The Development Bank of the Philippines (DBP) Rehabilitation Support Program on Severe Events (RESPONSE) provides rehabilitation financing support to public or private institutions located and/or operating in areas declared in a state of calamity.
With the entirety of the Philippines placed under a State of Calamity since 16 March 2020 pursuant to Presidential Proclamation No. 929, private institutions who are: (1) at least 1 year in operation prior to the calamity; and (2) have good credit standing with banks and major suppliers may pre-qualify for DBP RESPONSE.
Loan terms for private enterprises vary and depend on the need of the institution. Short-term five (5) year loans can be availed at interest rates pegged at prevailing market rate plus a spread of 1% or ten (10) year loans inclusive of 3 years grace period are also available. Moreover, front-end fee, commitment-fee and pre-payment fees will be waived except for loan take-out purposes.
Project Lifeline can help you go through DBP RESPONSE’s checklist to see if you qualify. At no cost. Our volunteers can also help you check other alternatives.
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