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

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

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