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
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