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.
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.
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
- Two (2) Philippine valid IDs
- 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.
