Small and Medium Enterprise (SME) Business Loan

 

a.  Brief Description

 

Small and Medium Enterprise (SME) Business Loan is a secured or unsecured credit facility that caters to the business financing requirements of entrepreneurs and business owners. The program provides term loans or revolving credit lines.

b.   Qualifications

Duly registered sole proprietorship, partnership or domestic corporations engage in business within the Bank’s coverage areas. Results of operation of the business should reflect a profit for the preceding year.

c.    Collateral

This type of loan may be secured or unsecured, depending upon the amount of the loan. Acceptable collateral are condominium, bank deposits, or vehicle owned by the borrower.

 

d.  Loanable Amounts

Loanable amount or revolving credit line range from PHP100,000 to PHP1,000,000 for a clean loan. For higher amount, the loan shall be subject to collateral. The total loan exposure shall not exceed PHP10,000,000.00.

 

e.  Loan Charges

 

Processing Fee: fixed at PHP1,500.00

 

Mortgage Redemption Insurance (MRI) : Based on actual amount charge by the insurer

                                                                 based on the loanable amount of the loan.

 

Documentary Stamp Tax (if applicable) : PHP1.50 on each PHP200.00 or fractional part

                                   thereof (applicable to loans amounting to P250,000.00 and above)

 

Notarial Fee (if applicable) : fixed at PHP200.00(applicable to loans amounting to

                                   P200,00.00 and above)

 

  • Appraisal Fee of P1,500.00 (in case secured by condominium, and principal amount of loan is less than PHP5M)
  • Appraisal Fee of P1,500.00 (in case secured by second hand auto)
  • Appraisal Fee of P6,000.00 (in case secured by second hand condominium, and principal amount of loan is at least PHP5M)

 

f.  Loan Term:

Maximum term is 5 years for term loan.

Revolving Credit Lines shall be valid from 6 months to 2 years, subject to re-evaluation, new terms and conditions, and approval in case of extension.

 

g.   Co-maker

 

May or may not be subject to co-maker, depending upon the qualification of the applicant.

 

h.   Processing Time

 

Clean Loan:

 

3 to 5 banking days upon submission of complete requirements.

 

Secured Loan:

 

7 to 10 banking days upon submission of complete requirements.

 

i.   Requirements

 

For employed individuals:

 

1. Completely filled-up application form with 2X2 Photo

2. Certificate of Employment (COE)

3. BIR Form 2316

4. One month latest payslip

5. Copy of two (2) valid ID

6. Latest residential proof of billing

7. Post dated checks for the monthly amortization of the loan

8. If the applicant is married, the spouse shall co-sign regardless of whether the loan is secured or not

 

For self employed individuals with business:

 

1. Completely filled-up application form with 2X2 Photo

2. Business papers

3. Copy of two (2) valid ID

4. 6 months bank statement

5. Document showing active membership with the Philippine Dental Association or Philippine Medical Association, in case of dentist or doctors, respectively

6. Post dated checks for the monthly amortization of the loan

7. If the applicant is married, the spouse shall co-sign regardless of whether the loan is secured or not.

 

Requirement 2 must be updated every year.

 

Additional requirements in case the loan is secured by auto

 

1. Original official receipt and certificate of registration

2. Insurance of the collateral endorsed to the Bank

3. Clear stencils of the engine or chassis numbers of the vehicle

4. Car history in case of second hand vehicle

5. If applicant is married, spouse will also act as co-borrower

 

Requirement 2 must be updated every year.

 

Additional requirements in case the loan is secured by condominium

 

1. Condominium Certificate of Title (CCT), under the name of the borrower or co-borrower

2. Tax Declaration

3. Updated tax receipt and tax clearance

4. Insurance of the collateral endorsed to the Bank

5. If applicant is married, spouse will also act as co-borrower

 

Requirements 3 and 4 must be updated every year.

© 2017 Yuanta Savings Bank Philippines, Inc. All right reserved.

a proud member of

 

Yuanta Savings Bank Philippines, Inc. is a wholly owned subsidiary of Yuanta Commercial Bank in Taiwan, and is regulated by the Bangko Sentral ng Pilipinas.

For inquiries or complaints, you may call Yuanta Savings Bank Customer Service at (02) 845-3838 or send e-mail to ysb.customerservice@yuanta.com.ph.

Similarly, you may also contact the BSP Financial Consumer Protection Department at (02) 708-7087.