Guide on BDO Business Term Loan 2023 — How Much You May Borrow
BDO BUSINESS TERM LOAN 2023 – Here are the minimum and maximum loanable amounts under the Term Loan offer of BDO Unibank.
Are you looking for a business loan? In the Philippines, one of the entities that you may turn to is BDO Unibank. It is one of the biggest, most popular, and trusted banks in the country. It has multiple loan offers.
One of the loans offered by BDO Unibank is the BDO Business Term Loan 2023. A lot of businesses in the Philippines were founded and expanded with the help of this loan offer of the trusted banking entity. It can serve several purposes.
Under the BDO Term Loan offer, the loan applicant may apply for loan to finance any of the following purposes:
- Purchase of new assets such as machines and equipment
- Acquisition of real estate properties
- Construction or renovation of business facilities
- Repair of business facilities
The loanable amounts under the BDO Business Term Loan 2023 offer depends on the evaluation of the bank. Meanwhile, here is the range of the borrowing amounts allowed under the loan offer:
- Minimum Loan Amount: ₱1,000,000
- Maximum Loan Amount: ₱50,000,000 or 70% of the appraised value of the
Under the loan offer, there must be a collateral. Here is a list of the acceptable collaterals under the loan offer:
- House and lot
- Commercial Property
- Vacant Lot
- Condominium
- Townhouse
- Mixed Use Property (Residential/Commercial)
To qualify for the BDO Unibank loan offer, the loan applicant must be at least 21 years of age upon the loan application but not more than 70 years old upon the loan maturity. With regards to the business, it must comply the following eligibility criteria set by the bank:
- Sole Proprietorship, Partnership, Corporation
- Business is in profitable operation for at least 2 consecutive years
- Minimum annual gross sales of ₱1M
- Business is within a BDO serviceable area
Aside from the eligibility requirements, there are also documentary requirements for BDO Term Loan for business application. Submit your documents to the bank to apply for the loan offer. You will receive the result of your loan application to BDO Unibank within 10 banking days.