Landbank Working Capital Loan: Requirements in Applying for this Business Loan

List of Landbank Working Capital Loan Requirements for Application

LANDBANK WORKING CAPITAL LOAN – Here is a guide on the requirements in applying for this business loan offer of the Landbank of the Philippines.

Undeniably, a lot of people were able to grow their wealth through progressive businesses. While those are promising stories to hear, those people also braved huge risks to get to where they are today. Truth be told that most business ventures have two (2) extreme ends – losing and being left in debts and progressing and growing the wealth.

Are you one of those who want to start a business or grow what you already have? Many individuals want to engage in a business venture but not everyone has the fund to start.

Meanwhile, there are actually options that you may consider and among these are the loan offers. The Landbank of the Philippines is one of the banking entities with an offer.

One of the business loans offers by the bank is the Landbank Working Capital Loan. You may apply for it for any of the following purposes under the “Short Term Loan Line”:

• financing of accounts receivable
• purchase of raw materials or finished good inventories
• financing of contracts

Under the Import/Domestic Letter of Credit (LC) / Trust Receipt (TR) Line, you may borrow money for the payment of the goods import from local or offshore suppliers. The bank also offers Domestic Standby LC Line and Domestic Bills Purchase Line.

Landbank Working Capital Loan Requirements:

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
• Brief history of the Business

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
• Brief history of the business

READ ALSO: LANDBANK LOANS: List of Personal Loans Offered By Landbank