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Robinsons Bank business loans for december 2022 in the Philippines

Robinsons Bank
Get a business loan at Robinsons Bank. On 03.12.2022 there are 2 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 2

Updated:
18.10.2022
13:07
Small Biz Loan
Rating by Finanso®
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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
₱500,000 - ₱20,000,000
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!

Corporate Salary Loan Program
Rating by Finanso®
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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

Robinsons Bank business loans calculator in the Philippines

Calculate the loan at Robinsons Bank
Loan amount
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Specify the desired loan amount

PHP
PHP
50000 ₱
2000000 ₱
Loan term
i

Specify the loan term for the calculation

months
days
6
60
Interest rate per month
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Choose the interest rate on the loan

1.40 %
5.00 %
Type of payments
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Choose the interest rate on the loan

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

Loan amount
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Specify the desired loan amount

100000 ₱
10000000 ₱
Loan term
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Specify the loan term for the calculation

1
72
Business loan application
Your data is securely protected
Loan amount
0 ₱
Loan term
0 month
Loan comission
29 246
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Other types of business loans

How to get a business loan in Robinsons Bank?

Fill out your application
Fill out your application

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

Pass a credit check
Pass a credit check

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

Send your application online to the suggested companies
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.

Wait for a response from the lender
Wait for a response from the lender

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

Get your loan!
Get your loan!

Get the money to a bank account.

Apply for a loan Your data is securely protected

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
Robinsons Bank business loans for december 2022

It is crucial to weigh your options if you are looking for a way to finance your business. One of the most effective ways to do this is through a business loan. You can acquire the funding you require through a business loan to expand and enhance your company's performance. The loan can boost your earnings, lower your need for working capital, assist you in managing cash flow problems, and help you create a long-term growth strategy.

Types of business loans

Robinson bank has two business loans: Go! mSME and Go! Small Biz.

  • Go! mSME. It is a credit program for micro, small, and medium-sized businesses (MSME) in the service, manufacturing, and agricultural industries. You can only apply for an mSME loan ranging from ₱300,000 to ₱2,000,000 and repay it in 6 months to 2 years. You do not require collateral, but the bank will keep 20% of the loan proceeds as security until your loan is paid off. As a result, the mSME is ideal for enterprises experiencing financial difficulties. It is also suitable for a new business that is not yet making much money because no collateral is required.
  • Go! Small Biz. The business credit facility is available to both individuals and businesses. When starting a business, an individual can apply for this loan. They could use the loan to fund business expenses or as capital.

On the other hand, an enterprise can use the loan to fund additional projects, buy more inventory, or cover overhead expenditures. You must have a profitable business that has existed for at least three years to qualify for this business loan. Individuals must have worked for their current employer for at least one year and at least three years.

When applying for this loan, unlike the Go! mSME, you must provide collateral. You can utilize other property or your bank deposits as collateral. You can then borrow up to 90% of your peso deposits and 80% of your dollar deposits using your collateral. Using the property as collateral, you can qualify for 80% for residential, 70% for commercial, and 60% for industrial. After your loan is authorized, you can request a loan of 500,000 to 20,000,000, payable over 1 to 10 years. You will also obtain a one-year credit line.

How to apply for a business loan?

  1. You must go to a Robinsons Bank branch to apply for a business loan.
  2. Request for a banking agent and explain what loan you are seeking.
  3. Check that you have all the required and up-to-date paperwork since missing or out-of-date documents could cause your loan application to be delayed or rejected.
  4. Fill out the form completely and accurately as the bank will need to verify it before approving your loan.
  5. Wait for Robinsons Bank to process your application and provide you with updates on its status.

Requirements for a business loan

  • You must produce you business documentation of its operation and profitability for at least three years.
  • You must have appropriate government-issued identification.
  • You must submit business papers and a business permit, such as registration with the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC).
  • Provide the latest proof of billing, like a utility bill or a credit card bill.
  • Provide the list of at least three major suppliers and customers.
  • Collateral documents include a copy of your company's TCT, CCT, tax statement, and a location plan or map.

List of some of the acceptable IDs

  • Tax Identification Number
  • Barangay certification
  • GSIS e-Card
  • SSS card
  • Unified Multi-Purpose ID
  • OWWA ID
  • OFW ID

Pros and cons of a business loan

Business loans can be a great way to get your business off the ground and keep it moving forward. However, they are not without their downsides.

Pros

  • You can use the loan to purchase equipment or other resources that will be used in your business.
  • You can use the money for your company's growth expenses, such as marketing or office space.
  • You will be able to make investments that will help the economy grow and create jobs for people who need them.

Cons

  • You have to pay the loan with interest over time, which may make it difficult for you to get out of debt quickly.
  • You might have trouble paying it back, especially if you're not sure about your business's financial health or if you don't have a good credit score.
  • You will pay more interest than you would with a personal loan or line of credit as business loans have high-interest rates.

How to repay a business loan?

Log in to your RBank Digital Account to repay your business loan online. Click Payment, Make a New Payment, and correctly fill out all the details. Then click Continue and then Pay. The app will send you a confirmation message after you complete the transaction.

FAQ

What is the loanable amount for Robinsons Bank Corporation's business loan?

The loanable amount for Robinsons Bank Corporation's business loan depends on what kind of loan you have applied for. You can only apply for an mSME loan of 300,000 up to ₱2,000,000, but the Go! Small Biz loan extends from ₱500,000 to ₱20,000,000. 

What is the Robinsons Bank Corporation business loan term?

An mSME loan can only be repaid over 6 months to 2 years, but the Go! Small Biz loan can be serviced for 1 to 10 years.