Clients: MSMEs

Frontline Service: Retail Lending Program

Maximum Turn-around Time: 22 working days

Schedule of Availability of Service: Mon-Fri, 8:00 am to 6:00 pm

Fees : Commitment Fee – P4,000.00

 

PREQUALIFICATION CRITERIA

QUALIFIED BORROWERS . Micro enterprises and lower-level small enterprises that have survived the enterprise-gestation stage

*strictly within half hour public commute radius from main office or provincial desk offices

 

OWNERSHIP. Must be at least 60% Filipino-owned

 

ASSET SIZE. Business asset size should not exceed P10.0 million (medium enterprises excluded)

 

BUSINESS TRACK RECORD. 1)At least 36 months; 2) No negative credit track record; 3) with at least two full time workers with statutory benefits1/; 4) Existing loans outside of SB Corp should not exceed one transaction; and 5) With BIR accreditation and ability to issue official receipt.

 

DOCUMENTATION (primary documents required from borrower)

1) DTI or SEC business registration ;2) Sales record for at least 36 months

3) Mayor’s Permit; 4) Statutory documents for at least two workers 1/; 5)BIR accreditation and sample Official Receipt; 6. Mayor’s Permit for business site (or equivalent document) (BIR-filed FS shall not be required)

 

COLLATERAL REQUIREMENT. No REM or CHM shall be required

PDCs (or substitute fintech mechanism as may be defined by SBCorp)

LOAN LIMIT. Based on repayment capacity. Minimum  - P200 thousand/ Maximum - 40% of latest validated annual sales or P1.0Million for old borrowers and P500.0 thousand for 1st  time borrowers; whichever is lower

LOAN EQUITY RATIO. Up to 80%

MAXIMUM TERM. Up to 3 years

REPAYMENT MODE. Monthly

LOAN PRICING STRUCTURE. Shall start at 24% per annum, for gradual reduction over time for good borrowers

 

1/  At least SSS contribution must be complied.   Full time worker being referred to here excludes spouse of the registered owner