Financing Program for Tourism Projects
Program Title: Financing Program for Tourism Projects
Program Objectives:
- To provide long-term financing to SSS members engaged in tourism projects through the SSS accredited conduit banks / participating financial institutions (PFIs) as a means of spurring economic growth and regional development;
- To contribute to the government’s program of generating more employment opportunities especially in the countryside; and
- To contribute to the country’s foreign exchange earnings.
Eligible Borrowers:
- New or Existing enterprises engaged in tourism business;
- At least 60% Filipino-owned;
- Must have a track record, experience and training on the project being proposed;
- Must have debt-to-equity ratio of not more than 75:25 before and after financing; and
- Must be an SSS member of good standing
Loan Purposes:
- Site development;
- Enhancement of existing facilities;
- Construction of building e.g. resort cottages;
- Acquisition of machinery and equipment, furniture, furnishings and fixtures; and
- Acquisition of land.
Terms/Requirements:
Amount: Depends on the requirements of the project/business but not to exceed P150.0 million.
For land acquisition, the loanable amount is up to 40% of its cost but not to exceed 40% of SSS loan.
Interest Rates : Subject to review every five years
| Borrower | To PFI | To End-User |
| 1-3 years over 3-5 years over 5-10 years |
9% 10% 11% |
13% 14% 15% |
Maturity / Repayment Maximum of ten (10) years, in equal monthly, quarterly or semi-annual payments, including a grace period on the repayment of principal of not more than three (3) years.
Security: Real Estate/Chattel Mortgage and other collaterals acceptable to the PFIs.
Contact Details:
Social Security System (SSS)
Institutional Loans Department (ILD)
SSS Building, East Avenue, Diliman, Quezon City
Phone: (02) 927.8249, 920-6401 locals 5115 or 5118
Email: marquezls@sss.gov.phh
Sep 6th, 2009 at 3:55 pm
any gov. agency can help us or give us an idea to finance our project in housing … one of my relative own a 2500 sqm. lot and its vacant as of this time now we are planing to buy this property to sub divide it and build our own house in this area … we are compose of 20 pilipino who are planing to buy and have this property and we are willing to settle the terms of payment in 2 to 5 years to some gov. agency who finance our project.. small comunity housing …. hope any one here can give us an idea how we canget the suficient fund to build this small comunity dream possible. this project is costing around 2 million pesos only to buy the property and sub divide it and documentation needed. your not just helping us but it also helping pilipinos home less to have their own property. more power to all goverment agency in the philippines…
CONTACT INFO: 09187981011 OR email@ buz_man_6900@yahoo.com
Sep 8th, 2009 at 3:25 pm
I would like to make inquiry about the tourism financing project loan. I am currently constructing a 28 room resort in Boracay. The land is fully titled.What are your requirements to avail the loan?
JOVEN
Nov 1st, 2009 at 5:51 pm
Joven Antolin
I am engaged in the preparation of Feasibility Studies in any industry related projects. One of the priority documents required by a financing instition is Feasibility Study of the proposed project or existing projects. The Feasibility Study will determine the viability of the project showing the profitability indicators, technical analysis, market analysis, financial analysis.
If you are interested I may package the documents and requirements needed in availing your loan.
Thank you.
Dario Quitan
cell no. 09085946641/09277922945
Nov 1st, 2009 at 9:18 pm
If you want to start a business or having an existing business and you want to avail a loan. The following documents must be prepared:
* Project Feasibility Study of the proposed business or exisitng business
* Business Name, Business Permits (Mayor, Brgy, BIR, etc)
* Collateral(Real Estate)
– Title
– Tax Declaration
– Tax Reciepts
– Tax Clearance
– Location Map, Boundary Survey
* Market Contract
* Letter of Intent
I am engaged in consultancy services and I can assist you in facilitating the requirements of your loan
You can contact me at 09085946641/09277922945 Dario Quitan
or email me at dcquitan@yahoo.com
Nov 7th, 2009 at 3:20 am
we are looking for finance tourist project in egypt
Nov 10th, 2009 at 9:35 pm
Amr Ismail
If you have real estate collaterals you can avail fundings from your financing institutions such as banks or government financing institutions in your country. But the basic requirement is a project proposal in the form of feasibility study. if you are interested I can packaged a feasiboility study of your tourism project and you can use it with your collateral to avail funding for your project.
You can contact me at dcquitan@yahoo.com
Dario Quitan