BUSINESS LOAN IN THE PHILIPPINES

Just like how many successful business owners did it, when it’s time to take it to the next level, you will need to inject additional working capital into your business. However, expanding may have disadvantages and advantages to your business. Therefore, it is a must that you are truly passionate about what you do in order to succeed. Simply because owning and operating a business has risks and uncertainties. 

In the Philippines, there are several types of business financing and personal loan offerings that business owners can take advantage of to help grow their business. The financing a company's loan requirements might differ from one financial institution to another. Also, it varies their loan term, it can be a short term loan or long term loans as well as its' monthly interest rates. These make applying for any type of loan harder as you have a lot of things to consider.

At Sales and Loans Brokerage, we will help your decision-making a lot easier to save time. We would like to keep our online business loan application as simple as possible. Our Online Loan Assessment Form is available for our prospective clients to answer.

A list of requirements is also readily made available on our Facebook Page as well as on our website. If you are a legitimate business owner who’s looking for a business line of credit, here are the requirements and the steps on how to apply for a business loan.

Basic Requirements

• TIN ID and any other government-issued ID proof of the Principal Borrower

• Latest three (3) months Bank Statements and Bank Certification

• Photocopy of valid Barangay Business Clearance

• Photocopy of valid Mayor's Permit

• Proof of billing (not older than 2 months) for Business and Residence (e.g. electricity/water/cable etc.)

• Sketch/map of Business and Residence location with the nearest landmark

Additional requirements per type of business

• For Sole Proprietors:

• DTI Certificate of Business Name Registration (original; and renewal, if any)

• For Partnerships:

• Business TIN ID proof (BIR Certificate of Registration)

• SEC Certificate of Incorporation/Registration

• Latest Articles of Partnership & By-Laws

• Partners' Resolution (EFI prescribed format: Version- PR.10.2017)

• For Corporations:

• Business TIN ID proof (BIR Certificate of Registration)

• SEC Certificate of Incorporation/Registration

• Latest Articles of Partnership & By-Laws

• Latest General Information Sheet (GIS)

• Secretary's Certificate (EFI prescribed format: Version- SC.10.2017)

Once you all have the mentioned documents, you can either submit these requirements to your trusted Loan Consultants or you can email us the soft copies for us to assess and process.

After receiving the complete documentary requirements, you can expect an update in 7-business days or less. In contrast, your Loan Consultant will get in touch with you for the details of the loan application such as Lacking documents (if there are any), terms and conditions, monthly payments, and more via email or sms.