Landbank Business Loan – Requirements in Applying for Term Loan

Guide on Landbank Business Loan Requirements Applicants of Term Loan Must Prepare

LANDBANK BUSINESS LOAN – Here is a guide on the requirements that the Landbank of the Philippines has set under its Term Loan offer.

Undeniably, a lot of people were able to uplift their status in life through a successful business. This is true to a lot of businessmen although not everyone in the said field achieved success as some were left in debts.

However, truths be told that a business may need a lot of capital to sustain it not just in the beginning but as it progresses. This is where some business owners are having a hard time with.

Meanwhile, you may turn to banks now as several banks got business loans. One of these bank is the top government bank in the country – the Landbank of the Philippines.

Landbank got several types of loan offers for the public and for specific groups of individuals. You may visit – LANDBANK LOAN OFFERS – List of Loans Offered by Land Bank of the Philippines.

With regards to the Landbank business loan offers, it includes the Term Loan Facility. It is open for the financing of a business expansion, the purchasing of additional equipment, project financing, and financing the working capital.

There are requirements in applying for the Term Loan Facility set by Landbank. Here is a list of the documents that you must submit in applying for this Landbank business loan offer:

For Single Proprietorship:

• 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
• History of the Business

For Partnership and Corporation:

• 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
• History of the business

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: LANDBANK OFW LOAN – How Much You Can Borrow Under this Loan