Social Development Loan Facility

OVERVIEW

ELIGIBILITY REQUIREMENTS

HOW TO APPLY

LOAN DETAILS

1. Eligible Borrowers

   1. New or existing private medical institutions licensed by the Department of Health (DOH) either as primary, secondary and tertiary hospital including institutions for the aged or infirmed individuals.

   2. New or existing private educational institutions, i.e. toddler/day care learning center, preparatory/elementary/secondary schools, collegiate/university level, school for special educations (SPED) as well as vocational and technical institutes which are duly licensed by the Department of Education (DepEd), Technical Education and Skills Development Authority (TESDA), Commission on Higher Education (CHED) and Department of Social Welfare and Development (DSWD).

   3. At least 60% Filipino-owned corporation/partnership/single entity

   4. Have proven track record of profitability for existing enterprises; provided that if the company incurred losses in any year during the past three (3) years, the average income of past two (2) or three (3) years should be positive.  The three (3) year track record of profitability may be waived for enterprises which started operations during the last five (5) years.  In any case, the borrower should be able to justify projection of viable operations with debt-equity ratio not exceeding 3:1 after financing; and

   5. Must be an SSS member-employer in good standing.
      

   6. The borrower is also subject to other criteria and policies which the Social Security Commission may impose from time to time.

2. Loan Purposes
   

The loan may be used for the following purposes:

1. Site development;
2. Enhancement or modernization of existing facilities;
3. Construction or repair of building and other civil works;
4. Acquisition or repair/upgrading of machinery and equipment including furnishings and other educational materials;
5. Acquisition of existing facilities;
6. Acquisition of land (up to 50% of the acquisition cost); or
7. Working capital

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