Program

Short-term loans to persons or entities licensed to engage in export-oriented activities, as well as in activities which, in the determination of TIDCORP, promote and develop the capital goods and import-substitution industries.

 Purpose

Working capital requirements

 Program Features

 

 Eligible Borrowers

Direct Exporters

• With minimum export volume of US$100,000.00 or its equivalent within the last six months prior to application
• Profitable operations for the last 2 years

Indirect Exporter

• Indirectly exporting in the immediately preceding year; and
• Profitable operations for the last 2 years

 Types of Credit
Accommodation

Transactional and/or Revolving Line
 

 Tenor

180 days PN extendible provided that shipment date and/or expiry of LC/CPO is extended but not beyond 360 days.

 Loan Limit

• 80% of the value of the L/C, CPO, CSC and/or export bills provided maximum amount will not exceed P20.0M.
• For indirect exporters, 80% of the value of the receivable from the exporter provided maximum amount will not exceed P20.0 M

 Financial Position

• Maximum debt to equity ratio at 4:1 after financing
• Increasing trend in ROA and ROE

 Collateral

REM/CHM and/or other acceptable collaterals

 Application Fee

P 10,000.00 plus GRT payable upfront upon application, non-refundable

 Processing Fee

1/4 of 1% of approved loan amount plus GRT which may be deducted from the loan proceeds

 Interest Rate

Applicable Base Lending Rate plus Spread

 Out of Pocket Expenses

For account of client as billed

 Taxes

Applicable taxes for account of the borrower