RCBC BUSINESS LOAN TYPES: WORTHY OPTIONS TO CONSIDER FOR BUSINESS OWNERS
Are you looking for financing options to open your own company? Are you searching for ways to open more branches, launch more projects, renovate your office or buy new equipment? If you are, today is the perfect time to get a RCBC Business Loan. The best thing about RCBC is its wide range of corporate financing options. Entrepreneurs may choose one of the following loan types to begin with:
- Long and Medium Term Loans– A credit type perfect for entrepreneurs planning to expand their business or increase their company’s income generating capabilities
- Pre-Delivery and Post-Delivery Financing– The best type of loan for business owners still in the initial production stage when there’s no collections yet from customers who’ve purchased their goods.
- Export Advance and Foreign Bills Purchase Facility– A loan that gives entrepreneurs access to funds even before the foreign buyer gives their actual collections. This may also be used to buy inputs for production.
- Trust Receipt Financing– This loan type is best for business owners who lack funds for the processing of raw materials and handling collection activities.
- Import and Domestic Letters of Credit– A credit type perfect for entrepreneurs who’ve purchased inputs from foreign providers and want to ensure they’d have paid the seller even before the goods are sold.
- Revolving Credit Line– A credit line that’s renewable every 360 days and is the best funding for the company’s working capital needs.
- Standby Letters of Credit– This is best for resellers who want to ensure payment for goods before these are being sold.
- SME Loans for Women– This is the country’s first loan solution designed to address the needs of female entrepreneurs.
WHAT ARE THE REQUIREMENTS TO SUBMIT?
Business loans are available to those who are between the ages 21 to 70 years old and Filipino citizens. Applicants must also have a stable income source be it from a regular paycheck or a business. For processing and assessment purposes, the following documents needed to be submitted:
- Proof of Identity – i.e., Birth Certificate, government issued IDs
- Proof of Income – i.e., Cash flow report, latest payslips
- Proof of Business – i.e., SEC or DTI Registration, Mayor’s Permit, list of suppliers, list of customers
- Collateral documents
- Proof of Residence – i.e., Residence Certificate
HOW TO APPLY?
RCBC business loan is easy to get. Just follow our 3-Step Online Application Process here at Loansolutions PH and let our financial agents do the number crunching and processing. RCBC is one of our partner providers and we know how the bank’s filing process works. We can assist your application and advise you one important loan aspects such as the terms, amount to borrow and interest rate.