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CTBC Bank business loans for december 2022 in the Philippines

CTBC Bank
Get a business loan at CTBC Bank. On 03.12.2022 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:
17.10.2022
13:27
SME Business Loan
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₱500,000 - ₱70,000,000
Term
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Loan term for the financial product

up to 10 years
Submit your loan application online
Submit your loan application online

Take advantage of our business loan selection system with a free credit check!

CTBC Bank business loans calculator in the Philippines

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Business loans interest rates in the Philippines 

According to the guidelines for Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms, the maximum nominal interest rate for unsecured loans is 6% per month (0,2% per day), and the maximum effective interest rate is 15% per month (0,5% per day). The caps apply to unsecured loans of no more than ₱10000 and payable within four months.

Business loan application in the Philippines

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Other types of business loans

How to get a business loan

1. Fill out your application
1. Fill out your application

On our website you can fill out a short application form for a business loan.

2. Pass a credit check
2. Pass a credit check

We will offer you to check your credit score online for free.

3. Send your application online to the suggested companies
3. Send your application online to the suggested companies

After checking your credit rate, you will be able to send your loan application to the appropriate companies.

4. Wait for a response from the lender
4. Wait for a response from the lender

If necessary, the lender will contact you to clarify the details.

5. Get your loan!
5. Get your loan!

Get the money to a bank account.

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BillEase
5
Albert T
Albert T
02.12.2022 at 09:25
The best interest – lower than other companies. I've been using Billease for 2 years, and want to say thanks. You may use it with no fear to pay for you smartphone or smth.
Review
TALA
2.6
Allan P
Allan P
01.12.2022 at 09:55
With Tala I forget about banks and offices. Everything is in mobile, I could control my money and loan. Choose limit. I just needed driving license and phone number to register account...
Review
BillEase
4.2
Marvin T
Marvin T
27.11.2022 at 13:25
Billease is for you when you need to buy a new gudget but can't afford it, you may pay by parts. And I don't even need a credit card...
Review
TALA
3.2
Joan T
Joan T
24.11.2022 at 19:07
Tala is an option if you need cash quickly. I urgently borrow money I needed. Downloaded the app, apply and it take 5 min to get my cash. App is essy, interface is comfy.
Review
BillEase
4.2
Evelyn M
Evelyn M
22.11.2022 at 10:10
Fast approval and great app. It is easy even for me and I'm not good with technology. I apply, approved and get my Php 2000 in 30 minutes.
Review
BillEase
3.2
Erwin P
Erwin P
17.11.2022 at 13:05
I decided to get a second loan, bigger one. But it takes me ages to apply. They already had my info and acc. Why so long? My sis says its the best lender… I dont know.
Review
CTBC Bank business loans for december 2022

The small and medium enterprise (SME) Business Loan is a secured CTBC Bank loan that meets the needs of entrepreneurs and company owners for business finance. The program offers short-term loans, revolving credit lines, and term loans. The minimum loan amount is ₱500,000, and the maximum is ₱70,000,000. The minimum loan term for the term loan is one year, and the maximum is ten years. Short-term loan terms are 30, 60, 90, 120, 180, or 360 days.

The loan includes a short-term loan (revolving credit line) - a 30 to 360-day swirling credit line suited for business operational and operational capital requirements - and a term loan - a loan facility paid in standard repayment terms for up to 10 years to address firms' long-term financing needs. The loan can be used for store/office expansion/improvement, purchase, operating capital, or refinancing outstanding bank loans.

How to apply for the CTBC Bank business loan?

Follow the below steps carefully to apply for a CTBC Bank’s SME Business Loan:

  1. Visit the CTBC Bank official website.
  2. Click on Loans and then SME Business Loan.
  3. Check the right-hand side of the screen to download the loan application form. Print the form.
  4. Fill out the loan application form carefully and thoroughly.
  5. Gather all the needed documents with the loan application form and visit the nearest CTBC Bank branch to you.
  6. You will be attended to. Follow all the directives carefully to apply for the loan and get paid.

Requirements for a CTBC Bank business loan

Below are the eligibility and documentary requirements to qualify for this loan:

Eligibility requirements

  • The business must be a Filipino-owned company.
  • Applicants must possess a gross monthly income of ₱50,000, with their business operating with profit for at least three years.
  • Applicants must have a landline number.

Documentary requirements

  • Duly filled-out and signed application form that was downloaded online.
  • Appraisal fee payment receipt.
  • List of the company’s major customers and suppliers with their contact details and signature.
  • Photocopy of two valid government-offered IDs of each authorized signatory.
  • Business registration papers issued by the Philippines department of trade and industry (for sole proprietors).
  • SEC registration certificate, by-laws, latest general information sheet, articles of incorporation (for corporations).
  • Latest six months business bank account statement.
  • Audited financial statements for the last three years.
  • Income tax return (ITR) for the last three years.
  • Photocopy of vicinity plan/lot plan/subdivision plan.
  • Photocopy of TCT / CCT.
  • Photocopy of tax declaration.

Pros and cons of CTBC Bank business account

Below are some pros and cons of the SME Business Loan.

Pros

  • The loan features a short-term and a long-term loan which can address any business challenge.
  • The bank offers loanable amounts of up to ₱70,000,000.
  • There is a loan term as early as 30 days and as long as ten years.

Cons

  • The loan application is made online.
  • You only know your loan interest rate after applying for a loan.
  • The minimum processing time is 21 days. This can be up to a month or more in some instances.

How to repay your CTBC Bank SME Business Loan?

CTBC Bank SME Business Loan borrowers, like home loan borrowers, have three payment choices. Monthly amortizations can be paid at any CTBC Bank location or by issuing CTBC post-dated checks. Borrowers can also make use of the auto-debit arrangement (ADA) option, which requires them to specify their accounts and the amount and payment schedule. The payments will be deducted automatically from their CTBC savings or checking accounts every month.

FAQ

What can serve as collateral for my loan?

The prospective collateral can be a vacant lot, a home and lot, a condominium, a business facility, or an industrial structure.

What happens if I am unable to repay a CTBC SME business loan?

If you cannot repay a business loan, CTBC may sue you to recover the loan's principal and any unpaid interest, fees, and charges. This lengthy and expensive procedure may be extremely damaging to a company and, in certain cases, may even result in liquidation.

Is it true that the more cash you want, the less likely you will get a CTBC SME business loan?

No, the intended principal amount of the loan does not influence whether or not you are approved. CTBC Bank is frequently prepared to accommodate large loan needs for the right customer. In the long run, it is more beneficial for them. Don't be afraid to ask for the quantity of money you truly require.

How will I receive my CTBC Bank SME business loan funds?

Once your loan application has been approved, the loan amounts will be sent to your chosen account. If you do not currently have a current CTBC Bank or savings account, you must register at the branch at the time of loan application.

Can I get another SME business loan from CTBC Bank?

Loans can be re-availed as long as the principal of the previous loan has been paid off and there is no history of missed payments. The initial loan sum will be subtracted from the profits when the new loan is booked.