DBP business loans for april 2024

DBP
Get a business loan at DBP. On 24.04.2024 there are 6 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.
Offers: 6
Updated:
14.10.2022
07:53
DBP
Agroforestry Plantation Program (APP)
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 90% of total project cost
Rate
i

Effective interest rate on the product

prevailing market rate
Term
i

Loan term for the financial product

up to 15 years
DBP
Swine R3 Credit Program
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 100% of total project cost
Rate
i

Effective interest rate on the product

5% per year
Term
i

Loan term for the financial product

up to 10 years
DBP
RAPID Growth Credit Facility
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 90% of the total project cost
Rate
i

Effective interest rate on the product

prevailing market rate
Term
i

Loan term for the financial product

up to 10 years
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DBP
SAFP-DAIRY
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 80% of the Total Project cost
Term
i

Loan term for the financial product

up to 10 years
DBP
ERCA-RCEF
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 90% of the Total Project Cost
Rate
i

Effective interest rate on the product

0% - 2% per year
DBP
Rediscounting Line Facility
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 85% of the current balance
Term
i

Loan term for the financial product

up to 3 years
DBP business loan calculator
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10000 ₱
200000 ₱
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months
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1
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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
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100000 ₱
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72
Business loan application
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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
DBP business loans for april 2024

The DBP business loans are also known as micro, small, and medium enterprises loans. It is a way the bank supports Filipino business owners through its Sustainable Enterprises for Economic Development (SEED) program. Additionally, DBP promotes agricultural competitiveness and food security through its Sustainable Agribusiness Financing Program (SAFP). By creating jobs and promoting regional products through these initiatives, DBP also contributes to the prosperity of local communities.

Types of DBP business loans

As mentioned earlier, there are two types of DBP business loans: the Sustainable Enterprises for Economic Development (SEED) and the Sustainable Agribusiness Financing Program (SAFP).

Sustainable enterprises for economic development

This is DBP's overarching initiative for small, medium-sized, and microbusinesses (MSMEs). The SEED Program seeks to increase MSMEs' contribution to long-term economic growth. By introducing alternate methods of securing MSME loans, the initiative also intends to bring MSMEs into the mainstream of banking, increase the Bank's lending reach, and aid in creating employment and income prospects. There are two loan types under this umbrella:

  • The DBP response to accelerating MSME recovery.
  • Rediscounting line facility for financial institutions.

The sustainable agribusiness financing program

The bank's overarching agricultural sector program is called the Sustainable Agribusiness Financing Program (SAFP). By providing financial support for agribusiness initiatives, the SAFP seeks to promote agribusiness for rural development and enhance the competitiveness and efficiency of farmers and fisherfolk in the nation. The loan is sub-divided into five parts:

  • Swine repopulation, recovery, and rehabilitation (Swine R3) credit program.
  • Program for sustainable agribusiness financing in the dairy sector.
  • Rice competitiveness enhancement fund: Expanded credit assistance for rice.
  • Agroforestry plantation program.
  • Partnership for inclusive growth and development in rural agro-enterprises.

How to apply for a DBP business loan?

Here are three easy steps to follow if you want to apply for a DBP loan for micro, small, or medium-sized businesses:

  1. Discuss your loan proposal for a micro, small, or medium-sized company with a DBP account officer. Consult them, and DBP will evaluate your company's requirements.
  2. File your application form and all necessary supporting documentation. DBP will assess and process your application as necessary after submission. If your application is accepted, DBP will inform you in writing and via phone.
  3. Open a DBP account if you don't already have one after your application has been approved. After that, everything will be done through your DBP account.

Requirements

The entire loan application requirements and eligibility depend on the type of business loan you want, which will be communicated to applicants during the loan application. Some of the general requirements are:

  • Fully completed application form.
  • DBP customer record form.
  • DBP confidential information sheet.
  • Two copies of the borrower(s)' current, valid IDs (government-issued IDs).
  • Registration of business forms.
  • Business license (from LGU).
  • Three years old income tax returns (if applicable).
  • Statement of assets, liabilities, and the principal borrower(snet )'s net worth (if applicable).
  • Last three months' worth of bank statements (if applicable).
  • Business plan with an income statement and cash flow projection included.

Pros and cons

These honest pros and cons are worth checking out if you are interested in a DBP business loan.

Pros

  1. The loan covers many business types, which means your business is more likely to be inclusive.
  2. DBP covers all the loan requirements and information on its website, so you can know if you are eligible or not without having to visit a bank branch.

Cons

  1. There is a very long list of requirements, some of which you must pay extra money for to get.
  2. It takes time before your loan application is approved.

How to repay a DBP business loan?

There is not much info from the bank about loan repayment, but most business loans in the Philippines are paid back in fixed or equal monthly payments that include both the principal and interest. Call the bank's customer care at (02) 683-8324 for more information.

FAQ

Who are the eligible borrowers for a DBP business loan?

Eligible borrowers for DBP business loans are:

  • Business owners with an existing current account either with the Development Bank of the Philippines or any other recognized bank.

  • Applicants that do not have any adverse findings upon credit investigation.

What are the general loan terms and conditions for a DBP business loan?

Below are some of the terms and conditions for a DBP business loan:

  • The minimum loanable amount is ₱300,000, with the maximum ₱1,000,000. 

  • The maximum percentage loanable based on audited net income is 50% for first-time borrowers and 60% for subsequent ones. 

  • The loan tenor is one or two years, subject to debt service coverage compliance.

  • The payment is made every month.

  • The interest rate is fixed at 9% p.a. for a one-year loan and 10% p.a. for a two-year loan.

  • The loan collateral security is the post-dated checks from non-DBP accounts.