LBP Leasing and Finance Corporation (LLFC) was created in line with Section 21-A of Republic Act 337 or the General Banking Act that allows Banks like LANDBANK to invest in equities of companies with allied undertaking such as leasing activities.
15th Flr., Sycip Law Center 105 Paseo de Roxas St., Makati City, Metro Manila
info@lbpleasing.com
(02)8818-2200
819-6176
LBP Leasing and Finance Corporation (LLFC) was created in line with Section 21-A of Republic Act 337 or the General Banking Act that allows Banks like LANDBANK to invest in equities of companies with allied undertaking such as leasing activities.
The Corporation was created by LANDBANK to provide support to the Land Bank and its clients thru financing and leasing (both financial and operating facilities).
LLFC was organized as a fully owned subsidiary of Land Bank of the Philippines (LBP) with an initial paid-up capital of Two Million Nine Hundred Pesos (P2,000,900.00) and authorized capital of Twenty-six Million Pesos (P26,000,000.00). In year 1997, SEC approved the increase of authorized capital to Five Hundred Million Pesos (P500,000,000.00).
LLFC's Articles of Incorporation was amended and approved by SEC on 03 November 2015 with the following amendments:
1.Change of name to LBP Leasing and Finance Corporation; and
2. Amendment of Articles I, II, and III thereof;
1. LEASING FACILITIES
Finance Lease is a credit facility where LLFC (lessor) acquires fixed assets based on the requirements/needs of the client (lessee) which are then leased by the client (Lessee) from LLFC (Lessor) through payment of periodic lease amortization. The benefits and risks of ownership of the assets are transferred to the lessee at the end of the term.
This facility allows enterprises to acquire equipment, motor vehicle, lot and building and other equipment, to expand, upgrade or modernize their operations. It also enables enterprises to match financing terms with the earning potential of the capital asset, preserve working capital and credit lines and address existing or current budget limitation.
1.2 Operating Leases
Operating Lease is a credit facility where the client (lessee) makes rental payments to LLFC (lessor) for the use of an asset over a fixed period (normally, more than a year). Under the facility, LLFC retains the benefits and risk of ownership of the leased asset. At the end of the lease term, the lessee may opt to renew the lease, purchase the asset at its fair market value or return the asset to LLFC.
2. FINANCING FACILITIES
2.1. Equipment Financing Line
This facility provides medium or long-term financing to clients and may be granted to provide funding for the acquisition of equipment or other capital assets to be secured by the object to be financed and or for the improvement of client's equipment/asset that may contribute to the expansion and improvement of their business which will be secured by chattel mortgages.
2.2. Purchase Orders/Receivables Financing Line
This facility provides clients with a source of funds through financing of Receivables or Purchase Orders/Contracts. It is secured by assignment of outstanding receivables that are duly acknowledged/confirmed for products and services that had been delivered and accepted or confirmed or Purchase/Job Orders from established corporate or institutional customers to purchase materials and pay for other expenses needed to deliver the goods and services that are the subject of the purchase orders/contracts.
2.3. Short-Term Credit Line
This facility provides clients with a source of funds to finance short-term working capital requirements. This facility is provided to existing clients with good track record.
3. SPECIAL FINANCING PROGRAMS
Special lease and credit programs may be developed by LLFC in partnership with asset suppliers or other institutions to facilitate the processing and implementation of lease or credit facilities for identified sectors.
Board of Directors / Officers
Dir. Cecilia C. Borromeo - Chairperson
Dir. Silvestre M. C. Punsalan Jr. - Vice Chairman
Dir. Francisco J. Leonor Jr. - Member
Dir. Edward John T. Reyes - Member
Dir. Fritz M. Salazar - Member
Dir. Roberto U. Teo - Member
Dir. Conrado S. Minano Jr. - Member
Dir. Leticia V. Damasco - Member
Dir. Virgilio M. Sangutan - Member
Dir. Nanziancino M. Dilay Jr. - Member
Dir. Edgar Crisanto R. Violan - Member
Executive Committee
Corporate Governance Committee
Risk Management Committee
Audit Committee
Related Party Transaction
Corporate Officers
Francisco J. Leonor Jr. - President/CEO
Atty. Felix L. Manlangit - Corporate Secretary
Riza M. Hernandez - Treasurer &
- Head-Account Servicing Group
Fidelito G. Magno - Head-Account Management Group
Raizza L. Gonzales - Head-Corporate Services Group &
- Data Protection Officer
Peter Paul I. Rigor - Head-AMG Team B
Don V. Sumadchat - Head-Risk Management Office
Luz M. Narciso - Compliance Officer
Alley J. Entienza - OIC Internal Audit
