28Nov/08412
Micro-Lending Through Rural Banks
Program Title: Micro-Lending Through Rural Banks: (MICRO-LOCAL)
Eligible Borrowers: Micro, Small and Medium Enterprise (MSME)-Oriented Rural Banks
- May be a start-up in micro-finance, but minimum of three (3) years as a bank
- Minimum number of micro-finance clients: If a start-up, should plan for at least fifty (50) clients
- Minimum manpower in micro-finance operations: If a startup, should plan for at least three (3)
- Minimum asset size: Per BSP guidelines
- Minimum current ratio of 1:2
- Maximum debt-equity ratio after loan: Per BSP guidelines
Loan Purpose: For re-lending to microentrepreneurs. Terms/Requirements:
- Amounts: Minimum of P200.000.00; Maximum of P50.0 Million for the 1st year with SB Corp; double of first year for succeeding years with SB Corp
- Loan Availment per Drawdown: Minimum of P100.000.00; Maximum of P2.0 Million or 20%, whichever is higher
- Interest Rate: Retail lending rate less 0.5% if start-up in micro-finance; up to 2.5% points less
Service Fees:
- Evaluation Fee (once a year) - 0.1% of loan amount but not less than P3.000.00
- Availment Processing Fee - 0.25% of availment but not less than P1.000.00
- Out-of-town Processing Fee - same as retail lending
Total Effective Rate (excluding out-of-town processing fee):
- Large Micro Finance-Oriented Institutions - 9.35% per annum minimum; 11.35% p.a. maximum
Contact Details
Ms. Luna C. David, OIC - Finance and Guarantee Sector
Small Business Corporation (Small Business Guarantee and Finance Corporation)
17 & 18 Firs, Antel Corporate Centre,
139 Valero Street Salcedo Village, Makati City
Phone: (02) 751-1888
Fax: (02) 813-5726, 894-1677
Email: ldavid@sbgfc.org.ph
Web: www.sbgfc.org.ph
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