Today, I receive all God’s love for me. Today, I open myself to the unbounded, limitless, overflowing abundance of God’s Universe. Today, I open myself to your Blessings, healing and miracles.Today, I open myself to God’s Word so that I become more like Jesus Everyday. Today, I proclaim that I’m God’s Beloved, I’m God’s Servant, I’m God’s powerful champion, And because I am blessed, I will bless the world, In Jesus Name, Amen.

RUPTURED BRAIN ANEURYSM: Living with a Broken Brain

RUPTURED BRAIN ANEURYSM: Living with a Broken Brain. A unique insight into the fragility of the extraordinary human brain. A true st...

Saturday, January 8, 2011

SSS Members Business Loans


 
sulong icon (2052 bytes)



What is the SULONG Program?
The SME Unified Lending Opportunities for National Growth (SULONG) Program by government financial institutions (GFIs) designed to give small and medium enterprises (SMEs) greater access to short and long term funds. The program has a total fund allocation of P100 Million. The program has a total fund allocation of P100 million.
How can an SSS member avail himself of the loan program?
The loan facility is available thru SSS-accredited participating financial institutions (PFIs)/banks which will on-lend the fund to eligible borrowers for financing.
For what purposes may the loan be used?
 
The loan may be used for the following purposes: For Short-term loans:
  • Export financing (Export Packing Credit)
  • Temporary Working Capital
For Long-term loans:
  • Purchase of equipment
  • Building construction
  • Purchase of lot
  • Permanent working capita
Eligible borrowers shall be existing private enterprises with the following qualifications:
  • enterprises in all industries except trading of imported goods, liquor, cigarettes, and extractive industries like mining or quarrying;
  • are at least 60 per cent Filipino owned;
  • enterprises with asset size of not more than P100 million, excluding land;
  • have positive income for the previous year. If the previous year's income is negative, the average income of the past 2 or 3 years should be positive;
  • have debt-to-equity ratio of not more than 80:20 after financing, or 70:30 if borrower is a franchisee;
  • are SSS member-employers of good standing.
How much is the loanable amount?
 
For short-term loans, the program can fund up to 70% of the value of the Letters of Credit or Purchase Order for export packing, or 70% of the working capital requirement up to P5.0 million.For long-term loans, the program can fund up to 80% of the incremental cost, up to a maximum of P5.0 million.
For short-term loans Rate to PFI : Fixed rate based on PDST-F (MART 1) Rate Rate to Borrower : at PFIs option For long-term loans  Rate to PFI : Fixed rate based on prevailing rate of similar tenor but not to exceed 10% Rate to Borrower : at PFIs option
What is the term of the loan?

For short-term loans, the maximum term shall be 1 year.

For long-term loans, the maximum term shall be 5 years, including a 1 year grace period on principal payment.


1 comments:

manik hossain said...

Although some might be productive because of their loans http://www.businessloanconsultants.com/ , they will additionally experience the managing guitar strings attached to your arrangement.

Post a Comment

Welcome

 

Travel, Photographs and Lifestyle Copyright © 2010 LKart Theme is Designed by Lasantha