Guide on the Requirements for Landbank Business Loan for Working Capital & Liquidity Support Facilities
REQUIREMENTS FOR LANDBANK BUSINESS LOAN – Here are the documents needed in applying for loan for working capital and liquidity support facilities.
Nowadays, you do not have to wait for several months or years so you can start a business or expand an existing one. There are several loan offers that can help you get to your goal the fastest way possible. One of the business loan providers in the country is the Landbank of the Philippines.
Landbank, a government bank in the country, actually has severa loan offers. Aside from the Landbank Housing Loan 2023 and the Landbank Business Term Loan 2023, it also has the loan offer for working capital and liquidity support facilities. The said loan offer is open for several projects.
This Landbank business loan offer is open for agri-business, manufacturing, trading, and service businesses. It can provide several resources to your business such as the following:
Short Term Loan Line
- financing of contracts
- financing of accounts receivable
- purchase of raw materials or finished goods inventories
Domestic Standby LC Line
- guarantee borrower’s performance of service or purchases from local suppliers
Import/Domestic Letter of Credit (LC) / Trust Receipt (TR) Line
- payment for the goods import from local or offshore suppliers
Domestic Bills Purchase Line
- buying of check for immediate credit to deposit account without waiting for the clearing period
The Landbank of the Philippines did not mention the loanable amounts under the offer as it is most likely a case-to-case basis. There are documents that you need to prepare in applying for the loan offer for working capital and liquidity support facilities:
For single proprietorships, prepare the following documentary requirements for Landbank Business Loan application:
- Landbank Loan Application Form
- Bio-data of borrowers with passport-size ID picture
- Photocopy of Certificate of Registration with the
- Department of Trade and Industry
- Mayor’s Permit
- Photocopy of Internal Tax Revenue and audited (BIR-received) Financial Statement for the last three years
- Latest interim Financial Statement
- Projected income statement, balance sheet
- and cash flow statement with basic assumptions
- Brief history of the Business
There is a different list of pre-processing requirements for Landbank Business Loan application for partnerships and corporations. Here are the documents needed for the Landbank loan application:
- Landbank Loan Application Form
- Photocopy of Certificate of Registration with Department of Trade and Industry, Securities and Exchange Commission or Board of Investments
- Certified True Copy of Articles of Incorporation/Partnership and by-laws
- Board Resolution authorizing the management to obtain loan from LANDBANK and designating the authorized signatories
- Notarized list of the following (certified by the Corporate Secretary for corporations):
- Officers
- Partners (for Partnerships only)
- Board of Directors (for Corporations only)
- Principal stockholders and their stockholdings (for Corporations only)
- Bio-data of borrowers or proprietors, partners, key officers,
- Board of Directors with passport-size ID pictures
- Sworn Statement of Assets and Liabilities of borrowers/proprietors. partners, key officers, and Board of Directors
- Photocopy of Internal Tax Revenue and audited (BIR-received)
- Financial Statement for the last three years
- Latest Interim Financial Statement
- Projected income statement, balance sheet, and cash flow statement with basic assumptions
- Brief history of the business