Lists of PSBank Requirements for Business Credit Line Application Process
PSBANK REQUIREMENTS FOR BUSINESS CREDIT LINE – Here are the documents required by the bank based on the collateral.
In the Philippines, banks are among the entities that you can turn to for business loans. What sets the Philippine Savings Bank apart from many other banks is that it has multiple business loan offers.
Aside from the PSBank SME Term Loan that offers either a revolving credit line or a term loan, it also has the SME Business Credit Loan that can widen your access to find solutions for your business needs.
You may apply for the SME Credit Line offer for the purpose of increasing your business’ working capital, stocking your inventory, expanding your business location, etc. It provides access to quick funds both instant funds for your business and checks that client can issue even during weekends.
The PSBank requirements for Business Credit Line application requires specific documents with regards to the purpose of applying for the offer. You may refer to these lists below:
For Construction or Renovation
- Building plans
- Bill of materials and cost estimates / specifications
For Acquisition
- Contract to sell
- TCT of property being acquired
For sureties and co-borrowers
- duly-accomplished Business Loan Application Form and Statement of Assets & Liabilities
- two (2) valid IDs
- Income Tax Return (ITR)
The SME Business Credit Line loan offer requires a collateral which can either be a property or a time deposit as the collateral.
Aside from the documents stated above, there are also specific PSBank requirements for Business Credit Line application depending on the type of business:
| Type of Business | Requirement(s) |
| Rentals | Lease Contracts |
| Construction | Notarized Service Agreements/Contracts, List of Completed and On-going Projects |
| Franchise | Franchise Agreements |
| Manpower, labor or transport business | Service Contracts |
| Exporters | Purchase Orders |
| Contract Growers | Supply Contract |
| For businesses such as healthcare providers, overseas and local manpower providers, and rice or grain dealers | Licenses or accreditation from institutions or government agencies |
| Businesses in sales or exclusive distributorships | Contracts / Distribution Agreements |