Enterprise Loan is a credit line especially designed to cater the needs of small and medium enterprise. The credit line has been segregated in two separate types of loans:
1. Capital Expenditures – construction or purchase of fixed assets, transportation equipment, extra machinery, and other equipment necessary for the operation of a business.
2. Working Capital- Cost of Sale (inventories, overhead, etc.)
The purposes of this loan are:
- Provision of additional working Capital (Working Capital Loan)
- To acquire fixed assets, such as land, buildings, equipment, machinery (Fixed Asset Capital Loan)
- For related services, such as equipment installation.
- Entrepreneurs with existing small or medium enterprises
- “Graduates” of KB microfinance loan products whose capital requirements exceed the maximum amount allowed for microfinance loans.
Avail for as LOW as 0.63% per month, diminishing!
CLIENT ELIGIBILITY CRITERIA
- Any Filipino citizen residing in a place and whose principal place of business is operating preferably within the territorial jurisdiction of the bank;
- He must be at least twenty-one (21) years of age but not more than seventy (70) years old;
- For sixty-one (61) years old and above, there shall be one (1) family Co-borrower (except spouse) or co-signor;
- He must be a depositor of the bank;
- Corporations, Partnerships, Single Proprietorships, Cooperatives and other profit-oriented organizations organized and existing under the Philippine Laws;
- Client must have an existing business operating for at least 2 years. For BMBE, business is operating at least 2 years; &
- Total Resources of the enterprise must have at least P3 million.
- Accomplished Credit Line Application Form;
- Board resolution for the credit line application with corresponding authorized signatories if for cooperative, organization or corporation;
- Photocopy of at least 1 valid ID of authorized signatories (with 3 specimen signatures);
- Business Registration Papers (Certificate of Business Registration with DTI/SEC, Articles of Incorporation, Articles of Partnership and By-Laws);
- A Certificate of Authority for businesses registered as BMBE (optional);
- Trade References of at least 3 major suppliers and customers with contact numbers;
- Bank Statements – 3 consecutive months within the last 6 months from loan proposal or current date;
- 2x2 Recent Colored Picture (6 pcs); &
- Other supporting documents related with the business (Photograph, Receipts, and others).
Additional requirements if there is collateral:
- Title, Sketch plan with vicinity map, Latest Tax declaration and current Tax receipt for REM;
- OR, CR, Certificate of Ownership, or Franchise in case of Chattel Mortgage;
- Current Fire Insurance Policy of the Building/ Equipment if Collateral includes Building;
- Photograph of property; &
- If applicable, the requirements stated above must be original/certified true copy.
P 3 Million and Below
In-house financial statement for at least 2 years- Balance Sheet and Income Statement (Must be updated every year).
Above P 3 Million
Latest AFS/ ITR (BIR stamped) for the last 2 years – with both Income Statement & Balance Sheet except for BMBE registered client.