Small and Medium Enterprise Loan
Small and Medium Enterprises (SME) Loan (Jan. 2011)
SME loan is a financing package geared towards business enterprises engaged in industry, agri-business and/or services requiring cash funding to be used for various business related purposes.
Why will an SME need this Loan?
- Additional working capital.
- Business Expansion.
- Purchase of equipment, machinery or property business use
- Putting-up Franchise business.
- Start up a new business
Purchase a property for business use.
How much can an SME borrow?
50% of the appraised value but not to be exceed Php5 Million and not less than Php 200,000.00
What properties can be assigned as collateral?
- Vacant lot.
- House and Lot.
- Commercial Building with Lot.
How much is the interest rate?
|Term (Months)||Monthly Add-on Rate||Cumulative Add-on Rate||Effective Rate|
Why AMA Bank?
- AMA Bank rates are more competitive than private lenders (3-5% add-on rates) or Credit Cars companies (3.0-5.0% monthly add-on rate).
- Other banks only allows a minimum loan of Php 1M which is too much for most SMEs.
What are the documentary requirements?
- Photocopy of 2 valid IDs with photo and signature (i.e., passport, driver’s license, company ID, etc).
- Bank Statements for the last 6 months.
- Copy of TCT/CCT.
- Updated Tax Declaration & Real Estate Tax Receipts.
FOR THOSE EMPLOYED
- Photocopy of latest Income Tax Return (ITR) or W-2 Form/BIR Form 2316.
- Latest one month payslip or certificate of employment and compensation.
FOR BUSINESS OWNERS/SELF-EMPLOYED
- SME Loan Application Form.
- Business Registrations/Permits SEC Registration/DTI registration.
- Articles of Incorporation/Partnership and By-laws
Financial Statements (last 3 years: In-house and Audited Statements).
- Company Profile or History of Business
Income Tax Return (for the last 3 years)
Bank Statement for the last 6 months.
- Contract of Employment/ Certificate of Employment.
- History of Employment/ Latest Crew Contract (if Applicants is seaman).
OTHER SOURCE OF INCOME:
If applicable, documents showing proof of rental income, interest income, regular receipt of remittances.
Properties within Metro Manila – P 4,000.00
Properties outside Metro Manila – P 6,000.00
|less (Service Charge):5.95%||5,950.00||5,950.00||5,950.00||5,950.00|