Financing Programs Loans and Financing Programs for Micro, Small and Medium Enterprises

AsiaTrust Import Letter of Credit / Trust Receipt

Program Title: Import Letter of Credit / Trust Receipt

Program Objective: This facility is offered to clients who are engaged in the importation of raw materials or products for manufacturing, wholesale or retail trading.

Eligible Borrowers:
Single Proprietorship

• Partnership
• Corporation
• Businessmen/Entrepreneurs

Loan Purpose: For domestic purchase of raw materials. Terms/Requirements:

Amount: Depends on the actual requirement.

Interest Rate:  Prevailing market rates upon Trust Receipt date.

Availment: Via Trust Receipts for 90 days, renewable for another 90 days, subject to 25% partial payment on principal and subject to inspection if goods under TR are still present.

Charges:

• Opening Commission of 1/4 of 1% for the first 60 days and 1/8 of 1 % every month, thereafter, and
• All other charges relative to the LC opening for the account of the borrower.

Maturity / Repayment:   One year from date of approval.

Security:

• Trust Receipts on goods purchased via LC;
• Marginal Deposit of 20%;
• Postdated Checks (PDCs) of the borrower; and
• Continuing Suretyship of the Principals.

Asiatrust Development Bank is also accredited in the various special lending programs of government:

Development Bank of the Philippines

• Industrial & Support Services Expansion Program
• Industrial Guarantee Loan Fund
• Japan Export Import

Land Bank of the Philippines

• Countryside Loan Fund 1 & 2
• Countryside Loan Fund 3
• Agricultural Loan Fund

Social Security System

• Kabalikat sa Pagpapaunlad ng Industriya (KASAPI)
• SSS Tourism Project
• SSS Power Generation Programs
• SSS School Financing Program
• SSS Hospital Financing Program
• SSS Special Financing Program

Contact Details:

Ms. Cindy C. Viola, Branch Credit Group
AsiaTrust Development Bank
1424 Quezon Avenue, Quezon City
Phone: (02) 924-5680/5650