File photo by R. Ganancial/PN

The Small Business Corporation (SBCorp) is offering enterprise rehabilitation financing (ERF) until June 15 to help affected micro, small, and medium enterprises (MSMEs) recover from typhoon Odette.

According to SBCorp desk officer Cris Dile, the new loan program is applicable to both tourism and non-tourism MSMEs in the province affected by the typhoon. The ERF is open to all functioning MSMEs in the calamity-affected regions, which includes the MIMAROPA region.

“Para doon ‘yan sa mga negosyanteng naapektuhan ng bagyong Odette—wala kaming numbers pero ang alam kong target allocated for MIMAROPA is 70M,” he said in a text message.

Non-tourism borrowers, according to SBCorp, are those who apply for loans that are not covered by accepted Department of Tourism (DOT) and non-DOT accredited sorts of businesses.

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On the other hand, tourism borrowers are businesses that have sought loans that are covered by both DOT and non-DOT authorized types of businesses.

Existing qualifying borrowers in the non-tourism and tourist sectors must be operating in areas affected by the typhoon. New loan borrowers must be 100% or mostly Filipino-owned MSMEs that have been in business for at least a year before they apply for the loan.

They must have a total asset value of not more than P100,000,000, which includes loans but excludes the property on which the business entity’s office, plant, and equipment are located. Under any of SBCorp’s loan programs, the applicant must have no past due debts.

The tourism borrowers are divided into three enterprises: primary tourism, secondary tourism, and tourism support services.

Accommodation establishments, travel and tour agencies, tourist transportation operators, and other primary tourism enterprises such as Meetings, Incentives, Conferences & Exhibitions (MICE) facilities, organizers, adventure, sports, and eco-tourism facilities, gyms, health clubs, parlors, and salons fall under the category of primary tourism enterprises.

Tourism-related enterprises and tourism support services such as transportation and dining make up secondary tourism. The maximum loanable amount for tourism borrowers is P5 million, with a five-year repayment schedule that includes a 24-month grace period.

“Up to 50% of value of damaged inventory and/or fixed assets of the business as assessed by SB Corporation’s AO based on virtual project inspection and interview, or the requested loan amount, whichever is lower,” SBCorp explained.

Non-tourism qualified new borrowers and those with loanable amounts that do not exceed P300,000 when added to their outstanding loans are eligible for the maximum loan limit of P300,000. Borrowers who have loanable amounts that exceed P300,000 when added to their outstanding loans and whose Odette ERF loan does not exceed P800,000 may borrow up to P800,000 as an Odette loan and up to P5 million as an aggregate loan.

The SBCorp mentioned that requirements for new borrowers under non-tourism are at least one government-issued ID with the signature of the loan applicant; a selfie of the loan applicant holding the same ID mentioned; the latest General Information Sheet for corporations or Articles of Partnership for partnerships; proof of bank account or electronic money account must be under the name of the sole proprietor, sole proprietorship, partnership, or corporation); and 2021 Barangay Permit (for loans of not more than P50,000), or 2021 Mayor’s Permit (for loans of more than P50,000), or DTI or LGU Certification (in case of lost documents).

Existing borrowers under non-tourism are only required to provide proof of bank account or electronic money account, which must be in the name of the sole proprietor, sole proprietorship, partnership, or corporation.

Existing tourism enterprise borrowers must provide proof of a bank account or electronic money account if their accounts need to be updated. They are also required to submit the latest General Information Sheet for corporations, or Articles of Partnership for partnerships; a 2021 Barangay Permit for loans of not more than P50,000, or a 2021 Mayor’s Permit for loans of more than P50,000, or DTI or LGU Certification (in case of lost documents); a one-minute video showing the financial condition and assets of the business; at least one photo of each type of asset classified as movable, perishable, and fixed.

Tourism new borrowers must present at least one government-issued ID with the signature of the loan applicant; a selfie of the loan applicant holding the same ID clearly capturing both the loan applicant’s face and the uploaded government ID; and proof of bank account or electronic money account, which must be under the name of the sole proprietor, sole proprietorship, partnership, or corporation.

The 2021 BIR-filed financial statement is required for loans exceeding P300,000 for both new and existing borrowers.

“Within one month from the date na naipasa na nila (processing timeline) ang borrower information assessment stage not from the date of application kasi kadalasan kulang-kulang pa mga documents. And by the way, yung program offer ay hanggang June 15 lang,” he added.

Interested borrowers, both in tourism and non-tourism, may apply through www.bayanihancares.ph.


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is one of the senior reporters of Palawan News. She covers agriculture, business, and different feature stories. Her interests are collecting empty bottles, aesthetic earrings, and anything that is color yellow.