Easy Pondong Pang-Asenso (EPPA)

Program Objective: A lending program that is specifically packaged to address the financing needs of small entrepreneurs. The program accommodates new/start-up and existing projects with easy collateral requirements and simpler documentation procedures.

Eligible Projects:
* Manufacturing;
* Agri-business and agro-processing (except farm level production); and,
* Services (including trading and merchandising).

Eligible Borrowers/Qualifications:
* Asset size of above P3 Million – P100 Million (excluding value of lot where business is located);
* Sole Proprietorship and Partnership (100% Filipino-owned); and,
* Corporations (at least 60% Filipino-owned).

Loan Purposes: Working capital and fixed asset acquisition (except lot acquisition)

Terms/Requirements:

Loan Amount: Up to 80% of the total project requirement

Interest Rate: Based on prevailing market rate.

Term:
* Credit Line – with one year availability, renewable
* Term Loan – based on the cash flow of project/s financed with maximum of two (2) years grace period on principal payments

Collateral Requirements: Any or combination of, as may be required:
* Real Estate/Chattel Mortgage (REM/CHM)
* Hold-out on Deposits
* Assignment of Receivable and/or Inventory
* JSS of Principal Stockholders/Officers
* Guarantee cover from Small Business Corporation (SB Corporation), if required

Insurance Requirements:
* Insurance on Chattels
* Mortgage Redemption Insurance -132-

Processing 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)

Other Documents to be required (when applicable):
* Copy of LC, pro-forma invoice, PO
* Industry membership/Association Endorsement
* Business Plan/Feasibility Study
* Environmental Compliance Certificate
* HLURB Permit
* List of Banks/Creditors with Dealings
* List of Suppliers/Contact Persons
* Project-related documents
* Collateral documents (copies of TCTs, Tax Declaration, Location Plan, RETR, pro-forma invoice for chattels)
* Brief history of operations
* Copy of BOI registration
* Projected Financial Performance
* Accomplished BBI Sheet

Contact Details:
LAND BANK OF THE PHILIPPINES (LBP)
1598 M.H. Del Pilar corner Dr. J. Quintos Streets, Malate, Manila

Programs Management Department II (PMD II)
Phone: (632) 522, 0000 (632) 551, 2200
   locals 2448, 2589, 2728, or 2650
Telefax: (632) 405.7640
E-mail: sme-pmu@mail.landbank.com