Maybank business loans for june 2023

Maybank business loans are designed to help your business grow. They offer flexible terms, from fixed-rate loans to revolving credit facilities, and they allow you to make progress while maintaining liquidity.

Types of Maybank business loans

• Term loan. You are qualified for a term loan if you operate as a sole proprietor, a partnership, or a corporation. You can choose between less than a 360-day short-term loan or a 3, 5, or 10-year long-term loan. When your Term loan is approved, you can use the funds for project financing, modernization of facilities, acquisition of goods and services, and business expansion.
• Revolving credit line. You can use this line for daily operations, such as employee salaries, or large-scale purchases like equipment or new office space. The validity of this line of credit is one year, but you can only use the portion of the loan for up to 180 days. The revolving credit line is suitable for partnerships, corporates, or sole proprietorships.
• LC Discounting Line. Exporters and importers part partnership and corporates are eligible for this loan. The discounting line enables you to purchase of draft under Usance LC.
• Export Advance Line. Use this line to buy materials from overseas suppliers and pay them back with the proceeds from your receivables. You have access to financing with a large margin of up to 80% of the allotted LC, CPO, or SC. With a maximum financing duration of 120 days, you may use this line in USD or PHP currency.
• Export Bills Purchase Line. The credit facility is eligible for a business of trade, export, an existing Maybank PH loan client, a single proprietor, part of a partnership, or a corporate. Great for paying suppliers on time when you have limited working capital or temporary capital difficulty. Maybank avails financing of up to 100% of the invoice value of part thereof.
• Domestic Bills Purchase Line. You get funds to help you cater to your daily expenses without waiting until the client's checks clear. You have one year to use this credit facility after it is approved.

How to apply for a Maybank business loan?

1. Visit your nearest branch to check if you qualify for a Maybank business loan.

2. Fill in the business details, such as your name, date of birth, address, and email address.

3. Give the necessary documentation, such as bank statements, to prove your income. You can also submit evidence of business registration and incorporation documents where applicable (if you are a sole proprietor).

4. When you visit a branch, fill out an application and give it to the loan officer in charge.

5. After submitting your application, wait for it to be processed.

Requirements for a Maybank PH business loan

General requirements

• Company profile with the product line.
• Business papers like Articles of Incorporation with by-laws, latest GIS, DTI or SEC registration, business permit.
• Three years of ITR and Audited Financial Statements (AFS).
• Customer and supplier list with contact information.
• One-year projections.
• Project details.
• Photocopy of TCT or CCT with tax declaration and RETR where applicable.
• Location plan, if applicable.

Requirements for Export Advance Line

• Disclosure statement
• Deed of assignment
• Promissory notes
• Duly signed purchase order

Requirements for Export Bills Purchase Line

• Commercial invoice
• Bill of lading
• Shipping documents
• Packing list

Pros and cons of Maybank business loan

These are the benefits and drawbacks of using a Maybank business loan.

Pros

• The Maybank business loan is a good option for small and medium-sized businesses.
• The application for a Maybank business loan is easy.
• The interest rate is competitive, which makes it affordable for most small businesses.

Cons

• You have limited time to repay the money because it is a short-term loan.
• You can only apply for this loan from any branch.

How to repay a Maybank PH business loan?

1. Tap Pay Bills on the GCash dashboard.

2. Choose the Loans icon.

3. Scroll down on the list of Payees and select Maybank business loan.

4. Enter your account information and the amount you wish to pay.

5. Ensure you have input the correct details and click Confirm.

6. Wait for the transaction confirmation text.