BPI Business Loan Application Form

BPI Business Loan Overview

BPI Business Loan,  more commonly referred to as SME Term Loan, is a secured loan offered among potential and growing entrepreneurs to finance their start-up or existing businesses. 

Borrowers will be asked to present collateral or any property that is valuable to them on top of the transaction fees and documents required to process their application. This is to assure both applicants and the bank that the loan amount will be completely repaid on time. Otherwise, the bank will automatically have the right to seize the collateral they have provided them.

Business Loan Purposes

Unlike typical Personal Loans, the primary purpose of a Business Loan is meant to help individuals who want to improve their business or build their own. In particular, the following are the ideal reasons why one should and will most likely apply for a Business Loan:

• Finance working capital
• Settle supplier payments
• Purchase business inventory and/or equipment
• Expenditures and expansion of capital

Loan Features and Benefits

Loan Amount: Minimum of ₱300,000 

Loan Tenure: Maximum of five (5) years

Acceptable Collateral:

• Real Estate Deposit
• Real Estate Mortgage
• Real Estate Investment

Fees and Other Charges

Processing Fee: ₱3,500

Eligibility Criteria

• Must be a duly recognized Filipino citizen
• Must be at least 21 years of age upon loan application and not older than 70 years old upon loan maturity
• Must be living for at least two (2) years in the present residence or immediately preceding residence
• The business to which the loan will be applied must have been operating for at least three (3) years 

Documentary Requirements

For Sole Proprietorship and Individuals

• Completely filled-out loan application form
• Department of Trade and Industry (DTI) Registration or Business Permit
• At least one (1) valid ID
• Spouse’s ID (if applicable)
• Bank statement issued by BPI and/or other banks for the past three (3) months
• Latest Income Tax Return (ITR) for the past three (3) years

For Partnerships and Corporations

• Completely filled-out loan application form
• Securities and Exchange Commission (SEC) Registration
• General Information Sheet
• Articles of Incorporation or Partnership including amendments (if applicable)
• By-Laws including amendments (if applicable)
• Photocopy of IDs of majority shareholders or authorized signatories
• Annual Financial Statements for the past 3 years 
• Bank statement issued by BPI and/or other banks for the past three (3) months
• Latest Income Tax Return (ITR) for the past three (3) years 

BPI Business Loan Application Form

The BPI Business Loan Application Form is a four-page form that collects all personal and loan details necessary to process the borrower’s application. It can be found online and downloaded from the bank’s official website. Loan applicants may also request a physical form from the bank.

The Business Loan Application form will look like this:

Loan Procedure

There are three (3) ways to apply or start the application process for a BPI Business or SME Term Loan and these can either be done through a personal visit or simply in the comfort of your home. The following are the steps on how to avail BPI SME Term Loan:

Conclusion

Starting to build a business amid a pandemic might be difficult at first due to the scarcity of resources including your financial capacity. However, falling short of cash will no longer be the main problem because a lot of banks like BPI provide high-quality and reliable Business Loans. It helps many entrepreneurs and aspiring individuals to pursue their dream businesses.