Loanste.com - Business loan requirements BDO consists of some criteria because it offers 4 loan options. There are a small business loan, finance project loan, Term Term, and working capital loan. If you are the Philippines, you can get those loan. However, discussing the requirements for a business loan in BDO is impossible. It is because those loan types need a long explanation and this page is not enough to load. Consequently, you only get some information about the small business loan. Seemly, this type is more general than the other. Later, you can use the fund for any business.
Business Loan Requirements BDO for Small Business
You may get some kinds of the business loan requirements BDO associated with the small business. Clearly, there are general and special requirements that you should know. It is such as below:
- General Requirements:
- You must be at least 21 years old and not exceed 65 years of age at the end of the settlement.
- Have a stable income from both business and other jobs.
- Have professional practice (doctor or lawyer) for three years.
- You have worked for at least two consecutive years with a level manager.
- Your business has benefited at least in the last two years. Then, BDO can still reach your business.
- Requirements when registering:
- Complete the data and give a signature on the registration form.
- Include valid ID matching copies such as driving license, passport, and others.
- Add a marriage contract if there is one
Income Documents for BDO Loan Requirements
Besides some information above, the business loan requirements BDO still ask for others. The bank, usually, asks some documents according to some criteria:
You who work in the country (Philippines) must provide the Latest Tax Return. You can also provide BIR 2316 or the latest payment slip. Then, you pay a Certificate of Employment (COE).
- Filipinos working overseas (OFW)
Give them proof of remittances for the last three months in a row. If you are a sailor, give your latest crew contract. If you do not have proof of income, include an Employment Certificate with a work contract salary.
- Single Owner or Entrepreneur
Complete the document with a copy of the Financial Report that has received an audit for the past two years. Prepare the document along with a copy of the latest ITR. There are also requests for Bank Reports or photocopies of Passbooks for the last three months. Provide a copy of the Business Registration Certificate with the DTI. Then, include your business background or company profile. Give other proof of income if you.
There are three conditions that you must fulfill where two of them are the same as the previous conditions. For the third condition, provide AND Registration Certificate from the SEC.
It has three requirements such as the Partnership but the third point gives a bit suggestion.
Join to business loan BDO and get the loan up to Php20 million. However, you need to guarantee some precious things. You may pledge TCT copy or CCT, photocopy of tax statement, and assessment fee. Remember, only use the business loan requirements BDO for your small business dream. Indeed, achieving goals sometimes requires debt.