PRODUCT REVIEW OF BANK OF COMMERCE BUSINESS LOAN
Public Notice – Disclaimer: We currently do not partner with Bank of Commerce and details about Bank of Commerce herein are solely for information purposes only. For other loan provider alternatives, check out below. For partnership concerns, click here.
If you are looking specifically for Bank of Commerce Business Loan, please visit their website at www.bankcom.com.ph or contact them at (02) 708 7087 . Thank you.
The Bank of Commerce business loan has several types: business loans and lines of credit, SBA (Small Business Administration) loans, agricultural loans and business real estate loans. You can opt for any one of these options and see where you are categorized depending on your business need. Although you have several business loan choices with the Bank of Commerce, Loansolutions will give you more.
For more information contact the Bank of Commerce Branch nearest you or call (02) 708 7087. You can also visit their website at www.bankcom.com.ph.
HOW DOES LOANSOLUTIONS DIFFER FROM OTHER LENDERS?
Loansolutions is not a lender or a bank. What we do is we team up with banks and lending companies to offer loan applicants a wide range of loan offers and choices, thus making us the go-to company for loan applicants who want to have more than one loan option without having to ask lenders individually.
LOAN RATES IN THE PHILIPPINES
According to the Bangko Sentral ng Pilipinas, banks have set their loan rates between 4.7% and 7.1% as of February 2015, but said that this spike in interest rates are seasonal, and can still lower depending on several factors. Through Loansolutions PH, because we have a multitude of partners, you can choose your preferred interest rate of your matched lenders. This will give you a leverage in choosing the loan offer with the lowest rate as well the greatest benefit on your part.
WHAT ARE THE THINGS YOU NEED TO SECURE A BUSINESS LOAN?
Any bank or financial institution will not give you a loan without any guarantee that they will be able to get their money back. A collateral is one thing that most banks require from loan applicants. Should a borrower fail to repay the money borrowed, the lending institution will have something liquid to somehow get the money back in the form of a collateral. But there are also some that do not require a collateral for you to borrow money. A business plan may be required of you so that the lender can see if your business is feasible and will be profitable. If they see that your business plan is executable (if it is a new venture), they will be more willing to lend you money. Another one is your business’ financial details. If you have an existing business and need a loan to fund any transaction, they will have to see your venture’s financial standing to see if it is in good shape.
Should you decide that you need to apply for a business loan, you only have to visit our website, Loansolutions.ph to know more about our partner banks and lenders’ loan offers that will most suit your needs. Save precious time and effort in looking for several business loans with Loansolutions. You do not have to go out of the house to look for, apply and get approved of a business with Loansolutions.