BPI business loans for march 2023

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

1. 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.
2. 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 bbclientservices@bpi.com.ph

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 bbclientservices@bpi.com.ph.