1. ENTREPRE- YOUTH: PAGTAHAK SA PANGARAP PROGRAM
ENTREPRENEURS HIP FOR THE YOUTH PROGRAM |
Provides liberal financing facilities to ind. aged 18-25 years to encourage them to
engage in entrepreneuring activities The program will support young individ- uals who have under- gone training program on entrepreneurship or to those who can prove they are familiar on the business
to be financed |
The program is open to young individuals aged 18-25 whose projects áre along the lines
of: *agri-business and marketing *manufacturing
*services;and *Trading |
*asset size not exceed P60M (excluding the lot where prop/bus. Is built)*
sole prop., partnership, corp.,coops or assoc. * if single prop/partner-ship, business shld. be 100% filipino owned; *
if juridical entity, 60% of capital or outstanding stocks shld be owned by Filipinos. * the borrower should
show strong familiarity in the business by way of exposure or training; * the business is not a branch,subsidiary or division of a bigger
company; * the business shld be registered at the area/loc. where the borrower
filed his appl'n. for financing; * the borrower shld have resided for at least 3 yrs. in the area where
he filed his loan application. |
* for fixed asset acquisition (except purchase of land) * working capital (permanent or otherwise) |
Up to 80% of fixed asset req't. Up to P2.0M for working capital |
*Cert.of completion of relevant
entre.Training * If single prop./part. -cert.of Reg. Of Trade - Name with the DTI
-Bio-data of propietor/ partners * If
corporation: -Art. Of Inc.& Cert. Of filing with the SEC -Roster of officers & directors & their respec tive share holdings -Audited Financial
Statements for the last 3 yrs. -supporting documents on planned collateral *If Real Estate
-photocpy of the land title that can be mortgaged -location plan certified by a geodetic eng'r. -tax declaration -photocopy of real estate tax receipt
* If Chattel Mortgage -list of mach./eqpt. - bldg.plans and bills of materials (if planning
to contstruct a new one) - pro-forma invoices (if
planning to purchase new machineries) |
Any combinations of the following: * Real prop.&
improvement * Machinery and eqpts. * Deposit
hold-out * Deed of Assignment, Inventories or
Receivables * Joint & Several Signatures of Principal Stockholders/Offi cers If collateral is not sufficient,
and if the proj. so requires, the proj. shld.be enrolled under the guarantee program of SBGFC or GFSME. |
Interest rate must be based on prevailing market rates. |
Loan repayments will be based on the proj. cash flow up to a minimum of 5 yrs. When the
prpoject so requires, a grace period of not more than one year for the repayment of the principal can be given. Based on project cash flow but not more than 15 years including maximum grace period of three
(3) years. |
