SB Corp. issues CARES implementing guidelines

The Small Business Corporation (SB Corp.) issued the Implementing Guidelines for its regular COVID-19 Assistance to Restart Enterprises (CARES) Program for small and medium enterprises (SMEs). 


To be eligible to borrow, SMEs must be:

  • 100% Filipino-owned;

  • operating for at least one (1) year prior to March 16, 2020; and

  • affected by the imposition of Community Quarantine measures.


Existing SME borrowers of S.B. Corp. shall be given priority but without prejudice to new SME borrowers. Loans of existing borrowers must be current in status prior to the declaration of the Community Quarantine.


Salient features are as follows:

  • Loan purpose: working capital replacement

  • Loanable amount: from P500,000.00 up to P5M

  • Interest rate: 0%

  • Fees and charges: either 6% for loans with term, exclusive of the grace period, of up to one (1) year or 8% for loans with term, exclusive of the grace period, of between one (1) to two (2) years.

  • Loan term:

  • Grace period of six (6) months.

  • Payable up to two (2) years (exclusive of the grace period), to be amortized monthly.

  • Mode of loan release:

  • Either on lump sum or staggered (i.e. two [2] tranches) basis. A loan utilization report shall be required prior to the second loan release.

  • Loan proceeds shall be released through bank transfer via LandBank of the Philippines We-Access. Loan release through checks shall no longer be allowed.

  • Mode of loan collection: Issuance of Post-Dated Check (PDC).

  • Collateral requirement: the asset that will be financed shall serve as the loan collateral, which may include assignment of inventories and receivables.

More details, including the list of documentary requirements, can be accessed at