Guide on How Much You Can Borrow Under China Bank Savings Loan
CHINA BANK SAVINGS LOAN – Here is a guide on how much you can borrow under the business loan offer of China Bank Savings.
A lot of people have uplifted their status in life because of a progressive business. Many ventured and took the risk in the hope of making their money grow and being able to launch something that can give them a stable and sufficient income.
However, a business may appear to be not suitable for everyone. On the outer view, someone who wants to engage in a business really need to have a capital. There are those that require little capital but most really need a huge amount of money for the start-up.
The good thing now is that there are several entities like banks that offer assistance in starting or growing a business. One of the offers is the China Bank Savings Business Loan.
Under the said offer, you may be employed and running a business at the same time. Here is a list of the requirements in applying for the said loan offer:
- Pre-screening Form signed by the originating AO/BM
- Application Form signed by the borrower/s
- Copy of the Official Receipt of Appraisal Fee
- Copy of valid ID (with photo & signature) of the borrower/s, major shareholders and authorized signatories, if applicable
- Latest Income Tax Return (ITR)
- Latest two (2) months pay slips
- Certificate of Employment with Compensation
- Collateral Documents-REM
- Copy of OCT / TCT / CCT
- Updated tax declaration
- Vicinity Map / Location Plan / Lot Plan
- Master Deed of Restriction (for Condo units)
- Building Plans (for Building Construction)
- Costing of Materials (for Building Construction)
You might want an idea on how much you can borrow under the said China Bank Savings loan offer. For business purposes, the “Small Biz Term Loan” offer may lend you up to P10-million.
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