Guide on BDO SME Loan Requirements for Application
BDO SME LOAN REQUIREMENTS – For sole proprietorship or individual applicants, here are the documents required in applying for the BDO business loan offer.
Are you looking for a bank that can help you grow your business? In the Philippines, one of the entities that you may turn to is BDO Unibank. It has the Term Loan which can provide you with cash as well as the SME Ready Check that can provide you with a credit line.
The business loan offers accept residential properties as the collateral in applying for the loan offer. Here are the accepted collateral under the business loans:
- House and lot
- Commercial Property
- Vacant Lot
- Condominium
- Townhouse
- Mixed Use Property (Residential/Commercial)
The BDO loan offers is open for different types of applications. The bank has set qualifications and BDO SME loan requirements among individual applications, partnerships, and corporations.
To qualify for the business loan offers, here are the qualifications that the applicant must meet:
- 21 years old and above at the time of the loan application but not exceeding 70 years old at the end of the loan term
- Sole Proprietorship, Partnership, Corporation
- Business is in profitable operation for at least 2 consecutive years
- with a minimum annual gross sales of Php 1 million
- Business is within a BDO serviceable area
As mentioned earlier, there are varying BDO SME Loan requirements. In the case of sole proprietorships or individual applications, here is a guide on the documents that must be submitted in applying for the loan offer:
Locally-Employed Individuals
- duly-accomplished and signed BDO SME Loan Application Form
- clear copy of one (1) valid ID matching application details
- Marriage Contract (if applicable)
- Latest Income Tax Return or BIR Form 2316 or latest payslip
- Certificate of Employment (COE) with Salary
Self-Employed Individuals
- duly-accomplished and signed BDO SME Loan Application Form
- clear copy of one (1) valid ID matching application details
- Marriage Contract (if applicable)
- Photocopy of Audited Financial Statements for the last 2 years with latest ITR
- Bank Statements for the last 6 months or Photocopy of Passbook showing at least 6 months transactions
- Certificate of Business Registration with DTI
- Business Background/Company Profile
Overseas Filipino Workers (OFWs)
- duly-accomplished and signed BDO SME Loan Application Form
- clear copy of one (1) valid ID matching application details
- Marriage Contract (if applicable)
- Proof of Remittance for the last 6 months
- Latest Crew Contract (for seafarers)
- Certificate of Employment with Salary/Employment Contract
