Loanable Amount
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Description
This program seeks to finance SMEs to establish or sustain their business with easy and simple requirements. Purposes of the loan can be for working capital, building construction, and acquisition of equipment and machinery. Repayment methods can be short term and long term. Collaterals apply. Interest rates are based on prevailing market rate. Amounts up to 80% of the total project cost; borrower has to put up the remaining 20% as equity, either in cash or in kind.
Requirements
For Single Proprietorship:
• Certificate of Registration with DTI
• Bio-data of applicant Mayor’s Permit
• Income Tax Return (last 3 years)
• Financial Statements (last 3 years, audited)
• Latest Interim Financial Statement
• Statement of Assets and Liabilities
• Projected Financial Statements (for new/start-up business)
For Corporation:
• Corporate Documents
• List of Officers and Directors as certified by Corporate Secretary and Bio-data of Officers/Directors
• Alien Registration Certificate of Foreign Officers
• List of Stockholders and their shareholdings
• Statement of Assets and Liabilities of Officers
• Board Resolutions to: (1) borrow in the amount of and (2) sign in behalf of the company • Financial Statement (last 3 years, audited) • Latest Financial Statement
• Projected Financial Statements (for new/start-up corporations)
How to Apply
Visit your nearest open Land Bank branch or e-mail them at E-mail: sme-pmu@mail.landbank.com
Eligibilities
• Sole proprietorship/Partnership businesses must be 100% Filipino-owned, while corporations must be at least 60% Filipino-owned
• Must be engaged in manufacturing, agribusiness and processing, and services including trading and merchandising
• With minimum asset size of P3 Million and maximum of P100 Million (excluding value of lot where business is built)
Processing Time
Not indicated