This is a short-term loan available for working capital requirement of the clients. Can be used to cover cashflow requirements to finance receivables, inventories, seasonal operating needs, or to meet business expansion.
- Acquisition of fixed assets.
- Purchase of equipment.
- Construction / Expansion / Modernization of building, factories and plants.
- Working capital requirements.
- Aacquisition of raw materials, supplies, etc.
- Trading operations.
|Loan Amount||Dependent on the borrower's requirements, paying capacity and the appraised value of the mortgaged property / collateral, whichever is lowest.|
|Loan term||Up to a maximum term of 12 months.|
|Repayment terms||Equal monthly amortization thru postdated checks.|
- Allow clients to borrow short term funds to finance its day-to-day operations.
- Properly filled out Loan application form.
- Audited financial statements/Income Tax Returns (ITR), Income statement and balance sheet.
- Bank statements for the last 3 months.
- Trade references - at least 3 major suppliers and 3 major customers with contac persons and tel.nos.
- Business Registration Papers (Certificate of Business Registration DTI/SEC, Articles of Incorporation and By- laws.
- Title and Tax declaration.