Friday, 14 August 2020 16:27

SBC reopens CARES loans for MSMEs

Written by CDO COVID19 Response Team

(TLC for MSMEs: Ms. Rae Legaspi (second from right), MSME Consultant to the Cagayan de Oro Trade and Investment Promotions Center (Oro-TIPC), with business owners in the pottery sector during a value-chain analysis workshop last March)

File photo taken before the COVID-19 pandemic.

Small Business Corporation (SB Corp), a government-owned and controlled corporation (GOCC) which offers financial services for micro, small and medium enterprises (MSMEs), will reopen its COVID-19 Assistance to Restart Enterprises (CARES) Program online Borrower Registration System (BRS) on 17 August 2020.

Micro enterprises (asset size excluding land: not more than PHP3-million) can avail of loans up to PHP200,000.00, and small enterprises (asset size excluding land: >PHP3-million to PHP15-million) up to PHP500,000.00, payable for up to 24 months without interest.

Application for this second run, called CARES 2, is exclusively online through No manual applications will be accepted.


(Batting for the hometeam: Local Economic and Investment Promotions Officer (LEIPO) Eileen San Juan champions homegrown MSMEs at an event promoting local chocolatiers last February.)

“This is of particular interest to the Cagayan de Oro business community since 99% of our 24,000-plus registered businesses are MSMEs,” says Local Economic and Investment Promotions Officer Eileen E. San Juan.

She adds that her office, the Cagayan de Oro Trade and Investment Promotions Center (Oro-TIPC) is ready to assist business owners with their applications through MSME Consultant Raelita Legaspi who heads a team that will coach applicants through the process. Applicants who need coaching may email their contact information to This email address is being protected from spambots. You need JavaScript enabled to view it..

According to Ms. Legaspi, the loan applications will be queued on a first come-first served basis so she encourages local MSMEs to prepare their requirements and apply as soon as the portal opens.

Further loan application and process details are available here.

ORO-TIPC Facebook link