DBP OFFERS FLEXIBLE LOANS FOR PRIVATE BUSINESSES

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.

Need help protecting your business during and beyond COVID-19? We’re here to listen and help.

Project Lifeline is a partnership between UnionBank, MOSVELDTT Law, Rappler, and Bounceback PH to provide legal and financial solutions for Business Owners. Just sign-up here and let us help you.