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The Small Business Corporation (SBCorp) is offering a new loan package dubbed Resilient, Innovative, and Sustainable Enterprises, Unleash your Powers (RISE UP), which aims to sustain the operation of small enterprises related to retail and tourism activities affected by the pandemic.

Desk officer Cris Dile said RISE UP is now a regular loan program that replaces the Bayanihan CARES Program. The loan program will help micro, small, and medium-sized businesses (MSMEs) that have been around since 2020 and are still running.

“Regular program na rin kasi ‘yan so meaning baka magiging permanent na. Ang RISE UP TURISMO lang ang may limit, ‘yan kasi ang dating CARES TRAVEL na medyo malaki pa rin naman ang natirang fund,” Dile said.

The SB Corp. is a branch of the Department of Trade and Industry (DTI) that helps small and medium-sized businesses (MSMEs) get loans.

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The financing programs under RISE UP are for multi-purpose for all MSMEs, including existing borrowers; the Turismo loan for MSMEs engaged in tourism activities regardless of accreditation; and the Tindahan loan for sari-sari stores, retail stores, dealers, and distributors under the network of partner fast-moving consumer goods (FMCGs).

Under a multi-purpose loan, products available are loans for multi-sectoral microenterprises with a maximum amount of P300,000 with 12 percent interest. It also offers multi-purpose loans for first-time buyers with a maximum loanable amount of P2 million and a 12% interest rate, as well as multi-purpose loans for suki with a maximum loanable amount of P5 million and an 8% to 12% interest rate.

For RISE UP Tindahan, there are Micro Tindahan for sari-sari stores with FMCG accreditation up to P300,000 with 10 percent; and SME Tindahan Loans for retail stores, dealers, and distributors with FMCG accreditation up to P5 million with eight percent interest.

The SBCorp also offers Micro Turismo loans for micro enterprises engaged in tourism activities up to P300,000 and SME Turismo for small and medium enterprises engaged in tourism activities per DOT-SBCorp Agreement up to P5 million.

Interested entrepreneurs may create an account at www.brs.sbcorp.ph and apply through the borrower registration system. The loan application will go through a series of assessments covering credit information, business information, and financial performance.

SBCorp said that the applicant for a loan will get an email with the results of each stage of the evaluation.

The loan proceeds will be given to the applicant through fund transfer for their Landbank account, via Instapay or Pesonet for other banks, and an electronic money account. The loan payment will be sent through Landbank LinkBizPortal, Bayad Center, Palawan Pawnshop (not Palawan express branches) and USSC (Western Union).

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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.