SSS Financing Program for Educational Institutions
Program Title: SSS Financing Program for Educational Institutions
Program Objectives:
- To improve access to better educational facilities by providing long-term financial assistance to private educational institutions through the SSS accredited conduit banks / participating financial institutions (PFIs);
- To enhance the country’s economic productivity thru the development of a larger pool of professionals and skilled workers to support the country’s industrial and agricultural expansion; and
- To complement the government’s aim to achieve a better distribution of educational institutions nationwide.
Eligible Borrowers: New or existing private educational institutions in the elementary, secondary, or collegiate/university level which are duly licensed by the Department of Education (DepEd) or the Commission on Higher Education (CHED), may borrow under the program and the borrowing institution must:
- Be at least 60% Filipino-owned;
- Have a proven track record of profitability;
- Maintain a debt-to-equity ratio of 75:25 after financing;
- Be an SSS member-employer of good standing; and,
- Not have defaulted in the payment of any loan obligations or securities.
Loan Purposes:
- Construction of new school buildings including gymnasium, library and other facilities related to school’s operations (sports complex, multi-purpose hall, covered court, track and field, etc.);
- Completion or improvement of existing school buildings; Acquisition or repair/upgrading of school equipment and machinery;
- Repair and reconstruction of school buildings damaged by recent calamities; and
- Acquisition of land.
Terms/Requirements:
Amount: The maximum loanable amount shall be 75% of the total project cost but not to exceed P150.0 Million for primary and secondary schools, P250.0 Million for colleges, and P350.0 Million for universities.
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
| Borrower | To PFI | To End-User |
| 1-3 years over 3-5 years over 5-10 years |
9% 10% 11% |
13% 14% 15% |
Maturity / Repayment: The loan is payable within ten (10) years including a grace period of three (3) years on the principal. The principal balance will be amortized monthly, quarterly or semi-annually together with the interest based on the cash flow projections.
Security: Preferably by a Real Estate Mortgage on the borrower’s property or any collateral 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
Mar 27th, 2009 at 1:42 pm
We are constructing a 4-storey school building and already at the 4th floor stage at Greenpark Pasig City. We need around 5M to finish the building. The total worth of collater is around 25M. Can we possibly acquire the loan amount we need?
Apr 3rd, 2009 at 10:58 am
What are the banks participating in the SSS financing for educational institutions.
Thank you so much for the assistance.
Apr 17th, 2009 at 10:12 am
Mr. David Garcia,
I can help you get the loan you need please call me at 8450835. Our bank can help you.
Jul 23rd, 2009 at 2:42 pm
Sir/Madam:
I’m the Business Manager of Southern Bethany Christian School of Minglanilla, Inc. located at Cebu-South Road, Tulay, Minglanilla-Cebu between the Cebu South Coastal Road and the city of Naga-Cebu. Our school has been operating since March 2003 with an annual average increase of enrollment at 20%. Right now, we have 307 students from pre-elem, elem and high school. We have been given recognition/accreditation from DEPED last December 2008 for all grade levels. Our tuition fee is very affordable because we are committed to build-up a true christian communities by helping or extending the best quality of education at a very reasonable cost. Right now, we are requesting your office to assist us in paying our lot worth P3,500,000. We used our lot as collateral for building construction last 2003 and we are paying it until now (interest plus principal with LandBank). Our loan is in current status but we want to be relieved the burden huge amount of monthly amortization so that we can improve our school facilities without necessarily increasing the school’s tuition fees.
If we can avail the P3,500,000 loan for the school lot with 10 years term, then it could be a best help solve to our school’s financial problem particularly at this time of financial crisis.
Your benevolent assistance on this matter will be highly appreciated.
Thank you.
Very truly yours,
MR. ISMAEL A. RAMIREZ, CPA
Business Manager
Sep 6th, 2009 at 3:57 pm
any gov. agency can help us or give us an idea to finance our project in housing … one of my relative own a 2500 sqm. lot and its vacant as of this time now we are planing to buy this property to sub divide it and build our own house in this area … we are compose of 20 pilipino who are planing to buy and have this property and we are willing to settle the terms of payment in 2 to 5 years to some gov. agency who finance our project.. small comunity housing …. hope any one here can give us an idea how we canget the suficient fund to build this small comunity dream possible. this project is costing around 2 million pesos only to buy the property and sub divide it and documentation needed. your not just helping us but it also helping pilipinos home less to have their own property. more power to all goverment agency in the philippines…
CONTACT INFO: 09187981011 OR email@ buz_man_6900@yahoo.com