Guide on Landbank Business Term Loan 2023 Application Process
LANDBANK BUSINESS TERM LOAN 2023 – Here is a guide on how to apply for the business loan offer and the requirements for application.
In the Philippines, banks are among the entities that you may turn to for loans if you want to start a business or expand an already-existing one. One of these banks is the Landbank of the Philippines.
The Landbank of the Philippines offers checking and savings accounts, loans, credit cards, and several other financial offers. Aside from the Landbank Housing Loan 2023, the government bank also offers Landbank Business Term Loan.
The Term Loan offer of the Landbank of the Philippines serves several purposes. You may apply for the offer to finance any of the following:
- finance business expansions
- purchase of additional machinery and equipment / fixed asset acquisition
- finance permanent working capital arising from expanded operations
- project financing
The Landbank of the Philippines has not provided details about the loanable amounts and the interest rates under the loan offer. Meanwhile, the approved amount and the interest rates are usually on a case-to-case basis depending on the assessment of the lender and the agreed term.
There is an easy process for the Landbank Business Term Loan 2023 offer application. Here are the steps that you may follow to apply:
Step 1 — Who Are Qualified
The Term Loan offer of the Landbank of the Philippines is open for sole proprietorships, partnerships, and corporations. The government bank has also indicated the eligible projects such as the following:
- Agri-business
- Manufacturing
- Trading
- Services
Step 2 — Prepare the Requirements
The Landbank of the Philippines has set different pre-processing requirements for Landbank Term Loan application among sole proprietors and partnerships and corporations. Gather the documents required by the bank.
For the requirements in photocopies, make sure to also be prepared for the original copies of the documents.
Step 3 — Go to Landbank
Visit a branch of the Landbank of the Philippines nearest to you. Submit your documents and wait for an update from the government bank.
