Eligibility Requirements:

    The businesses to which the loan will be applied for must meet the following criteria:

• Duly registered to operate as a business in the Philippines;
• Must have been operating for at least 3 years, and profitable for the latest 1 year.
• Must have no outstanding debt that exceeds 40% the company’s monthly income

• Each SME loan must be tied to the business’ primary owner; for partnerships/corporations, this means:
  • Owner with simple majority (individual with the single largest stake in the company) must provide details and sign off on the loan application form, and ultimately be the signatory in the surety agreement prior to loan booking
  • If simple majority is shared across multiple owners, only (1) of them is required to sign off on the loan
• Identified business owners will then be required to have:
  • An existing account with Security Bank (at least 6 months old with PHP 50K ADB) OR Existing credit card (any bank; credit card number/s must be provided in application)
  • Permanent residency in the Philippines;
  • At least 21 years of age at the time of application and not more than 65 years of age upon maturity of the loan

    Documentary Requirements:

    SOLE PROPRIETORSHIP

• Signed and Completed Application Form
• Copy of 2 valid IDs with photo from primary applicant / owner / authorized signatory
• Latest ITR with BIR stamp
• Latest (1) year Audited Financial Statements
• Valid DTI Registration docs
• Latest 3 months bank statement
• List of customers/suppliers and details about their dealings
• Valid Business or Mayor’s Permit

    PARTNERSHIP/CORPORATION

• Signed and Completed Application Form
• Copy of 2 valid IDs with photo from primary applicant / owner / authorized signatory
• Latest ITR with BIR stamp
• Latest (1) year Audited Financial Statements
• Valid DTI/SEC Registration documents and GIS
• Latest 3 months bank statement
• List of customers/suppliers and details about their dealings (The following documents will be required by the bank prior to loan booking:
• Partnership / Board Resolution (authorizing signatory for accounts and loan, credit investigation on both the business and owners)
• Continuing Suretyship Agreement (for corporations) Client will be given templates at point of application to prepare for the loan decision )
• Valid Business or Mayor’s Permit