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MSME Loan

MSME Loan

A type of business loan provided to the major sector of the economy engaged in trade, services, manufacturing, whether single proprietorship, cooperative, partnership, or corporation, with total assets (excluding land) amounting to:


  • Micro Enterprises – total assets of P3 million below
  • Small Enterprises – total assets of above P3 million to P15 million
  • Medium Enterprises – total assets of above P15 million to P100 million
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List of Valid IDs

Eligible Borrowers

Engaged in any business activity. – Individuals at least 18 years old up to 65 years old. – Sole proprietorship, cooperative, partnership or corporation.

Loan Purpose

Additional working capital – Capital Expenditure – Other purposes intended for the business

Amount of Loan

Secured Loan – up to the Single
Borrower’s Limit (SBL) of the Bank.

Unsecured Loan – ₱1,000,000.00

Mode of Payment

Payable semi-monthly or monthly depending on the payroll schedule and the term of office of the barangay official/officers/staff.

Interest Rate

Based on credit scoring

Term

Minimum of three (3) months, maximum of five (5) years Revolving Credit Line – Maximum of 2-year term per Promissory Note.


Basic Requirements:

  • 2 Valid ID’s of Applicant/s
  • Latest Residence Certificate of Applicant/s
  • Latest ID Picture of Applicant/s (2×2) 2pcs.
  • Latest Income Tax Return (if any) / T.I Nos. of Borrowers
  • Proof of Billing
  • Bank’s Statement (if applicable)
If Applicant is Employed:
•  Latest Certificate of Employment or
•  In lieu of COE, duly signed employment validation
•  Latest 3 months Payslip
•  Employment Contract (if applicable)


If Applicant is a Proprietor:

•  Business Permit (Barangay Business Permit, SEC Registration, DTI Permit, Mayor’s Permit)

•  Latest General Information Sheet

•  Articles of Incorporation or Partnership

•  Board Resolution Authorizing the Loan

•  3 years Latest Audited Financial Statement (AFS)

•  Proof of Business Transaction (if applicable)

•  2 Valid ID’s of Authorized Signatories/Representative (Applicant)


Additional Requirements if secured with REM:

•  Title / Tax Declaration

•  Special Power of Attorney (if applicable)

•  Pictures of Collateral

•  Certified True Copy of OCT / TCT

•  Tax Declaration (land/bldg)

•  Tax Receipt (RETR – land/bldg)

•  Tax Clearance (land/bldg)

•  Location / Sketch Plan


Additional Requirements if secured with CHM:

•  Official Receipt (OR) / Certificate of Registration (CR)

•  Special Power of Attorney (if applicable)

•  Stencil of the Vehicle

•  Pictures of Vehicle (offered collateral)

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List of Valid IDs

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Contact Us:

Head Office Address:

J. M. Kalaw Street, Barangay 5, Lipa City, Batangas 4217


Email:

kapartner@mcrbi.com.ph

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