Guide on How To Get a Loan Assistance From DTI-CARES Program

Due to the pandemic that we’re experiencing, many businesses have been affected. Good thing because DTI now offers assistance to those business owners who have been affected by COVID-19 which is called DTI-CARES Program, this program aims to provide assistance to restart enterprises of businesses. This program is also part of the P3 Program that was also being offered by DTI.

DTI CARES Program focuses on helping small and micro-businesses. As a matter of fact, CARES has allotted Php 1 Billion funds to help the affected enterprises. In addition, the Bayanahinan 2 Bill also added  Php 10 billion for the CARES Program and other programs that aim to help small and micro-businesses.

If you wanted to know how to apply for DTI-CARES Program, this might help you.

Qualifications:

• Business must be 100% Filipino-owned
• Legitimately operating for at least a year before March 16, 2020
• Have been affected by ECQ
• Assets should not exceed PHP 15 million, excluding the land where the business is located

Loan Amount:

Amount: Php 10,000 up to Php 50,000
Term: Up to 12 months

Amount: More than Php 50,00 up to Php 150,000
Term: Up to 24 months

Amount: More than Php 150,000 up to Php 200,000
Term: Up to 24 months

What are the Requirements Needed?

For loan amounting Php 10,000 up to Php 50,000
The requirements are:
-Accomplished Loan Application Form
-Government Issued ID (1)
-Barangay Certification of Business
-Proof of Permanent Business Address

For loan amounting Php 50,00 up to Php 150,000
The requirements are:
-Accomplished Loan Application Form
-Government Issued ID (1)
-Barangay Certification of Business
-DTI/SEC Business Registration
-Proof of Permanent Business Address

For loan amounting Php 150,000 up to Php 200,000
The requirements are:
-Accomplished Loan Application Form
-Government Issued ID (1)
-Proof of Permanent Business Address
-DTI/SEC Business Registration
-Mayor’s Business Permit
-Post Dated Checks

How to Apply?

1. Go to the official Small Business Corporation website or click this link: www.sbgfc.org.ph
2. Once accessed, download the ERF P3 or CARES loan form
3. Fill out the application form
4. Print a copy
5. Proceed to the SBC office or DTI Negosyo Center
6. Submit your requirements and accomplished CARES Loan form
7. Wait for the loan application to be processed which may take up to 12 business days

For more information, you may contact them using this hotline: (632) 8 651-3333 or send an email to this email address: [email protected]