When I made an article about MiniStop, a reader asked me about Small Business Corporation (SBC). On my walk around the National Trade Fair, I saw SBC?s exhibit booth. I found out that they had regular briefings every first and third Monday of the month at around 3PM. Luckily, I was able to drop by on last Monday?s briefing.
Their office was at 139 Corporate Center 139 Valero Street, Salcedo Village, Makati City. If you are coming from the Ortigas or Guadalupe area, I suggest you take EDSA up to Buendia Road then turn left at Paseo De Roxas. Just after the stoplight (intersection of Paseo and Makati Avenue), you will the CitiBank Building. Take the right on the road there and you will see Valero St. Unfortunately, this road is one-way and the SBC is on the side before this intersection. The best route would be to go the next road parallel to Valero, Alfaro St. You can then follow that up to the next intersection (Sedena) and find a parking lot there. It?s a short walk to 139 Corporate Center from there.
The guard seems to be familiar with guests of SBC. They didn?t ask for ID. Once you get to the 17th floor, the reception there would inform you that the seminar itself is held at the very top floor.
I had a colleague with me when we listened to presentation. We were a bit late and had to sit at the back. From the PowerPoint slides we were able to discern a variety of loan programs depending on the nature of the business one is engaged in. They have different names for the programs like SME-FIRST, SME-FRIEND, SME-FORCE and SME-GUIDE.
My first impressions indicate that loans are generally from 100,000 ? 300,000 pesos (US$2000-6000) or up to 70% of the total cost of a business project. The interest rate per annum for a one year loan term is 9.75%. It can go up to 13.7% as the term of the loan increases. They require that the business be Filipino-owned and usually have an minimum asset size of P500,000. According to the speakers, those with previous relationships with DTI (for example, as a National Trade Fair Exhibitor) and accreditation with other respected agencies have favorable loan chances.
SME-FIRST is their program for suppliers. As I understand it, SBC is willing to pay the initial cash for the supplies as long as there are guaranteed receivables from the deal. SBC qualifies which businesses should be a supplier?s buyer. They should either be a TOP 1000 Philippine Corporation, a government agency or an entity recognized by SBC.
SBC also has a business program for exporters called SME-FRIEND. The maximum financing provided can go up to seventy percent (70%) of the face value of the export LC/PO or its t
otal working capital requirement.
SME-FORCE is SBC?s their program for franchising businesses. SBC requires that the franchisor company is well established. On the franchisee?s end, he or she should be able to finance at least thirty percent (30%) of the cost of putting up the franchise project
They also have a new program called SME-FIT which is small business financing for businesses that require an Information Technology infrastructure.
For more information I suggest you visit the SBC website. It is a bit outdated though.
June 5th, 2006 at 6:29 am
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October 16th, 2007 at 11:53 pm
Greetings!
A new AV System Integration business is soon to operate in the Philippines.
To know more about our business plan, please visit our new website: http://www.avsise.com
I am searching for financial support to start and run the business.
Looking forward to do business with you.
Thank you.
RENE G. INOBAYA
AVSISE Inobaya’s Trading
AV System Integration & Special Eqpt.
Imus Cavite, Philippines
Tel. +63468503015
Mob. +639204584488
E-mail: inobayarg@avsise.com
Website: http://www.avsise.com
October 19th, 2007 at 4:39 am
Rene, your post is too much of a business pitch. What the hell are you talking about? (In layman’s terms please).
October 19th, 2007 at 10:00 am
Jozzua, I understand that your business are concentrated More on Native Crafts, while the business that is posted by me is more on electronics and services from audio visual equipments, video conferencing and security products which are now very important requirements by other companies and residential.
As you will see my website AVSISE.com, its all about importing electronics products from other countries and to be implimented and handle by our newly engineers from various courses like, Electronics Engineering, Electrical Engineers and other engineering graduate courses that could work in this field.
My main intention here is to train, consult and transfer technologies into our country (Philippines)by newly graduate engineers, and if this business become successful and strong, then a branch will be establish in the future to Asia , europe and middle east.
This is to remind you that technologies do always change and training are the best tools to be updated.
Hoped this general details could give you more idea about this business, since this is not at your line of business interest, its still my pleasure to have some comment from you.
Best regard
Rene