Microfinance Eco-Enterprise Program (MEEP) – FSSI
Program Objectives:
To assist community finance institutions (CFIs) set up windows of financing schemes for the entrepreneurial poor and micro- enterprises entering and participating in eco-enterprise ventures;
To create CFI models that are community oriented, economically viable and integrate ecological concerns in their operation; and
To increase the participation of the entrepreneurial poor and micro-enterprises in the Sustainable Waste Management Sector, Coco Coir Sub-Sectors and other Eco-Enterprises through microfinance.
Eligible Borrowers:
* Non-government Organizations (NGOs), People’s Organizations (POs), Cooperatives, Federations, Unions, Industry Associations
* Rural Banks and Cooperative Banks
Financial Products and Services:
Loan (Term Loan, Credit Line)
Guarantee
Developmental Deposit
Equity/Joint Venture
Terms/Requirements:
Amount: Minimum of P500 Thousand; Maximum of P35.0 Million (Maximum of P5.0 Million for first-time borrowers)
Interest Rate:
For Loans – prevailing 364-day T-Bill Rates + (5 – Project’s EEI rating) + 2% SF + RVAT
For Deposits – prevailing 364-day T-Bill Rates + (5 – Project’s EEI rating) + SF
Maturity / Repayment: One to two years maturity in monthly, quarterly, semi-annual, or annual payments (for Cooperatives, Rural Banks, and NGOs); One to three years maturity in monthly, quarterly, semi-annual, or annual payments (for Federations and Cooperative Banks)
Security: 75% Real Estate Mortgage, or Deed of Assignment Joint and Several Suretyship (JSS) Agreement
Contact Details:
Ms. Ann Marie Torres
Program Manager
Phone/Fax: (632) 928.8671
Mobile: +639209539852
e-mail: atorres@fssi.com.ph
URL: www.fssi.com.ph
Mr. Amado Reclusado, Jr.
Project Officer
Phone/Fax: (632) 928.8671
Mobile: +639209539879
e-mail: areclusado@fssi.com.ph
URL: www.fssi.com.ph
Applicants for grants/funding may submit their project proposal to FSSI office or at fssi@fssi.com.ph. Download the Project Proposal Outline.
Sources: BMSMED, FSSI
Disclaimer: Pinoybisnes.com is not connected in any way with the listed financing programs being offered here. For more information and advice, please call directly the institution involved.
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