Industry Loan Program
Program Title: Industry Loan Program (Under the PFIs Omnibus Credit Line)
Program Objectives:
- To contribute to the national recovery effort by providing financial assistance to selected companies through the SSS accredited conduit banks / participating financial institutions (PFIs);
- To create employment opportunities by increasing the capacity utilization or modernization of plant and equipment of selected companies; and
- To further diversify SSS investments and to efficiently use its resources consistent with its earnings, liquidity and risk targets.
Eligible Borrowers: Existing and Start-up enterprises with the following qualifications:
- Engaged in Agribusiness (contract growing, aquaculture), Food Processing (rice, oil, feedmill, meat processing), Manufacturing (garments, ceramics, textile, furniture, construction materials, etc.), Service Oriented Enterprises (transportation, warehousing, utilities, etc.), Tourism Related Projects (hotels, resorts, theme parks, etc.), and Real Estate Development Projects (industrial estate development, commercial);
- Have an asset size of at least P60.0 million;
- Have a debt-equity ratio not exceeding 75/25 after financing;
- Have proven track record of profitability;
- Be at least 70% Filipino-owned, for corporation;
- Not have defaulted in the payment of interest on any of its debts, securities or loans; and
- SSS member-employer of good standing
Loan Purposes:
- Modernization of plant and equipment resulting to an increase in production capacity;
- Civil works and construction of building.
- Increasing capacity utilization of existing firms;
- Additional / new capacity; and
- Acquisition of land.
Terms/Requirements:
Amount: Minimum of P51.0 Million; Maximum of P500.0 Million (75% of the requirement of the project but not to exceed P500.0 Million or loan value of collateral whichever is lower). For land acquisition, the loanable amount is up to 40% of its cost but
not to exceed 40% of SSS loan.
Interest Rate: subject to review every five (5) years
- To PFI:
- over 1-3 years - 9%
- over 3-5 years - 11%
- over 5 years - 12%
- To End-user: PFI's option.
Maturity / Repayment: Maximum often (10) years, in equal monthly, quarterly or semi-annual payments depending on the cash flow requirements of the project. Grace period for amortization of the principal may be given on a case-to-case basis, but not to exceed 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.ph
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September 8th, 2009 - 15:28
Looking for financing for my 28 room resort that is currently being built in Boracay.The land is fully titled.Thank you.
Joven
November 3rd, 2009 - 20:16
Joven Antolin
Please email me at dcquitan@yahoo.com or contact me at 09085946641 or 09277922945. I can assist you in your loan.
Thank you.
Dario Quitan
January 1st, 2010 - 11:14
I have a small property in Mindanao which I plan to construct apartments for rent. If anyone can help me find an additional capital.
Thanks,
Evelyn
June 24th, 2010 - 14:11
I HAVE A CANDY MANUFACTURING BIZ HERE IN ZAMBOANGA CITY, BEEN IN THE MARKET(LOCAL GROCERY) FOR MORE THAN 14 YEARS,WE NEED TO DEVELOPED OUR PLANT AND PRODUCT,I HAVE NO COLLATERAL,BUT I HAVE ALL MY CLIENTS(GROCERIES) THEIR TRUST AND CHARACTER. CAN ANYONE HELP ME ON IT.
SOTTO’S DELICACIES REG UNDER THE RULES AND REGULATION OF THE REPUBLIC OF THE PHILIPPINES TRU DTI,BIR,BFAD AND LOCAL GOVERNMENT
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