Brief Description

The Small and Medium Enterprise (SME) Business Loan is a secured credit facility that caters to the business financing requirements of entrepreneurs and business owners. The program provides Short Term Loans or Revolving Credit Lines and Term Loans.

Features

Facility:

• Short Term Loan (Revolving Credit Line) - a 30 to 360-days revolving credit line ideal for business operating and working capital requirements
• Term Loan – a credit facility paid in monthly amortizations for a period of up to 10 years to address long term financing needs of businesses

Purpose:

• Store / Office Expansion / Improvements
• Acquisition
• Working Capital
• Refinancing of existing credit facilities

Loan Amount:

• Minimum: PhP500,000
• Maximum: PhP70,000,000

Processing Time:

• 21 banking days

Term:

• Term Loan:
  • Minimum: One (1) year
  • Maximum: Ten (10) years
• Short Term Loan: 30, 60, 90, 120, 180, or 360 days

Interest Rate:

• Prevailing SME Business Loan rate at time of availment

Interest Rate Repricing:

• Term Loan: 1, 2, 3, 4 and 5 years
• Short Term Loan: 30, 60, 90, 120, 180, or 360 days

Collateral:

• Real Estate properties (vacant lot, house and lot, condominium, commercial building, industrial)

Eligibility Criteria

Corporations, Partnerships, or Sole Proprietorship:

• Must be a Filipino-owned company
• Gross monthly income of PhP50,000
• With business operating for at least three (3) years
• Must have a landline number

Requirements

• Duly filled-out and signed application form
• Payment of appraisal fee
• List of major customers and suppliers with contact details
• Photocopy of two (2) valid IDs of each authorized signatory
• Business registration papers issued by the Department of Trade and Industry (for sole proprietors)
• SEC Registration Certificate, Articles of Incorporation, By-Laws and latest General Information Sheet (GIS) (for corporations)
• Latest six (6) months bank statement
• Audited Financial Statements for the last three (3) years
• Income Tax Return for the last three (3) years
• Photocopy of TCT / CCT
• Photocopy of lot plan / vicinity plan / subdivision plan
• Photocopy of Tax Declaration