How to apply for BDO Unibank Philippines SME loan and requirements

BDO Unibank Philippines SME loan is credit facility that is designed for lending facility that is available to businesses who’s need of working capital to achieve business goals.The loan package Bridging short term financial needs and help Business growth for customers.

The bank believe that Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries since they contribute towards job creation and global economic development. SMEs contribute up to 40% of national income (GDP) in emerging economies

With this kind of credit, customers can get Term Loan provides funding for long-term business investments such as purchase of new asset,repair or maintenance of property etc.They can also get credit line which gives access to funds whenever their business needs it.

Customers can borrow up to 1 million to 20 million with BDO bank Philippines term loan and pay back base on chosen loan tenor which up to 10 years. The interest rate range from 6.25% to 7.25% depend on loan duration.

The BDO SME Ready Check which know as revolving credit line is best for short term working capital,pay for supply and operational cost because it tenor is one year with option of renewal. you can borrow up to 3m to 20m and use properties as collateral base of your credit history and business required fund

Requirement for BDO Unibank SME loan

1. At least 21 years old but not exceeding 70 years old at the end of the loan term

Business Owners

• Sole Proprietorship, Partnership, Corporation

• Business is in profitable operation for at least 2
consecutive years

• Minimum annual gross sales of 1 Million

• Business is within a BDO serviceable area

COLLATERAL AND SUPPORT DOCUMENTS

• Photocopy of Title
• Lot plan with vicinity map
• Tax declaration
• Special Power of Attorney (SPA), if applicable

For Construction Loan

• Building / Floor Plan of proposed improvement
• Bill of Materials
• Specifications of proposed finishes

For Refinancing / Loan Take out

• Statement of Account from current bank
• Official receipts for the last three (3) months

*Other documents may be required upon evaluation

Reimbursement

• Certificate of Full Payment.
• Deed of Sale
• Sales Invoice or Official Receipt as proof of payment
for the asset you acquired.
• Reimbursement is only applicable to assets purchased
within the last 12 months.

Feess and charges

Pre-approval Fees*

Appraisal Fee

(per title) P5,000 if collateral offered is within 30 km. radius from any BDO branch.

P5,500 if collateral offered is outside 30 km. radius from any BDO branch.

Post-approval Fees*

1. Handling Fee—P 5,000
2. Notarization Fee— P 600
3. Collateral Registration Fee—Based on the approved loan amount and standard

Registration of Deeds (RD) fees:

4. Documentary Stamp Tax P1.50 for every P200 of the approved loan amount
5.Credit Life Insurance P4.75 for every P1,000 of the loan amount (assuming standard rate for borrowers up to 49 years old)
6. P6.50 for every P1,000 of the loan amount (assuming standard rate for borrowers ages 50 to 64 years old)
7. Fire Insurance (FI) Premium Based on the appraised value of the improvement on the 8. property submitted as collateral.
Contractors All Risk Insurance (CARI) Based on the estimated bill of materials of the property for construction.
Processing Fee
(for SME Ready Check) Based on percentage of approved credit line

How to apply

To apply for BDO Unibank Philippines SME loan kindly Submit through any of the following channels:

• Apply Online: https://www.clg.bdo.com.ph/en/web/clg/sme-loan-online-application-form

• BDO SME Loan Provincial Business Centers

• More than 1,000 BDO Branches Nationwide

Failure to provide sufficient and accurate information in this Application Form may result to BDO’s inappropriate determination of the financial requirements of the Borrower.

 

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