Guide on Minimum & Maximum Loanable Amounts Under China Bank Business Loan
CHINA BANK BUSINESS LOAN – The China Bank Savings got this loan offer and here is a guide on the minimum and the maximum loanable amounts under it.
Are you one of those people who does not want to settle in simply waiting for your salary and spending it again? Do you want to find ways to make it grow and avoid waking up someday not knowing where all your earnings went?
You may consider putting up a business. However, truths be told that there is a big risk in this. Meanwhile, if you are really determined to take the risk and make it work, why not then?
Also, another undeniable fact is you will need a huge amount of capital. This is the reason why a lot of people wanted to have their own business but cannot pursue it. The truth is, there are several options.
You may consider loans such as the China Bank Business Loan offered by China Bank Savings. It actually has three offers – the Small Biz Term Loan, the Small Biz Revolving Credit Line, and another Small Biz Revolving Credit Line.
In this article, we will focus on the Small Biz Term Loan. It is open for employed individuals. You just have to prepare for a Real Estate Mortgage (REM) or a combination of REM and Deposit Assignment.
Do you want to know how much you can borrow under this China Bank business loan? On its official website, the bank has not posted about the minimum loanable amount but its maximum loanable amount is Php 10-million. All applications will surely be under the bank’s approval.
For the requirements in applying for this China Bank Savings loan, the following must be prepared:
a. Duly filled-out Pre-screening Form signed by the originating AO/BM
b. Duly filled-out Application Form signed by the borrower/s
c. Copy of the Official Receipt of Appraisal Fee
d. Copy of valid ID (with photo & signature) of the borrower/s, major shareholders and authorized signatories, if applicable
e. Latest Income Tax Return (ITR)
f. Latest two (2) months pay slips
g. Certificate of Employment with Compensation
h. 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)
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: China Bank Savings Loans – Full List of Loans Offered by China Bank Savings