Guide on BDO Business Loan 2023 “Ready Check” — How Much You May Borrow
BDO BUSINESS LOAN 2023 READY CHECK – Here are the minimum and maximum loanable amounts under the offer of BDO Unibank.
Are you one of the business owners in the Philippines who are looking for options to boost the resources of your business? One of the entities that you may turn to in the country is BDO Unibank.
BDO Unibank actually has several offers for businesses. Aside from the BDO Term Loan 2023, it also has the Ready Check offer which can be the best solution of you are looking for access to a pool of funds that can be utilized like a revolving credit line.
The Ready Check loan offer is open to finance several business-related purposes. It works best for the following intents:
- Buying inventory or supplies to address seasonal or bulk orders
- Working capital to address operational requirements
- Paying suppliers while waiting for customer collection
Under the BDO Business Loan 2023 Ready Check offer, here are the loanable amounts set by the bank:
- Minimum Loan Amount: ₱3,000,000
- Maximum Loan Amount: ₱50,000,000 or 70% of the appraised value of the collateral
With regards to the repayment for the loan, the minimum loan term is one (1) year with an option to renew. The same goes with the maximum loan term under the offer. It is open for loan applicants who are at least 21 years old at the time of the loan application but not more than 70 years old upon the loan maturity.
The BDO Business Loan 2023 Ready Check offer is open for businesses that meet the following qualifications:
- 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
There are requirements for BDO Ready Check Loan application that you must prepare and submit to the bank. Make sure you have all the documents needed.