SECURITY BANK PHILIPPINES BUSINESS LOAN

SME Business Express Loan

Unsecured, fast, and hassle-free business loans for your company’s growing needs. An SME Business Loan is perfect for businesses looking to finance short term needs—whether it’s equipment, office spaces, or cash for day-to-day operations. With minimal documentary requirements, fast approval and auto-crediting of funds, Security Bank SME Business Loan is tailor-fit to the growing needs of your business.

Features

• Minimum loan amount: PHP 1,000,000
• Maximum loan amount: PHP 5,000,000
• Loan payment term: 12, 18, 24, or 36 months

Benefits

• No collateral required for loans up to P5,000,000
• Avoid the hassle with minimal application requirements
• Enjoy seamless processing & approval in as fast as 5 days.
• Loan proceeds are auto-credited upon disbursement of funds.

Eligibility Requirements

The businesses to which the loan will be applied for must meet the following criteria:

1. Duly registered to operate as a business in the Philippines;
2. Must have been operating for at least 3 years and profitable for the latest 1 year.
3. Must have no outstanding debt that exceeds 40% the company’s monthly income
4. Each SME loan must be tied to the business’ primary owner; for partnerships/corporations, this means:

• Owner with simple majority (individual with the single largest stake in the company) must provide details and sign off on the loan application form, and ultimately be the signatory in the surety agreement prior to loan booking
• If simple majority is shared across multiple owners, only (1) of them is required to sign off on the loan

5. Identified business owners will then be required to have:

• An existing account with Security Bank (at least 6 months old with PHP 50K ADB) OR Existing credit card (any bank; credit card number/s must be provided in application)
• Permanent residency in the Philippines;
• At least 21 years of age at the time of application and not more than 65 years of age upon maturity of the loan

Documentary Requirements

SOLE PROPRIETORSHIP

1. Signed and Completed Application Form
2. Copy of 2 valid IDs with photo from primary applicant / owner / authorized signatory
3. Latest ITR with BIR stamp
4. Latest (1) year Audited Financial Statements
5. Valid DTI Registration docs
6. Latest 3 months bank statement
7. List of customers/suppliers and details about their dealings
8. Valid Business or Mayor’s Permit

PARTNERSHIP/CORPORATION

1. Signed and Completed Application Form
2. Copy of 2 valid IDs with photo from primary applicant / owner / authorized signatory
3. Latest ITR with BIR stamp
4. Latest (1) year Audited Financial Statements
5. Valid DTI/SEC Registration documents and GIS
6. Latest 3 months bank statement
7. List of customers/suppliers and details about their dealings (The following documents will be required by the bank prior to loan booking:

• Partnership / Board Resolution (authorizing signatory for accounts and loan, credit investigation on both the business and owners)
• Continuing Suretyship Agreement (for corporations) Client will be given templates at point of application to prepare for the loan decision)

8. Valid Business or Mayor’s Permit

Fees and Charges

• Processing fee: Notarial fee: PHP 2,000
• Notarial fee for Sole Proprietorships: PHP 400
• Notarial fee for Partnerships and Corporations: PHP 800
• DST: Approved Loan Amount / 200 * 1.50
• Penalty fee: 3% of past-due amount for the month

You can apply through:

1. Online Application Form
2. Download Business Express Application Form together with the requirements and submit at a branch near you.