The Infrastructure Contractors Support (ICONs) Program supports the infrastructure thrust of the National Government, including its Public-Private Partnership program, through the direct financing of construction contractors as a complementary mode to fund various types of infrastructure spending.
Program Objectives
- To provide credit assistance to contractors in the completion of contracts;
- To provide credit assistance to contractors who intend to expand their capacities through capital investments.
Eligible Borrowers
Contractors duly licensed by the Philippine Contractors Accreditation Board (PCAB) under the following:
- Classification:
- General Engineering Contracting
- General Building Contracting
- Specialty Contracting
- Trade
- License Categories:
AAAA, AAA, AA, A, B, C, D, Trade
- Classification:
Eligible Projects
- Social Infrastructure
- Residential Buildings from single-family dwellings to high-rise buildings
- Non-Residential Buildings
- Social Infrastructure
- Transport Infrastructure
- Water Supply, Wastewater, Sanitation and Other Utility Infrastructure
- Communications Infrastructure
- Waste Infrastructure
- Power and Energy Infrastructure
Eligible Loan Purpose
- Short-term Loan Facility/Credit Lines
- To finance contractor’s Purchase Orders (POs) and Contract Receivables
- To finance clearing of checks through Domestic Bills Purchase Line
- To finance liquidity and working capital requirements
- To finance letter of credit/trust receipt and standby letter of credit
- Long-term Loan Facility
- To finance capital expenditures e.g. acquisition of construction equipment/machineries
- To finance multi-year contracts
- To finance permanent working capital e.g. contactor’s business expansion projects, renovation of business premises, etc.
Loan Amount
- For Awarded Contracts:
- 70% of the validated Awarded Contract/PO amount
- For Business Expansion Purposes:
- 60% of the appraised value of the collateral
- For Awarded Contracts:
Interest Rate
- Based on prevailing rates of DBP
Mode of Release
- For Financing Awarded Contracts
The approved loan to finance the awarded contract/PO shall be on a staggered manner based on the progress accomplishment of the financed contract/PO.
One-time release of up to 70% of the contract/PO amount shall be subject to final credit assessment of DBP. - For Financing Business Expansion
Releases shall be done in tranches, based on the percentage of project completion as validated by the authorized DBP representative.
- For Financing Awarded Contracts
Fees
- For Credit Line
- One time service fee upon approval
- Micro and Small Enterprises – P5,000.00 or 0.1% of the approved loan amount whichever is higher
- Medium and Large Enterprise – 0.5% of the approved loan
- For Term Loan
- Front-end fee of 0.5% based on approved amount of loan regardless of asset size
- For Credit Line
For more program information, please contact:
Program Development and Management I Department
Tel. Nos.: (02) 8818-9511 local 2379
E-mail: pdm1@dbp.ph
For loan application, you may contact the lending units near you:
Metro Manila Lending Groups
Corporate Banking Group
Ma. Lourdes B. Gumba
Head, Corporate Banking Group
Tel. Nos.: (02) 8812-6536
E-mail: mlbgumba@dbp.ph
Lea Vanessa C. Delos Reyes
Head, Corporate Banking I Department
Tel. Nos.: (02) 8893-8940
E-mail: lvccotaz@dbp.ph
Raquel C. Atienza
Head, Corporate Banking II Department
Tel. Nos.: (02) 8813-2730
E-mail: rcatienza@dbp.ph
Suzanne S. Aquino
Head, Financial Institutions Department
Tel. Nos.: (02) 8815-1528
E-mail: ssaquino@dbp.ph
Gerard Boz C. Tungol
Head, Public Sector Department
Tel. Nos.: (02) 8815-1520
E-mail:
Jeanne D. Adamos
SME Retail and Mid-Market Lending Group
Tel. Nos.: (02) 8893-1177
E-mail: jdadamos@dbp.ph
Arturo S. Pedregosa
Head, Middle Market I Department
Tel. Nos.: (02) 8893-1177
Christian Joseph D. Presa
Head, Middle Market II Department
Tel. Nos.: (02) 8840-5566
E-mail:
Myra G. Almogino-Calara
Head, SME-NCR Department
Tel. Nos.: (02) 8812-9932
Provincial Lending Groups
Kindly proceed to this link.