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Security Bank business loans for September 2022 in the Philippines

Get a business loan at Security Bank. On 25.09.2022 there are 5 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 5

Updated:
31.08.2022
09:17
Security Bank
Truck Loan
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 70% of purchase price
Term
i

Loan term for the financial product

12 - 36 months
Security Bank
SME Business Mortgage Loan
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
₱1,000,000 - ₱30,000,000
Rate
i

Effective interest rate on the product

from 7.75% per year
Term
i

Loan term for the financial product

up to 20 years
Security Bank
Auto Fleet Financing
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
from ₱100,000 or up to 80% of purchase price
Term
i

Loan term for the financial product

12 - 60 months
Submit your loan application online
Submit your loan application online

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

Security Bank
SME Business Express Loan
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
₱1,000,000 - ₱5,000,000
Rate
i

Effective interest rate on the product

up to 1.85%
Term
i

Loan term for the financial product

up to 36 months
Security Bank
Business Mortgage Loan
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
₱1,000,000-₱30,000,000
Rate
i

Effective interest rate on the product

7.0% per annum
Term
i

Loan term for the financial product

up to 20 years

Business loan application in the Philippines

Loan amount
i

Specify the desired loan amount

100000 ₱
10000000 ₱
Loan term
i

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

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
Security Bank business loans for September 2022

Security Bank offers flexible business loan options tailored to help applicants' businesses grow.

Types of Security Bank business loans

This company offers two types of business loans: the business mortgage loan and the business express loan.

Business Mortgage Loan

The Security Bank business mortgage collateral loan can be extended for 20 years up to ₱30m if you have the collateral to support it. Employed individuals may also apply. The minimum loan amount is ₱1,000,000, with the maximum being ₱30,000,000. The term could be up to a maximum of 20 years, depending on the bank's valuation of your collateral.

Requirements for a business mortgage loan

To apply, the applicant must be over 21 years old. Their business must be registered as a corporation, partnership, or sole proprietorship with the Securities and Exchange Commission or the Department of Trade and Industry. It should also be operational for at least three years. If they are employed, they should earn a minimum of ₱50,000 every month. Apart from that, you will be required to submit the following documents.

Documents

  • A clear copy of one government-issued ID.

  • Letter of authorization.

  • Audited financial statements of two years

  • Articles of partnership, SEC certificate, and partnership resolution, whichever is necessary.

  • A mayor's permit (if applying as a startup or if the company is operating for less than three years)

  • If applying as a partnership or corporation, submit a company profile, including history, founders, and notable executives

  • Employed applicants have to submit an employment contract, certificate of employment and compensation (COEC), most recent three-month pay stubs, or most recent ITR (BIR form 2316), SBC CI Unit's Employment Verification (EV). Special Power of Attorney, if OFW (SPA)

Business Express Loan

Security Bank SME business loans offer minimal documentation, quick approval, and auto-crediting of funds, making it suitable for your growing business. The minimum loan amount is ₱1,000,000, and the maximum loan term is ₱5,000,000. The loan payment terms are 12, 18, 24, and 36 months.

Requirements for a business Express Loan

The companies for whom the loan will be requested must be legally authorized to conduct business in the Philippines. They must be operating profitably for three years. They must not have any outstanding debt exceeding 40% of the company's monthly revenue. Apart from that, the loan application will require the following documents:

Documents

  • Duly filled application form ready for submission.

  • Two copies of current photo IDs from the primary applicant, owner, or authorized signatory

  • Newest ITR bearing a BIR stamp

  • Audited financial statements for the most recent (1) year

  • Current three-month bank statement

  • GIS and legitimate DTI/SEC registration documentation depending on your occupation.

  • List of clients/suppliers and information about their transactions (The bank will require the following papers before loan booking:

  • Board or Partnership Resolution (authorizing signatory for accounts and loan, credit investigation on both the business and owners)

  • Clients will receive templates at the application time to help them prepare for the loan decision, including a Continuing Suretyship Agreement (for corporations).

  • Mayor's or valid business permit

How to apply?

With these easy steps, you can get a business loan from Security Bank.

  • You can apply by downloading the business loan application form from their website, and submitting it at a nearby branch after you fill out the necessary details.

  • After submission, you can track application status through SMS updates.

  • You will also receive an email confirmation for approval details

Pros and cons

Before deciding whether to apply for a business loan, applicants should constantly weigh the advantages and disadvantages of doing so.

Pros

  • It might hasten the expansion of your company.

  • It can be applied to resolve cash flow problems.

  • You can use the loan calculator to determine the potential cost of your loan.

Cons

  • If you get behind on payments, you risk losing assets.

  • Substantial credit is a requirement for you.

  • Term flexibility is lacking.

How to repay?

Security Bank business loans can be paid through ADA or over-the-counter payment. Customers can also deposit post-dated checks in the bank, which may be withdrawn from time to time to complete payments. If you miss your payment, you'll be charged a late payment penalty of 6%.

FAQ

How will I know if my application has been accepted by Security Bank?

Upon loan acceptance, you will receive an SMS, and a SPOC will contact you to arrange a booking appointment in the branch.

How will I get the money from the Security Bank business loan?

Loan proceeds will be credited to your designated account right away after booking. You will need to open an account at the branch if you do not already have a Security Bank CA/SA account at the time of booking.

Can I get a loan again from Security Bank?

As long as half of the principal of the original loan has been repaid and there has not been a history of missed payments, loans can be re-availed. The previous loan balance will be subtracted from the proceeds of the new loan upon booking.