SME Impact
What do we support?
Eligible SMEs
- Registered (DTI, SEC or CDA)
- With at least 3 years of profitable operations
- With bank (checking) account
- Must show verifiable benefit to people and community (taxes, permits, employment etc.)
Note: Start-ups may be entertained under exceptional cases (high impact livelihood activity).
Qualified Livelihood Activities
- Manufacturing and production
- Processing (food) activities
- Agri and agri-related projects
- Projects related to health, housing and education
- Projects protecting and promoting the environment (waste recycling, solar and clean energy)
Projects with extra-ordinary social development (high) impact are given interest discount.
Loan Procedures
- In-Take – quick interview (10-15 mins) to check if SME meets SME-ICC min criteria.
- Submission of Documents – submission of filled-up loan application with attached supporting requirements.
- Table Evaluation – preliminary review of the loan application and documents submitted
- Due Diligence – actual visit to the SME to validate information provided (1 day). Simultaneously, the credit and background investigations are conducted.
- Approval – (or disapproval) within 3 days from submission of complete documents. For re-availing clients with excellent repayment record (ERR Clients), 1-2 days and via FinTech or Digital approval.
- Disbursement/Release – loan is disbursed via check at the SME-ICC office. For ERR clients, loan release is via auto credit to bank account or bank deposit
- Repayment – the SME borrower is required to issue post-dated checks to facilitate collection of loan amortizations.
Documentary Requirements
SME loan applicants should submit:
- Filled-up Loan Application Form (available on-line upon request)
- Photocopy of:
- Business Permit
- DTI – for sole proprietor ( Registration documents )
- SEC – for Corporation and partnership ( Registration documents )
- CDA – for Cooperative ( Registration documents )
- Bank Statements (last 6 months)
- Valid Identification Card
Our Interest Rate
- Higher than bank rate but is significantly lower than other non-bank lenders.
- We are the SMEs’ next best option
- We adopt a risk-based loan pricing (factored in all risks and extend interest discounts for extra-ordinary impact).
Policy on Collateral
Ø We do not approve a loan solely on the basis of collateral neither do we disapprove a loan for reason of lack of collateral.
Ø Collateral is required depending on the amount of loan requested and on the risk profile of the SME borrower.
