of the program, prospective applicants may visit www.sbgfc.org.ph, where they can download the application form.
They can also file their application online at https://brs.sbgfc.org.ph or visit the local SB Corporation or DTI Negosyo Center.
Among the requirements for loans are submission of application form, government issued ID and proof of business. All loan applications will be evaluated by an account officer who will conduct credit investigation.