BDO Overview
BDO is a Philippine full-service universal bank. BDO works with retail, mall operations, property development, and financial services as a part of the SM Group, one of the country’s giant conglomerates.
In addition to lending, deposit-taking, and foreign exchange brokerage and trading, it provides a wide range of services to retail and business customers, including credit cards, corporate cash management, and international money transfers.
Finally, BDO has the largest distribution network all over the country, providing leasing and finance, investment banking, private banking, wealth management, insurance brokerage, and stock brokerage services.
BDO Business Loan Products
The following BDO business loan products and features may interest entrepreneurs seeking financial assistance:
Term Loan
BDO term loans give company owners the capital they need to make long-term business investments. It also includes purchasing new assets such as machinery and equipment, acquiring real estate properties, and even building, repairing, and refurbishing company facilities.
Features
Loanable Amount: ₱1 million to ₱20 million or use up to 70% of your real estate property’s value.
Loan Term: maximum of 10 years
SME Ready Check
SME Ready Check is a revolving credit line suitable for business owners who seek additional funding but don’t want to go through the same time-consuming loan processes.
It involves purchases of inventory or supplies to fulfill seasonal or big orders, working capital, and payments to suppliers while waiting for customers’ collection.
Features
Loanable Amount: ₱3 million to ₱20 million or use up to 70% of your real estate property’s value.
Loan Term: 1-year validity with an option to renew
BDO Business Loan Requirements
Before you go to a branch and apply for a loan ideal for your business, complete these necessary documents or requirements.
Sole Proprietorship / Partnership / Corporation
Basic Requirements:
- Duly filled out application form
- 1 Valid government-issued ID
- Latest Income Tax Return (ITR) with the audited financial statements for the last two years
- 6 months’ copy of the bank statements
Additional Requirements:
Sole Proprietorship
- If married, a copy of the marriage contract
- DTI Registration
- Company Profile
Partnership
SEC-issued Certificate of Registration and Articles of Incorporation
Corporation
SEC-issued Certificate of Registration/Articles of Incorporation and by-laws/General Information Sheet/Secretary’s Certificate or Board of Resolution
Business Loan Application Process
If you are thinking about getting a bank loan for your business, here’s what you’ll need to do:
Check your Eligibility
Loan applicants must not exceed 70 years old at the time of loan maturity.
Business Owners
Must be a duly registered business (Sole Proprietorship, Partnership, Corporation)
Profitable business operations for 2 consecutive years
The minimum gross annual sales must be ₱1 Million
The business is located within the service area of BDO.
Prepare the Documentary Requirements
In addition to the basic and additional requirements to proceed with the loan application, the borrower must also prepare the collateral documents.
Collateral Documents
Copy of Land Title
Lot plan which includes the vicinity map
The latest copy of the tax declaration
Special Power of Attorney (SPA), if required
Loan for Construction
Building / Floor Plan of the intended improvement/development
Bill of Materials required
Specifications of the proposed finishes
Refinancing/Loan Take out
Current bank’s Statement of Account (SOA)
Latest three (3) months’ Official Receipts (ORs)
Other documents as and when required during evaluation
Submit Application Form and Requirements
You may submit your accomplished documents and requirements through any of the following channels:
Apply Online through the BDO website
Visit any of the BDO Loans Center
Apply through your nearest BDO Branch
Conclusion
BDO can provide loans to help entrepreneurs climb the growth curve. To apply for a business loan, you must first select the best loan for your company’s needs, decide on the purpose and amount of the loan, review the bank’s eligibility requirements, and then submit the required paperwork.
Completing the required documents on time with an emphasis on your audited financial statements increase your chances of loan approval within the shortest possible time.
Aunt Piggyy
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