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China Bank business loans for february 2024

China Bank
Get a business loan at China Bank. On 22.02.2024 there are 1 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
Offers: 1
Updated:
14.10.2022
08:01
China Bank
Commercial Lending
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₱100,000 - ₱20,000,000
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Savii
1
No comment yet coz im not yet approved in my application
Review
DIGIDO
5
very fast
Review
Kviku
4
Please address my concerns regarding my loan application and its processing...
Review
Kviku
1.6
Warning: This lender is predatory and extremely dangerous. Do not use this app for loans as they will trap you with impossible and maliciously high interest rates...
Review
Kviku
1.4
I was charged an excessive amount by KVIKU. My last loan was approved on November 25th, 2022 for 5000 pesos...
Review
Kviku
1.8
High Interest Rate. They approved my auto loan without discussing repayment options in full. Instead, they sent me a contract with scheduled payments, which is nowhere near the advertised 0...
Review
China Bank business loans for february 2024

This loan from China Bank is primarily designed for commercial use. It entails debt formation, similar to all loans, which will be repaid with additional interest.

Types of China Bank business loans

The two types of loans offered by China Bank are short-term and long-term working capital loans.

Short-Term Working Capital Loan

China Bank offers a wide range of Short-Term Working Capital Loans to assist you in leveraging your existing assets and meet your working capital needs, whether you need them to improve your cash flow or support your daily operations.

The China Bank's comprehensive collection of loans for working capital that are short-term are:

  • Discounting of checks with a post date. The corporate borrower can turn its post-dated checks into cash by ignoring them.

  • Export loans and advances. With the help of this facility, corporate clients in the export industry can get pre-export financing for buying raw materials and covering overhead costs.

  • Exported bills acquired. This facility enables corporate clients to assign or sell to the bank either “on the collection” or by outright purchase to obtain operating capital for the subsequent export shipment.

  • Letters of credit for Imports. Using the Bank’s letters of credit as security enables the client to buy raw materials both locally and internationally.

  • Trust receipts for domestic letters of credit. The client can sell the items entrusted to them, thanks to the trust receipt.

  • Loan for receivables purchase. By selling or assigning its receivables to the bank, a client can use a receivable purchase loan to maintain the liquidity and manageability of its money.

  • Credit line. Clients can access money through a loan line for needs related to general working capital.

  • Omnibus line. An omnibus line allows customers to use various lending or trade services.

Long-Term Working Capital Loan

When running your own business, raising funds to grow and expand it or meeting financial demands may be challenging, that is why most business owners constantly seek business aid. A range of long-term loans from China Bank is designed to help you realize your company's full potential.

Long-Term Working Capital Loans from China Bank include:

  • Long-term credit. This loan offers long-term financing for business expansion, including building factories or plants, expanding existing equipment, purchasing new equipment, and funding a portion of ongoing working capital requirements.

  • Finance based on a Project. This service, which applies to all DBP/LBP/SSS-funded programs, enables the client to fix the interest rate and loan period.

How to apply for a China Bank business loan?

To apply for a China Bank business loan you should:.

  1. Visit a China Bank branch closest to you.

  2. Ask for a commercial application form and duly fill it out.

  3. Submit the form and follow the subsequent instructions.

Reference! Contact their account management department at 885-5505 to 5511 for further information on how to apply for a commercial loan from China Bank, and an account management officer will be pleased to help.

Requirements

The general requirements for a business loan in the Philippines are:

Eligibility

  • Must be a citizen of the Philippines aged 21 and be under 65 years old when the loan for the business matures.

  • Should operate a profitable firm registered with the SEC or the DTI and has been in operation for at least three years.

  • Must achieve a minimum annual gross sales threshold.

  • Must have a good credit history.

Documentary requirements

  • Valid government-issued identification (TIN ID, PRC ID, postal ID, passport, driver's license, or UMID).
  • Evidence of a company’s billing address (Business permit, lease contract, utility bills)

  • Certificate from DTI or SEC

  • Certificate of registration under BIR

  • Photocopy of the financial statements after an audit

  • Business history/company information

  • Filled out loan application form

Pros and cons

Below are some pros and cons to consider before applying for a China Bank business loan:

Pros

  • There’s an extended range of loans to choose from.

  • The loan has a reasonable interest rate, compared to competitors.

Cons

  • Not enough loan information is stated, which means you must call a customer rep or visit the bank for full terms and information.

  • Loan application is only available in-branch.

  • There is a long range of requirements in order to qualify for a loan.

How to repay a China Bank business loan?

In the Philippines, most business loans are repaid in fixed or equal monthly installments that cover both the principal and interest. Contact their account management department at 885-5505 to 5511 for further information on commercial loan repayment.

FAQ

What is the loanable amount for China Bank commercial lending?

This information is not stated on the China Bank website, but In the Philippines, lenders offer company loans ranging from ₱100,000 to ₱20,000,000.

What is the China Bank commercial lending loan term?

The bank does not state the loan term, but generally, in the Philippines, long-term loans can be repaid over five to fifteen years, depending on the lender, but short-term loans are repaid within a year.