PSBank Business Loan Requirements for Credit Line with “Property Collateral”

Guide on PSBank Business Loan Requirements You Must Submit for Credit Line Application

PSBANK BUSINESS LOAN REQUIREMENTS – Here are the documents required by PSBank if the collateral for a credit line is a property.

A lot of people now prefer putting their money in a business instead of saving it in banks where it may earn very little interest. Many individuals are now multi-millionaires following a successful business. However, truth be told that growing a business may also require a lot of money or working capital.

PSBank Business Loan Requirements for Credit Line
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Meanwhile, nowadays, there are a lot of options that you can turn to if you want to grow a business. Among these are loans and one of the entities that you can turn to is the Philippine Savings Bank or more popularly called PSBank.

PSBank
Photo Credit: Metro News Central

The Philippine Savings Bank or PSBank is a subsidiary bank of Metrobank. It has several loan offers that encompass both personal and business categories.

Aside from the PSBank SME Term Loan, the PSBank business loans also include a credit line. The SME Business Credit Line aims to widen the resources of businessmen.

This loan requires a collateral. The PSBank business loan requirements for a credit line depends on the type of collateral you will use in applying for the loan.

You can present a property as the collateral. Here are the PSBank Business Loan requirements for a credit line using a property as the collateral:

  • duly-accomplished and signed Business Loan Application Form and Statement of Assets & Liabilities
  • Business registration papers:
    • DTI Certificate of Registration
    • SEC Articles of Incorporation and By-Laws, General Information Sheet
  • Company profile and ownership structure
  • Income Tax Returns with Audited Financial Statements for the last 2 to 3 years duly stamped “received” by the BIR
  • Waiver of Confidentiality of Client’s Information and/or Authority of the Bank to Conduct Random Verification with the BIR (as indicated in the application form)
  • Interim Financial Statements, if available
  • photocopy of bank statements or passbook within the past 6 full months
  • Trade References / List of at least five major suppliers and clients with contact names and contact details
  • photocopy of TCT, tax declaration and vicinity map of the offered collateral

You may also use a time deposit as the collateral in applying for a loan. There is a different set of requirements for the PSBank Business loan for credit line offer using a time deposit as the collateral.

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