In an effort to make solar energy more accessible to Filipino households, Solar Up Philippines has teamed up with Sterling Bank of Asia to introduce a Green Financing Program. This initiative provides affordable and convenient financing options for families looking to adopt renewable energy solutions, specifically solar installations serviced by Solar Up Philippines.
Green Financing Program: Key Features
The Green Financing Program offers a comprehensive package tailored to meet the needs of Filipino households transitioning to green technologies.
Key features of the program include:
Loan Purpose: To finance the purchase or availment of services from green technologies—renewable, energy-efficient, economical, and environment-friendly systems and products, including solar installations by Solar Up Philippines.
Loanable Amount: Php30,000 up to Php1,000,000, depending on the capacity to pay.
Terms:
- 6, 12, 18, 24 months
- 36 months
Interest Rate:
- 1.25% for loan terms up to 24 months
- 1.5% for 36 months
Mode of Release: Via credit to a Sterling Bank of Asia savings account
Loan Repayment: Via issuance of Post-Dated Checks (PDCs)
Fees & Charges:
- Processing Fee: Php1,500 or 0.75% of the loan amount, whichever is higher
- Credit Life Insurance: Applicable for every approved loan application
Referral Incentive: Based on the loan amount released per application (less applicable withholding tax)
Other Terms & Conditions:
- No adverse credit findings under the name of the borrower
- No co-maker required, no collateral needed, no company guarantee
Borrower Qualifications
To qualify for the Green Financing Program, borrowers must meet the following criteria:
- Filipino Citizen
- Age Requirement: At least 21 years old upon loan application and not more than 65 years old upon loan maturity
- Gross Monthly Income: At least Php30,000.00
- Employment Tenure: At least one (1) year with the current company and three (3) years for BPO employees, on a regular/permanent employment status
- For Self-Employed/With Business: Operating for at least three (3) years and profitable for the last two (2) years, with an annual gross income of Php600,000 or gross monthly income (GMI) of Php50,000
Required Documents
Applicants must submit the following documents to qualify for the loan:
- Completely filled out Application Form (Bank Format)
- Signed Authorization Letter (for residence & employment/business verification)
- Copy of two (2) valid government-issued IDs
- Proof of billing
- Latest 1 month credit card billing (if applicable)
- Invoice Statement on purchase/service transaction – Green Products
For Employed:
- Certificate of employment with compensation and benefits
- Latest 3 months pay slips
- Latest BIR Form 2316
For Self-Employed:
- Latest 2 years ITR with Audited Financial Statements
- Latest 6 Months Bank Statements
- DTI/SEC Registration
- Latest GIS (if applicable)
- Valid Business Permit
- Trade References (Top 3 Clients and Suppliers with Contact Details)
Get Started Today
For more information and to get started with your solar installation financing, contact Solar Up Philippines today:
Phone: (+63) 917-149-7789
Email: [email protected]
Website: www.solarup.ph
Office Address: 12th Floor, SM CDO Downtown Tower, Cagayan de Oro City
Please schedule an appointment before visiting our office (no walk-ins allowed)