Easy Pondong Pang-Asenso (EPPA)
Program Title: Easy Pondong Pang-Asenso (EPPA)
Program Objective: To provide financing to small entrepreneurs to set up, sustain, expand or improve their business with easier collateral requirements and simpler documentation procedures.
Eligible Borrowers/Projects: Sole Proprietorships, Partnerships (100% Filipino-owned), and Corporations (at least 60% Filipino-owned) which meet the following criteria:
- Engaged in manufacturing, agribusiness, processing and services (including trading & merchandising); and,
- With asset size of above P3.0 Million up to P100.0 Million (excluding the value of the lot where the business is located).
Loan Purposes: Working capital and fixed asset acquisition (except lot acquisition)
Terms/Requirements:
Amount: Up to 80% of the total project requirement
Interest Rate: Based on prevailing market rate.
Maturity / Repayment:
- Credit Line - one year availability, renewable
- Term Loan - based on cash flow of project/s financed with maximum of two (2) years grace period on principal payments
Security:
- Real Estate/Chattel Mortgage (REM/CHM)
- Hold-out on Deposits
- Assignment of Receivables and/or Inventories
- JSS of Principal Stockholders/Officers
- Guarantee cover from Small Business Corporation (SB Corporation), if required
Contact Details:
Land Bank of the Philippnes (LBP)
1598 M.H. Del Pilar corner Dr. J. Quintos Streets, Malate, Manila
Program Management Department (PMD)
Phone: (632) 522.0000, (632) 551.2200 locals 2650, 2589
Direct Line: (632) 405-7309 «(632) 405-7427
Fax: (632) 528-8541/42/43
Email: sme-pmu@mail.landbank.com
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