Loanable Amount
up to P500 Million
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Description
The Business Development Loan Facility is a lending facility of the Social Security System (SSS) designed to contribute to the nation's economic growth and development by providing financial assistance to the business sector for the purpose of increasing productivity and enhancing potential earnings through expansion, diversification and other business development projects.
It also aims to support the government's program of invigorating economic activity and providing more employment opportunities.
Requirements
Have proven track record of profitability for existing enterprises; provided that if the company incurred losses in any year during the past three (3) years, the average income of past two (2) or three (3) years should be positive. The three (3) year track record of profitability may be waived for enterprises which started operations during the last five (5) years. In any case, the borrower should be able to justify projection of viable operations with debt-equity ratio not exceeding 3:1 after financing; and
Must be an SSS member-employer in good standing.
How to Apply
SSS member-employers may avail of the loan facility through the SSS accredited participating financial institutions (PFIs) which will on-lend the fund to eligible borrowers for financing.
The loan application shall be filed with any of the SSS-accredited Participating Financial Institutions (PFIs). For the list of accredited PFIs, please contact the Business and Development Loans Department at telephone number 8920-6401 loc. 5115 or thru e-mail at bdld@sss.gov.ph.
Eligibilities
- Single proprietorship, Partnership or Corporation
- As least 60% Filipino owned, including cooperatives and non-governmental organizations
Processing Time
Not indicated