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

Small and Medium Enterprise Credit Program (SMEC)

Program Title: Small and Medium Enterprise Credit Program (SMEC)
Program Objectives:

• To provide loans to SMEs through its accredited Intermediary Financial Institutions (IFIs) such as Thrift Banks, Rural Banks, Microfinance Institutions and Cooperatives as conduit for lending; and,
• To provide business support to IFIs and enhance their lending capabilities to improve SMEs productivity and competitiveness.

Eligible Borrowers: Micro, small and medium enterprises who meet the following qualifications:

• For sole proprietorship - the owner must be a citizen or permanent legal resident of the Philippines;
• For corporation, partnership or business organization - Philippine nationals must own more than 50% of the enterprise;
• Have principal place of business in the Philippines;
• Have a 100% privately-owned business with total assets of between P150,000.00 to not more than P100 Million excluding land value.

Loan Purposes: To finance investments of new and expansion of existing businesses for:

• acquisition of fixed assets such as land, building, machinery and equipment;
• payment for related services such as equipment installation, testing and start-up; and,
• working capital.

Loan Amount, Interest, Repayment Terms and Security:
Subject to discussion/negotiation by the Borrower with the IFI.

Contact Details:

Philippine Business for Social Progress (PBSP) - Unit Head
PhilipPine Social Development Center
Magallanes corner Real Streets, Intramuros, Manila
Phone: (02) 527-7741 to 48
Telefax: (02) 527.3751
Emails: pbsp@pbsp.org.ph
Web: www.pbsp.org.ph