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

Sustainable Partnership for Eco-Enterprise Development (SPEED)

Program Title: Sustainable Partnership for Eco-Enterprise Development (SPEED)
Program Objectives:

• To harness the entrepreneurial capacities of the marginalized sector through direct and effective delivery of financial and enterprise development services that are appropriate to community-based enterprises, development organizations and individual private social entrepreneurs.
• To provide assistance to those emerging enterprises that promote eco-enterprise principles and at present not covered by services within the Foundation's sub-sector-specific programs.

Eligible Borrowers:

• Non-Government Organizations (NGOs), People's Organizations (POs), Cooperatives, Federations, Unions, Industry Associations
• Private Individual/Single Proprietor
• Private Corporations

Financial Products and Services:

• Loan (Term Loan, Credit Line)
• Guarantee
• Equity/Joint Venture

Terms/Requirements:

Amount: Minimum of P500.000.00; Maximum of P15.0 Million (Maximum of P5.0 Million for first time borrowers)

Interest Rate:

• For NGOs, POs, Coops & Unions - prevailing 364-day Treasury Bill Rates + 2% SF + RVAT
• For Private Social Enterprise - prevailing 364-day Treasury Bill Rates + 4% SF + RVAT

Maturity / Repayment: One to five years maturity in monthly, quarterly, semi-annual, or annual payments

Security:

• 75% Real Estate Mortgage or « Chattel Mortgage
• Deed of Assignment
• Joint and Several Suretyship (JSS) Agreement

Contact Details:

Mr. Arlen Barrameda
Senior Program Officer Phone/Fax: (632) 928.8671 e-mail: arlen@fssi.com.ph

Mr. Amado Reclusado, Jr.
Project Officer Phone/Fax: (632) 928.8671 e-mail: areclusado@fssi.com.ph

Mr. Reynante Maruquez
Technical Officer Phone/Fax: (632) 928.8671 e-mail: rvmaruquez@fssi.com.ph