List of MSME Loans
List of Governmental and Non-Governmental Loans for MSME
PONDO SA PAGBABAGO AT PAG-ASENSO (P3)
This MSME loan program from the Small Business Corporation (SB Corp) aims to provide an alternative financial line to MSMEs that borrow from informal lenders (5-6 money lenders).
Micro enterprises with an asset size not exceeding P3.0 million can borrow Php5,000 up to Php200,000 with a 2.5% interest rate per month.
Who can apply to P3 Program?
For self-employed or micro entrepreneurs who has an active business for almost 1 year and have the following:
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Government ID
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Barangay clearance
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Evidence of your business activities within a year (also accept any certification from local government unit or government office).
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Proof of 1-year residence
How to Apply?
Requirements:
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Complete application form
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Barangay/Municipal Business Permit
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DTI Business Name Registration (for loans that will exceed 50,000)
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Photocopy of Government-issued ID
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ID picture
For more information, check out their Website:
https://sbcorp.gov.ph/news/p3-cares-online-application-to-reopen-on-august-17/
I-RESCUE LENDING PROGRAM
In support of Republic Act No. 11469 or the “Bayanihan to Heal as One Act”, LANDBANK, through the I-RESCUE Lending Program, shall provide interim measures for Small and Medium Enterprises (SMEs), Cooperatives (Coops) and Microfinance Institutions (MFIs).
The program aims to provide additional funds and loan restructuring under more flexible terms and conditions to eligible borrowers. Program Fund - Php10 Billion Initial Internal Fund.
Who can apply to I-RESCUE lending Program?
Micro, Small and Medium Enterprises who need an Emergency fund for working capital.
How to Apply?
Requirements:
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Accomplished Loan Application Form (with pictures, if applicable)
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Securities and Exchange Commission (SEC)/Department of Trade and Industry (DTI) – certified or Corporate Secretary certified true copy of the SEC/DTI Certificate of Registration, Articles of Incorporation and By-Laws
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Corporate Secretary-certified true copy of the duly notarized certificate confirming the resolution of the Board of Directors and/or committees or bodies authorizing the application for LANDBANK loans and specifying the authorized signatories
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Valid certificates/permits/licenses/clearances from concerned government agencies
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Audited F/S for the last three (3) years plus the current year F/S
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List of key officers of the firm
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Client Information and Signature Specimen Card and at least one valid/government ID such as but not limited to unexpired passport, Social Security System, Government Service Insurance System or driver's license
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Tax Identification Number
For more information, check out their Website:
COVID-19 ASSISTANCE TO RESTART ENTERPRISES PROGRAM (CARES)
MSME CREDIT GUARANTEE PROGRAM (MCGP)
Tagged as CARES 2 to distinguish it from the initial CARES Program of 2020, it’s part of the original P3 Program that caters to MSMEs that have been economically affected by the pandemic.
CARES originally had a PHP 1 billion fund to help affected enterprises. The Bayanihan 2 Bill, however, has allocated an additional PHP 10 billion for the CARES Program and other lending programs for micro and small businesses, cooperatives, and OFWs affected by COVID-19.
Here are the loan amounts and terms you can request based on your business assets.
Who can apply to CARES Program?
To be eligible for a DTI loan under CARES, you must fulfill the following:
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Make sure the business is 100% Filipino-owned.
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Must be in operation for at least a year before March 16, 2020.
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Assets should not be over PHP 15 million, excluding the land where the business office or facility is located.
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Affected by the ECQ in Luzon or similar community quarantine areas in Visayas and Mindanao.
How to Apply?
Requirements:
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Accomplished loan application form and signature card
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Valid government-issued ID with photo
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Barangay certification of business
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Proof of permanent business address
For more information, check out their Website:
https://sbcorp.gov.ph/programs-and-services/bayanihan-cares/
The MGCP is a guarantee offered by the Philippine Guarantee Corp. (PhilGuarantee). It aims to increase the availability of credit from the banking sector while also providing much-needed financial support to MSMEs to help keep businesses afloat amid the coronavirus pandemic, with over P655 billion in credit guarantee lines opened in 2020.
Maximum of Php 50 million per borrower; Loans of over Php 50 million are subject to PHILGUARANTEE’s regular credit guarantee program guidelines before they can be accepted.
Out of these credit guarantee lines, a total of P180.67 billion in loans were guaranteed by the state agency, or 8 percent above its target of P167.21 billion for last year, said PhilGuarantee president-CEO Alberto Pascual in his report to Finance Secretary Carlos Dominguez III.
Who can apply to MCG Program?
The eligible borrowers of this program are Micro, Small and Medium Enterprises affected by the Covid-19 Pandemic.
How to Apply?
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Visit any PhilGuarantee accredited banks or financial institutions.
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Submit the application form and requirements for the loan to be processed. The requirements depend on the accredited banks or financial institution.
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The PhilGuarantee will inform their accredited lending partners the status of guarantee coverage, whether the application Is approved or not.
For more information, check out their Website: