Loanable Amount
1.5M -3M
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Description
It is a 10-Billion financial program specifically designed to accommodate entrepreneurs whose businesses were affected by the lockdown / pandemic.
(Photo by Josh Appel on Unsplash)
Requirements
Loan Term and Service Fee:
1 Year= 4.0%
2 Years= 6.0%
3 Years=7.5%
4 Years= 8.0%
Grace Period
3 months or 6 months at the option of loan applicant
9 months or 12 months for selected industries
Eligibilities
Criteria for loan applicants:
a. With BIR-filled FS in 2018 or 2019
b. No unresolved major negative credit dealings
Loan to be granted to qualified MSMEs shall be limited to the following based on submitted BIR- Filed FS:
Up to 15% of sales and 20% of asset size
Not more than P1.0M.for medium enterprises
Not more than P500K for small enterprises
Not more than 200K for micro-enterprises
Higher loan amount maybe approved to an enterprise with written plan on how to restart or improve its business model
Up to P2.0M for medium enterprises
Up to P1.0M for small enterprises
Up to P300K for micro- enterprise
Loans may further be increased with agreement to rehire or retain
significant number workers
Up to P3.0M for medium enterprises
Up to P1.5M for small enterprises