How to Apply for DTI CARES 2 Loan

COVID 19 Assistance to Restart Enterprises (CARES) Program, or P3 loan, comes out with its second operation to continue rebuilding the micro and small enterprises affected by the nationwide lockdowns. 

Aside from discussing its loan structure, this article will also guide you on how to apply for DTI CARES 2 Loan:

What is P3 program or CARES loan?

Pondo sa Pagbabago at Pag-asenso, also known as P3 loan or CARES program, is a project of DTI that initially aims to deter micro-entrepreneurs and small business owners from resorting to 5’6 lenders and other forms of loan sharks. During the pandemic, this project became assistance to businesses that suffered in the months-long quarantine. After the pilot program, DTI reopens the CARES 2 and will be fully processed online.

Both micro-business owners and small business owners can apply for the P3 funding program, for a different bracket of loanable amount depending on the asset size. While the regular P3 program is still available, the new CARES loan has no interest rates but it places an upfront service fee.

Take note that the loanable fund must be used for restarting the enterprise, expansion, or replenishment of business supplies.

Who can apply for CARES loan?

The loan program is only for applicants who meet the following criteria:

For micro-entrepreneurs

  • Running a business for a minimum of one (1) year
  • Maximum asset size should be P3 million

For small business owners

  • Running a business for a minimum of one (1) year
  • Maximum asset size should be P15 million

For corporations or SEC-registered businesses

  • Applicant should be the Major owner or Stockholder
  • Must be an authorized signatory of the company

NOTE: Applicants more than 65 years old must have a co-borrower from their working immediate family.

What are the documentary requirements for CARES 2 loan from DTI?

Here are the documents needed that should be submitted online:

  • One valid ID with picture
  • Mayor’s Business Permit 2019 AND 2020, or official receipt of Business Permit renewal
  • Bank account or electronic money account under the business owner’s name
  • Three (3) photos of the fixed assets and business signage (file size: not more than 2MB)
  • One to three minutes video about your products, services, clients, suppliers, sales, and employees before the pandemic (should be cut into three one-minute clips for easy uploading)
  • For applicants with a negative credit track record: approved payment arrangement with credits
  • For transport-related loans: CPC permit, TNVS accreditation, LTFRB franchise (all valid), and OR/CR bearing the name of the applicant

Loan pre-release requirements are also needed. These are the following:

  • For approved loans amounting P100K and above: Post Dated Checks
  • For approved loans below P100K: PDCs (optional)

How much can you borrow from P3 program?

It depends on the size of the business and the borrower’s capability to repay the loan, which is determined through the evaluation of the said office. 

For micro-businesses

  • Loanable amount: P10,000 to P20,000
  • Grace period: maximum of 6 months
  • Loan term: maximum of 18 months for loans P50 thousand below; maximum of 30 months for loans over P50 thousand

For small businesses

  • Loanable amount: maximum of P500,000
  • Grace period: maximum of 6 months
  • Loan term: maximum of 18 months for loans P50 thousand below; maximum of 30 months for loans over P50 thousand

Steps in applying for DTI CARES Program

Here’s is the process of the loan application for the P3 program. The steps are as follows:

  1. Go to the official website of Small Business Corporation:
  2. Inside the page labeled “Apply Now,” fill out the information boxes.
  3. When you’re done, click “Create Account.”  
  4. Upon successful account creation, the “Application Process” page will open. Continue providing the necessary personal and business details.
  5. Upload the documents required. You can double-check your attachments through the list that can also be found on the same page.
  6. An Account Officer from SB Corp will reach out to you for further instructions.
  7. Your applications will undergo a thorough assessment.

Be reminded that this new CARES loan is filed online through the SBGFC website, following a first-come-first-serve basis. Manual applications will be instantly rejected.

Where can you learn more about P3 loan?

For further inquiries and clarifications, you may contact the following SBGFC channels:

  • P3 Hotline for NCR: 8651-3333
  • P3 Toll-Free Hotline outside Metro Manila: 1 800 10 651-3333
  • Email:
  • Facebook page:
  • Directory of offices: