SBGFCSBGFC Micro Finance ProgramMicro Finance Program
SBGFCSBGFC Micro Finance ProgramMicro Finance Program
As funded by a US$15Million ODA loan from International Fund for Agricultural Development (IFAD)
As funded by a US$15Million ODA loan from International Fund for Agricultural Development (IFAD)
Our Objective Our Objective
Reducing Reducing poverty poverty through through Micro Micro Finance.Finance.
Reducing Reducing poverty poverty through through Micro Micro Finance.Finance.
Micro Finance ProgramMicro Finance Program
The SBGFCMicro Finance ProgramThe SBGFCMicro Finance Program
Lending guidelines is differentiated based on the category or nature of operation of the conduit.
Large, focused, well established MFIs shall be allowed higher loan limits relative to young, small micro-finance providers.
Eligibility criteria for large conduits is stricter, but has wider incentives in terms of loan terms including pricing.
Lending guidelines is differentiated based on the category or nature of operation of the conduit.
Large, focused, well established MFIs shall be allowed higher loan limits relative to young, small micro-finance providers.
Eligibility criteria for large conduits is stricter, but has wider incentives in terms of loan terms including pricing.
The SBGFCMicro Finance ProgramThe SBGFCMicro Finance Program
Participation by small conduits in the poorest provinces, as identified by IFAD thru its Rural Micro Enterprise Promotion Program (RuMEPP), shall be allowed through a relaxation of the eligibility criteria.
SBGFC will assist small conduits in their capability-building requirements thru the technical assistance component of the IFAD loan.
Participation by small conduits in the poorest provinces, as identified by IFAD thru its Rural Micro Enterprise Promotion Program (RuMEPP), shall be allowed through a relaxation of the eligibility criteria.
SBGFC will assist small conduits in their capability-building requirements thru the technical assistance component of the IFAD loan.
The SBGFCMicro Finance ProgramThe SBGFCMicro Finance Program
Target end-borrowers are pre-enterprise pre-enterprise microsmicros, which are either:
Target end-borrowers are pre-enterprise pre-enterprise microsmicros, which are either:
Start-up micro entrepreneurs Not registered With no or limited credit and livelihood track record No tangible business assets
Graduating micro entrepreneurs Willing to register as an enterprise Have a livelihood track record of at least one year Have a credit track record with an MFI With some tangible business assets
Start-up micro entrepreneurs Not registered With no or limited credit and livelihood track record No tangible business assets
Graduating micro entrepreneurs Willing to register as an enterprise Have a livelihood track record of at least one year Have a credit track record with an MFI With some tangible business assets
Micro Finance Facilities
MICRO-LEAD Lending through Lead Microfinance Institutions
MICRO-LOCAL Lending through MSME Rural Banks
MICRO-LEAP Lending through Small Microfinance Providers
Micro Finance Facilities
MICRO-LEAD Lending through Lead Microfinance Institutions
MICRO-LOCAL Lending through MSME Rural Banks
MICRO-LEAP Lending through Small Microfinance Providers
The SBGFC The SBGFC Micro Finance FacilitiesMicro Finance FacilitiesThe SBGFC The SBGFC Micro Finance FacilitiesMicro Finance Facilities
MICRO-LEADMICRO-LEADMICRO-LEADMICRO-LEADLending thru lead micro finance institutions whose
lending portfolio and organizational structure are predominantly or at least 60% micro finance.
Lending thru lead micro finance institutions whose lending portfolio and organizational structure are
predominantly or at least 60% micro finance.
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Target ConduitsTarget Conduits
Medium and large microfinance institutions (MFIs) Medium and large microfinance institutions (MFIs)
Purpose of LoanPurpose of Loan
Retail re-lending to micro borrowers
Wholesale re-lending to MFIs
Retail re-lending to micro borrowers
Wholesale re-lending to MFIs
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Loan AmountLoan Amount
Medium MFIs
- Minimum of P3 Million- Maximum of P50 Million on the first year - Maximum of P100 Million on succeeding years
Large MFIs
- Minimum of P15 Million- Maximum of P100 Million on the first year - Maximum of P200 Million on succeeding years
Medium MFIs
- Minimum of P3 Million- Maximum of P50 Million on the first year - Maximum of P100 Million on succeeding years
Large MFIs
- Minimum of P15 Million- Maximum of P100 Million on the first year - Maximum of P200 Million on succeeding years
Line DrawdownLine Drawdown
Minimum of 5%, up to 20% of credit line per drawdown Minimum of 5%, up to 20% of credit line per drawdown
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Term and Line ExpiryTerm and Line Expiry
One year credit line, subject to renewal
One year only; may be up to 2 years, but only if justified by nature of micro-borrowers’ business as in the case of graduating micros
One year credit line, subject to renewal
One year only; may be up to 2 years, but only if justified by nature of micro-borrowers’ business as in the case of graduating micros
Repayment Term per DrawdownRepayment Term per Drawdown
360 days, payable quarterly 360 days, payable quarterly
SecuritySecurity
Continuing Surety Agreement on principals Continuing Surety Agreement on principals
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Minimum Qualifications of MFI-Borrower Minimum Qualifications of MFI-Borrower
Eligibility Eligibility
CriteriaCriteriaMedium-sized Medium-sized
MFIsMFIsLarge-sized Large-sized
MFIsMFIs
Years in microfinance At least 3 At least 10
No. of borrowers At least 3,000; at least 10 conduits,
if wholesaler
At least 20,000; at least 20 conduits, if wholesaler
Manpower At least 20; at least 10,
if wholesaler
At least 100; at least 20,
if wholesaler
Microfinance portfolio
At least 60% At least 60%
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Micro Finance Micro Finance Facility-Facility-MICRO-LEADMICRO-LEAD
Minimum Qualifications of MFI-Borrower Minimum Qualifications of MFI-Borrower
Financial Financial
RatiosRatiosMedium-sized Medium-sized
MFIsMFIsLarge-sized Large-sized
MFIsMFIs
Current Ratio 1.2; 1.0, if bank
1.2;1.0, if bank
Capital Adequacy Ratio
At least 20% (10% if bank, per BSP guidelines)
At least 20% (10% if bank, per BSP guidelines)
Microfinance Portfolio at Risk (PAR)*
Not more than 10%
Not more than 8%
MFIs in the RuMEPP priority provinces that do not pass the PAR requirement may still be considered for accreditation if they have a CAR of not less than 20% and a PDR of not more than 10%
MFIs in the RuMEPP priority provinces that do not pass the PAR requirement may still be considered for accreditation if they have a CAR of not less than 20% and a PDR of not more than 10%
MICRO-LOCALMICRO-LOCALMICRO-LOCALMICRO-LOCALMicro lending thru MSME-oriented rural and
cooperative banks.Micro lending thru MSME-oriented rural and
cooperative banks.
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Target ConduitsTarget Conduits
Rural Banks
-may be start up in micro finance
Cooperative Banks
Rural Banks
-may be start up in micro finance
Cooperative Banks
Purpose of LoanPurpose of Loan
Retail re-lending to micro borrowers Retail re-lending to micro borrowers
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Loan AmountLoan Amount
Minimum of P200 Thousand
Maximum of P50 Million on the first year
Maximum of P100 Million on the succeeding years
Minimum of P200 Thousand
Maximum of P50 Million on the first year
Maximum of P100 Million on the succeeding years
Line DrawdownLine Drawdown
Minimum of P100 Thousand
Maximum of 20% of credit line
Minimum of P100 Thousand
Maximum of 20% of credit line
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Term and Line ExpiryTerm and Line Expiry
One year credit line, subject to renewal
One year only; may be up to 2 years, but only if justified by nature of micro-borrowers’ business as in the case of graduating micros
One year credit line, subject to renewal
One year only; may be up to 2 years, but only if justified by nature of micro-borrowers’ business as in the case of graduating micros
Repayment Term per DrawdownRepayment Term per Drawdown
360 days, payable quarterly 360 days, payable quarterly
SecuritySecurity
Continuing Surety Agreement on principals (must)
Hard collateral may be required if start up in microfinance
Continuing Surety Agreement on principals (must)
Hard collateral may be required if start up in microfinance
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Minimum Qualification of MFI-BorrowerMinimum Qualification of MFI-Borrower
1. Track record - at least 3 years as a bank; may be on start up basis in microfinance
2. Microfinance clients - At least 50; if start up, must plan for at least 50
3. Manpower – At least 3 exclusively for microfinance operations; if start up, should plan for at least 3
4. Asset size – Should conform with BSP guidelines
5. CAMELS rating – At least “3”
1. Track record - at least 3 years as a bank; may be on start up basis in microfinance
2. Microfinance clients - At least 50; if start up, must plan for at least 50
3. Manpower – At least 3 exclusively for microfinance operations; if start up, should plan for at least 3
4. Asset size – Should conform with BSP guidelines
5. CAMELS rating – At least “3”
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Micro Finance Micro Finance Facility-Facility-MICRO-LOCALMICRO-LOCAL
Minimum Qualification of MFI-BorrowerMinimum Qualification of MFI-Borrower
6. Financial ratios
Current Ratio – At least 1.0
Capital Adequacy Ratio (CAR) – At least 10% (per BSP guidelines
Microfinance Portfolio at Risk (PAR) - Not more than 10%
Past Due Rate – Should not exceed 20%, preferably within industry average
6. Financial ratios
Current Ratio – At least 1.0
Capital Adequacy Ratio (CAR) – At least 10% (per BSP guidelines
Microfinance Portfolio at Risk (PAR) - Not more than 10%
Past Due Rate – Should not exceed 20%, preferably within industry average
MICRO-LEAPMICRO-LEAPMICRO-LEAPMICRO-LEAPMicro lending thru small microfinance providers such as
community cooperatives and local non-government organizations (NGOs) or people’s organizations (POs)
who do not meet the SBGFC standards under Micro-LEAD.
Micro lending thru small microfinance providers such as community cooperatives and local non-government
organizations (NGOs) or people’s organizations (POs) who do not meet the SBGFC standards under
Micro-LEAD.
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Target ConduitsTarget Conduits
Small Community Cooperatives
Small Non-Government Organizations (NGOs)
People’s Organizations (POs)
Lending Companies
Small Community Cooperatives
Small Non-Government Organizations (NGOs)
People’s Organizations (POs)
Lending Companies
Purpose of LoanPurpose of Loan
Retail re-lending to micro borrowers Retail re-lending to micro borrowers
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Loan AmountLoan Amount
Minimum of P200 Thousand
Maximum of P10 Million on the first year
Maximum of P20 Million on the succeeding years
Minimum of P200 Thousand
Maximum of P10 Million on the first year
Maximum of P20 Million on the succeeding years
Line DrawdownLine Drawdown
Minimum of P100 Thousand
Maximum of 20% of credit line
Minimum of P100 Thousand
Maximum of 20% of credit line
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Term and Line ExpiryTerm and Line Expiry
One year credit line, subject to renewal
One year only; may be up to 2 years, only if justified by nature of micro-borrowers’ business as in the case of graduating micros
One year credit line, subject to renewal
One year only; may be up to 2 years, only if justified by nature of micro-borrowers’ business as in the case of graduating micros
Repayment Term per DrawdownRepayment Term per Drawdown
360 days, payable quarterly 360 days, payable quarterly
SecuritySecurity
Continuing Surety Agreement on principals (must)
Hard collateral may be required on case to case basis
Continuing Surety Agreement on principals (must)
Hard collateral may be required on case to case basis
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Minimum Qualifications of MFI-BorrowerMinimum Qualifications of MFI-Borrower
1. Asset size – At least P500 Thousand (P1.5 Million for lending companies)
2. Net Worth – At least P300 Thousand
3. Track record - at least 1 year microfinance operations (at least 3 years for lending companies)
4. Microfinance clients - At least 20 micro borrowers
5. Manpower – At least 2, one of whom may be part-time
1. Asset size – At least P500 Thousand (P1.5 Million for lending companies)
2. Net Worth – At least P300 Thousand
3. Track record - at least 1 year microfinance operations (at least 3 years for lending companies)
4. Microfinance clients - At least 20 micro borrowers
5. Manpower – At least 2, one of whom may be part-time
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Micro Finance Micro Finance Facility-Facility-MICRO-LEAPMICRO-LEAP
Minimum Qualification of MFI-BorrowerMinimum Qualification of MFI-Borrower
6. Financial ratios
Current Ratio – At least 1.2
Capital Adequacy Ratio – At least 20%
Microfinance Portfolio-at-Risk (PAR) * – Not more than 10%
Past Due Rate – Not more than 20%
6. Financial ratios
Current Ratio – At least 1.2
Capital Adequacy Ratio – At least 20%
Microfinance Portfolio-at-Risk (PAR) * – Not more than 10%
Past Due Rate – Not more than 20%
MFIs in the RuMEPP priority provinces that do not pass the PAR requirement may still be considered for accreditation if they have a CAR of not less than 20% and a PDR of not more than 10%
MFIs in the RuMEPP priority provinces that do not pass the PAR requirement may still be considered for accreditation if they have a CAR of not less than 20% and a PDR of not more than 10%
MICRO-LEAD Minimum - Maximum - MICRO-LOCAL Minimum -
Maximum -
MICRO-LEAP Cooperatives -
Other Conduits -
MICRO-LEAD Minimum - Maximum - MICRO-LOCAL Minimum -
Maximum -
MICRO-LEAP Cooperatives -
Other Conduits -
Interest RatesInterest Rates
9.5% p.a.9.5% p.a.9.7% p.a.9.7% p.a.
9.5% p.a.9.5% p.a.11.0% p.a.11.0% p.a.
11.0% p.a.11.0% p.a.10.5% p.a.10.5% p.a.
(Starting Nov. 23, 2007)(Starting Nov. 23, 2007)
Service FeesService Fees
FEESFEES
Micro Finance FacilityMicro Finance Facility
MICRO-LEADMICRO-LEAD MICRO-LOCALMICRO-LOCAL MICRO-LEAPMICRO-LEAP
Evaluation Fee 0.05% of approved credit line but not less than P3,000
0.1% of approved credit line but not less than P3,000
0.2% of approved credit line but not less than P3,000; 0.5% for lower classification conduits
Processing Fee 0.1% of loan availment
0.25% of loan availment but not less than P1,000
0.5% of loan availment but not less than P1,000
Out-of-Town Fee
None for MFIs based in Metro Manila, Cebu and Davao CityP2,000 for CALABAR and Region 3 provincesP4,000 or actual airfare for the rest of the country
Pass-on Rate Incentive
Pass-on Rate Incentive
Incentive is given to MFI conduits whose average monthly pass-on rate, inclusive of service fees, is kept at
2.5% for retailers
1.2% for wholesalers
Incentive is given to MFI conduits whose average monthly pass-on rate, inclusive of service fees, is kept at
2.5% for retailers
1.2% for wholesalers
Evaluation and availment processing fees, which are deducted from MFI’s loan proceeds, will be returned in a form of a rebate upon credit line renewal.
Evaluation and availment processing fees, which are deducted from MFI’s loan proceeds, will be returned in a form of a rebate upon credit line renewal.
Documentary Documentary RequirementsRequirementsDocumentary Documentary RequirementsRequirements
1. Accomplished Loan Application Form (SBGFC form)
2. Notarized Client Information Sheet with 1x1 recent ID picture of each principal stockholder/officer (SBGFC form)
3. Business registration papers
4. Board Resolution to borrow and on authorized signatories with specimen signature/s
5. Audited Financial Statements for the past 3 years, if applicable
6. Latest interim Financial Statements (not more than 6 months old)
1. Accomplished Loan Application Form (SBGFC form)
2. Notarized Client Information Sheet with 1x1 recent ID picture of each principal stockholder/officer (SBGFC form)
3. Business registration papers
4. Board Resolution to borrow and on authorized signatories with specimen signature/s
5. Audited Financial Statements for the past 3 years, if applicable
6. Latest interim Financial Statements (not more than 6 months old)
Upon Application/Line AccreditationUpon Application/Line Accreditation
Documentary Documentary RequirementsRequirementsDocumentary Documentary RequirementsRequirements
7. Organizational Structure/Background Information
8. Schedule of borrowings including repayment term, collateral cover and credit status
9. Certificate of Good Standing from creditors (if applicable)
10.Aging of loan portfolio
11.Schedules of the following: Past due loans Microfinance PAR, if applicable Loan-loss provisioning
7. Organizational Structure/Background Information
8. Schedule of borrowings including repayment term, collateral cover and credit status
9. Certificate of Good Standing from creditors (if applicable)
10.Aging of loan portfolio
11.Schedules of the following: Past due loans Microfinance PAR, if applicable Loan-loss provisioning
Documentary Documentary RequirementsRequirementsDocumentary Documentary RequirementsRequirements
1.1. Updated financial statements Updated financial statements (with MF-PAR schedule, if applicable)(with MF-PAR schedule, if applicable)
Strictly not more than 2 months old from date of loan availment and Strictly not more than 2 months old from date of loan availment and
should reflect past 20% availmentshould reflect past 20% availment
2.2. Sub-borrower validationSub-borrower validation** report, to be done by SBGFC Monitoring report, to be done by SBGFC Monitoring
Dept. Dept. (for conduits with at least P2.0 Million credit line only)(for conduits with at least P2.0 Million credit line only)
Large MFIs – – every 20% or P5 Million availment, whichever is higherevery 20% or P5 Million availment, whichever is higher
Medium-sized MFIs – – every 20% or P1.5 Million availment, every 20% or P1.5 Million availment, whichever is higher whichever is higher
Lower qualification conduits – – every 20% or P2.0 Million every 20% or P2.0 Million availment, whichever is higheravailment, whichever is higher
*Validation of at least 20% of the number of sub-borrowers based on the *Validation of at least 20% of the number of sub-borrowers based on the liquidation report submitted by the MFI or 20 sub-borrowers, whichever is liquidation report submitted by the MFI or 20 sub-borrowers, whichever is lower.lower.
