SME-FEASIBLE (Financing for Enterprising and Able Start-Ups With Innovative Business)
Program Title: SME-FEASIBLE (Financing for Enterprising and Able Start-Ups With Innovative Business)
Program Objective: A direct lending facility for start-up domestic entrepreneurs.
Eligible Borrowers:
- Filipino-owned enterprise, in the case of corporation must be at least 60% Filipino-owned;
- Project to be financed not into farm-level agri-aqua production, extractive activities or vice-generating operations;
- Must be willing and able to finance at least 50% of the cost of the start-up project; and,
- Should have a business plan, which the borrower should be able to expound on and to defend.
Priority Projects:
- The product or service prototype has already been produced and market-tested by the borrower.
- The technology set-up of the project is endorsed by the Department of Science and Technology (DOST).
Loan Purpose:
- Fixed Asset Acquisition
- Building construction/improvement
- Equipment/vehicle acquisition
- Lot acquisition (limited to 25% of total loan)
- Working Capital (either amortized or credit line)
Terms/Requirements:
Amount:
- Minimum of P200,000.00
- Up to 50% of total project cost; the other 50% should be financed by equity
- Not more than P1.5 Million
Interest Rate:
- Up to 1 year - 9.5% per annum
- Up to 3 years - 13.8% per annum
- Up to 5 years - 14.5% per annum
Service Fees (to be deducted from loan proceeds; no front-end fees):
- Evaluation Fee - Y2 of 1% of approved loan but not less than P3,000
- Processing Fee - V2 of 1% of loan release
- Out-of-town processing fees
- None for Metro Manila, Cebu and Davao
- P2,000 for the CALABAR and Region 3 provinces
- P4,000 or actual air fare for the rest of the country
Commitment Fee: Dated check amounting to P4,000
Maturity / Repayment: Term loan; maximum of 5 years, with up to one year grace period on principal; monthly or quarterly amortization
Security: Real estate, Motor vehicle or fixed assets to be financed by the loan
Documentary Requirements Upon Loan Application:
- Accomplished business loan application form (with picture)
- Notarized client information sheet
- Business registration papers Business Plan
- Applicable endorsement
- Location map of the project
Endorsement Requirement (any of the following):
- Department of Science and Technology (DOST) - for Filipino investors
- Philippine International Trading Corporation - for drugstores accredited under the Botika ng Bayan Program
- DTI-Provincial Office
- No need for endorsement for enterprises based in NCR, CALABAR provinces, Bulacan, Davao and Cebu
Contact Details:
Small Business Corporation (Small Business Guarantee and Finance Corporation)
17th & 18th Firs, Antel Corporate Centre
139 Valero Street, Salcedo Village, Makati City
Direct Lending Program
Ma. Luna C. David
QIC - Finance and Guarantee Sector
Phone: (02) 751-1888
Fax: (02) 813-5726, 894.1677
Email: ldavid@sbgfc.org.ph
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