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All you need to know about getting a business loan in the Philippines

If you are an entrepreneur in the Philippines, and you wish to start up your own company, the best way to do so is to get a business loan. As the name suggests, a business loan is a trust intended for starting new firms, which you then pay back over a certain period, according to the deal with the bank that had issued the money.

If you are OFW but you want to do your own enterprise, then OWWA credit can help. It is important to understand that OWWA wants OFW, which can repay the credit.

Of course, there will be a certain interest rate, according to the agreement. With that in mind, let’s talk about rates, terms, documents, and other details regarding getting a small business loan in the Philippines.

What are SME express loans?

Whether you are looking for a business loan to launch a small firm, or to support your existing startup, you should consider getting an SME Express credit because they are an icon in the country. This is the type of credit that fits companies best and even allows them to finance their needs and requirements.

How you use it is up to you. As well as how in your firm. For example, you can buy equipment, pay day-to-day operations, or even use it actually to start up by renting office space. First of all, read all the banks’ loan offers – Business loan BPI, Security bank Business loan and others, and with loans from non-profit companies – SSS Business loan, San Jose Koop, SBCorp and others.


Minimum amount: 500 000 PHP
Up to 10 years
Interest rate
8% APR


Minimum amount: 1 000 000 PHP
Up to 5 years
Interest rate
8% APR


Minimum amount: 1 000 000 PHP
Up to 7 years
Interest rate
8.8% APR


Minimum amount: 1 000 000 PHP
Up to 5 years
Interest rate
5% APR


Minimum amount: 2 000 000 PHP
Up to 1 year
Interest rate
8% APR


Minimum amount: 500 000 PHP
Up to 2 years
Interest rate
8% APR


Why easily get SME express loans?

Getting an SME Express credit is actually quite easy for men or women. There are minimal documentary requirements, and they often get approved very quickly. The bank is likely to approve your request even without collateral up to a certain amount.

There are also minimal application requirements or no requirements, and depending on the bank — likely even a zero application fee.

Interest rates

There are many different rates for different terms, depending on your deal. The lowest rates are reserved for short terms, with the interest rates being only around 1.50% per month.

As the length of the term increases, so do the interest rates. Depending on the bank, the process of getting your business loan can also come with set fees and charges, such as a processing fee, a notarial fee which can differ between Sole Proprietorships or for partnerships and corporations. Finally, you should also know that there are penalty fees for not fulfilling your end of the deal in time.

Interest rates are also low for SSS salary credits. SSS salary credits are funds that are designed to meet your immediate financial needs.

Business loan terms

Business loan terms can be rather different, depending on the kind of credit that you need. Traditional banks may offer terms from 3-10 years, while SBA credits can go up to 25 years. Medium-term credits can go from 1-5 years, and lines of credit can be anywhere from 6 months to 5 years. If you need something short-term, you may be looking at a 3-18 month period.

Documentary requirements

We mentioned that there are low requirements for getting money for your startup. Naturally, that still means that you will need to present some documents, which may vary depending on whether you wish to get a business loan for a sole proprietorship, or for a corporation or a partnership.

For sole proprietorships, you will need to prepare these for proper security:

  • An application form
  • Two copies of the valid ID of the owner or primary applicant (with photo)
  • A valid company permit or Mayor’s permit
  • Latest ITR (including BIR stamp)
  • The latest Audited Financial Statements
  • 3 months bank statement
  • DTI registration documents
  • And a list of suppliers and customers, including the details regarding their dealings

As far as requirements for a business loan tend to go, this is a rather short list, meaning that you should not have much problem getting the documents. On the other hand, if you require funds for a corporation or a partnership, there are almost no requirements that go beyond the previous list.

The list is identical, except for two additional documents that you will need:

  • Partnership or board resolution
  • Continuing Suretyship Agreement

What is an Unsecured Business Loan?

During your research regarding the business loan, you may have seen the phrase ‘unsecured business loan.’ This is a funding solution that you can receive without collateral. To understand the difference between secured loans and unsecured loans, you can simply use the calculator on the site.

However, you should know that the bank will need some confirmation that you are serious regarding your business loan, for its own security. This is likely to include an excellent credit rating, with the best possible financial history, and alike. You may also not get the lowest rates, as the bank takes a risk by lending you money without collateral.

The bank will include all of this into the formula, and eventually into the calculator when deciding on your interest rates, and other details.

Unsecured Business Loan Options in the Philippines

When it comes to unsecured business loan options, there are several to consider, for example:

1) Term business loan — Meaning a business loan that is given to you as a single large sum that you need to repay over a certain period, usually 1-5 years.

2) Short-term business loan — A type of credit that is repaid over a significantly shorter period, around 3-18 months.

3) Merchant cash advances — This is more of an advance than an actual business loan, but it works in a similar way. You get a certain sum and you pay it off with a percentage of your firm’s revenue.

4) A line of credit — A line of credit is a more flexible funding option, which can be used for long or short-term financing solutions.


Getting a business loan in the Philippines is easier than ever, and doing so is bound to help you and your startup get the necessary push that can really make your firm successful. There are plenty of options and solutions to consider even for women, and the formula is simple all accompanied by minimal requirements and excellent deals for you to explore and use to advance your company.

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