Guide on Maybank Retail SME Loan Features & Application
MAYBANK RETAIL SME LOAN – Through its business loan offer, Maybank Philippines is ready to help bring your business to greater heights.
Are you ready to bring your business to a different level? In the Philippines, one of the banks that can help you achieve the goal is Maybank, a reputable banking entity with countless clients across the nation.
Maybank has several loan offers — personal loan, auto loans, home loans, and a business loan. The business loan offer of the bank is the Maybank Retail SME Loan that can be your perfect financial partner that can provide you with either a credit line facility or a term loan.
A Revolving Credit Line is intended “for short term working capital needs that can be used for inventory build-up and for liquidating receivables”. A Term Loan was designed “for long-term working capital requirements that can finance your business expansion, acquisition of fixed assets, machinery equipment and other business development projects”.
Under the Maybank Retail SME Loan, the bank provides a one-year credit line facility or term loan. The loanable amount ranges from Php 500,000 up to Php 50 million. The bank allows up to 90 days PN term for Revolving Credit Line and up to 20 years for Term Loan.
What are the requirements set by Maybank in applying for the loan offer? Here’s a guide on the documents that the bank requires for submission to apply:
- duly-accomplished and signed Maybank Retail SME Loan Application Form
- Latest 2 years Management /In-house Financial Statements
- Latest 2 years Audited Financial Statements and Income Tax Returns
- Company profile or business background
- SEC Articles of Incorporation / Partnership and By-Laws / DTI Business Name Registration/GIS/Business Permits
- Latest 6 months Bank Statements with major depository banks
- List of customers and suppliers with contact details
- Statement of Assets and Liabilities of major stockholders (if corporation)
- Government issued IDs of Principals
- Resume of principals
- Photocopy of Transfer Certificate of Title or Condominium Certificate of Title
- Lot plan with vicinity map / floor plan for condominium
- Tax Declaration (Lot & Improvement)
