BPI Business Loan Requirements

BPI Overview

In 1851, the Bank of the Philippine Islands (BPI), also known as El Banco Español Filipino de Isabel II, was founded. It’s the first Southeast Asian bank established to help Filipino families and our country’s progressive economy through its businesses, products, and services. 

BPI is constantly creating and adjusting its services based on what Filipinos need. By the end of 2021, BPI has reached 1,176 branches in the Philippines, Hong Kong, and Europe, including the five express banking centers across the country. Its expansion has made its products and services more accessible to Filipinos worldwide. 

BPI’s mission is to build a better Philippines as it supports both public and private sectors. It also aims to be a catalyst for economic growth and nation-building.

BPI Business Loan Products 

SME Term Loan

This loan is perfect for businesses needing more funds to expand, payments to suppliers, working capital financing, purchase of equipment and inventory, and capital expenditures.

Loan Features 

Loan Amount:  minimum of ₱300,000.00

Loan Tenure: up to 5 years

Processing Fee: ₱3,500.00

Collateral Requirements:

• Real Estate Mortgage
• Investment
• Deposit

SME Credit Line

This type of financing works just like a credit card wherein a company is approved of a certain limit, and they can use the fund as and when they require it as long as it falls within the limit. 

Loan Features 

Loan Amount:  minimum of ₱300,000.00

Loan Tenure: 1 year renewable

Processing Fee: 0.5% of the approved loan amount

Eligibility

Borrowers who are interested to apply must meet the following criteria: 

• Must be a Filipino Citizen residing in the Philippines for at least 2 years
• Must be at least 21 years old but not more than 70 years old when the loan matures. 
• Business must be operating for at least 3 years.

Business Loan Requirements

The requirements will depend on the type of business. Following are the documents needed to proceed with the loan application: 

Sole Proprietors and Individuals 

• Duly filled out application form
• Business Documents (DTI Registration/Business Permit)
• Government-issued UD
• Spouse’s ID (if necessary)
• Bank Statement for the last 3 months 
• Income Tax Return (ITR) for the last 3 years

Partnerships and Corporations

• Duly filled out application form
• Business Documents (SEC Registration)
• Duly accomplished General Information Sheet (GIS)
• Articles of Incorporation/Partnership document including any amendments
• Company By-Laws and its amendments (if any)
• Government-issued IDs of the majority shareholders or authorized signatories of the company
• Bank Statement for the last 3 months 
• Income Tax Return (ITR) for the last 3 years
• Last 3 years Audited Financial Statements (AFS)  

Business Loan Application

There are three ways for borrowers to avail of the business loan products of BPI. It is through the following methods: 

• Borrowers can visit the nearest BPI branch along with the requirements. 
• Call BPI at (02) 7918-2000, and press 2 for Business loans or;
• Send an email to [email protected] for an initial inquiry or proceed to attach the requirements in the email. 

Conclusion

Choosing the correct bank and service makes attaining your business goals possible. Expanding and upgrading the current business operations is a huge turning point for each company. 

BPI SME Term Loan can help you reach what’s impossible despite the economic instability and inflation. Through BPI’s straightforward business loan requirements, many entrepreneurs can apply anytime.