BPI Business loans are SME Term Loans and SME Credit Lines, which offer a lump sum or ongoing access to business funds for a fixed term or a year. SME stands for small and medium enterprises.
Types of BPI Business Loans
- An SME Term Loan is a fast, secured loan for long-term projects, supplier payments, inventory or equipment purchases, capital expenditures, and expansion. Loans may be secured by real estate mortgage, deposit, or investment. The maximum term is five years; the minimum loan amount is Php 300,000. The processing fee is Php 3,500.
- An SME Credit Line providing ongoing funds access can be renewed annually. You only pay interest for the funds you use. It is suitable for short-term goals, unexpected expenses, and growth. The minimum loan amount is Php 300,000, which may be secured with collateral. The processing fee is 0.5% of the approved amount.
How to apply for an SME loan or line of credit?
To apply for an SME Term Loan, you may visit any BPI branch, call (02) 7918-2000, press 2 for business loans, or email at [email protected]
To apply for a BPI SME Term Loan or an SME Line of credit, provide the documents:
For sole proprietors and individuals
- Duly accomplished application form
- DTI Registration/Business Permit
- Borrower’s ID
- Spouse’s ID (if applicable)
- Last three months BPI and another bank statement
- Latest Income Tax Return (ITR) for the previous three years.
For partnerships and corporations
- Duly accomplished application form
- SEC Registration
- General Information Sheet
- Articles of Incorporation/Partnership, including amendments (if any)
- By-Laws, including amendments (if any)
- Ids of majority shareholders/authorized signatories (photocopy)
- Last three months' bank statements (BPI and/or other banks)
- ITR for the last three years
- Annual Financial Statements for the previous three years
Requirements
To be eligible for an SME Term Loan or SME Line of credit, you must:
- Be a Filipino citizen
- Be over two years in present / immediately preceding residence
- Be over 21 years old but under 70 years old at the time of loan maturity
- Have at least three years of business operations
Pros and cons
Pros
- Tailored for business needs
- Suitable for sole proprietors and corporations
- Higher loan amount with collateral
Cons
- Strict eligibility criteria
- No online application
- Collateral may be lost in the case of default
- High processing fee for a line of credit
How to make a payment?
For any information, contact a BPI customer service team for SME clients. You may call (02) 7918-2000, press 2 for Business Loans, or email at [email protected].