1.1. Updated financial statements Updated financial statements (with MF-PAR schedule, if applicable)(with MF-PAR schedule, if applicable)
Strictly not more than 2 months old from date of loan availment and Strictly not more than 2 months old from date of loan availment and
should reflect past 20% availmentshould reflect past 20% availment
2.2. Sub-borrower validationSub-borrower validation** report, to be done by SBGFC Monitoring report, to be done by SBGFC Monitoring
Dept. Dept. (for conduits with at least P2.0 Million credit line only)(for conduits with at least P2.0 Million credit line only)
Large MFIs – – every 20% or P5 Million availment, whichever is higherevery 20% or P5 Million availment, whichever is higher
Medium-sized MFIs – – every 20% or P1.5 Million availment, every 20% or P1.5 Million availment, whichever is higher whichever is higher
Lower qualification conduits – – every 20% or P2.0 Million every 20% or P2.0 Million availment, whichever is higheravailment, whichever is higher
*Validation of at least 20% of the number of sub-borrowers based on the *Validation of at least 20% of the number of sub-borrowers based on the liquidation report submitted by the MFI or 20 sub-borrowers, whichever is liquidation report submitted by the MFI or 20 sub-borrowers, whichever is lower.lower.
Subsequent Loan Release RequirementsSubsequent Loan Release Requirements
Documentary Documentary RequirementsRequirementsDocumentary Documentary RequirementsRequirements
3.3. Simple listing of end-borrowers using SBGFCSimple listing of end-borrowers using SBGFC format format
With proof and details of prior disbursements With proof and details of prior disbursements if credit line if credit line is less than P2.0 Millionis less than P2.0 Million
4.4. Other pre-release documents for succeeding availments, as Other pre-release documents for succeeding availments, as required by SBGFCrequired by SBGFC
3.3. Simple listing of end-borrowers using SBGFCSimple listing of end-borrowers using SBGFC format format
With proof and details of prior disbursements With proof and details of prior disbursements if credit line if credit line is less than P2.0 Millionis less than P2.0 Million
4.4. Other pre-release documents for succeeding availments, as Other pre-release documents for succeeding availments, as required by SBGFCrequired by SBGFC
Subsequent Loan Release RequirementsSubsequent Loan Release Requirements
HEAD OFFICE
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HEAD OFFICE
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SBC OfficesSBC Offices
LUZON OFFICESLUZON OFFICES
LA UNION DESK OFFICE
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SBC OfficesSBC Offices
TACLOBAN DESK OFFICE
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VISAYAS OFFICESVISAYAS OFFICES MINDANAO OFFICESMINDANAO OFFICES
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Microfinance
gives a poor person
a chance to take
destiny in his hands
and get out of poverty with his efforts.
“… “… the rural micro entrepreneurs the rural micro entrepreneurs
are the are the innovatorsinnovators, the , the risk-risk-
takerstakers, the , the hardworkershardworkers and and
the the heroesheroes..
All that we can do is to improve All that we can do is to improve
their access to the means they their access to the means they
can use to achieve their own can use to achieve their own
ends.” ends.”
– Professor Malcolm Harper
Thank you.Thank you.