Tala established the COVID-19 Rebuild Fund to help Filipinos cope with, recover and rebound from the Coronavirus pandemic. Among other things, the fund will provide Community Support Loans for essential businesses. For trusted sources of information on COVID-19 and more information on the fund, visit: https://tala.ph/covid-19-resources/
What is the Community Support Loan?
The Community Support Loan is a loan offering launched by Tala as part of the Tala’s efforts to support Filipino communities during the COVID-19 crisis. Tala customers who run a business that is providing essential support to their community can apply for a Community Support Loan with specialized terms.
How do you apply for the Community Support Loan?
Eligible customers can apply in the Tala app.
Who is eligible to receive this loan?
- All business owners providing essential services to their communities are eligible to apply
- Business owners must still be able to serve their communities in some way during the COVID-19 shutdown.
How do you define “essential business”?
Essential businesses are defined as businesses that provide necessary healthcare, food and water, critical household supplies, education, and logistics related to the services above.
When will the loan be disbursed?
Applicants will be reviewed on a rolling basis and notified of Tala’s decision within two weeks of completing their application. Once selected, Tala will contact you via phone and loans will be disbursed within 24 hours. You will be notified as soon as a decision is made.
Where can I cash out and pay back this loan?
You can cash out and repay your Community Support Loan using Tala’s current cash-out and cash-in partners.