SME Loans

 

PLANTERSBANK SME LOANS

At Plantersbank, we truly understand and support the big dreams of Small and Medium Enterprises (SMEs). We are dedicated to providing loan packages specially designed to assist you in realizing your vision in growing your business, better manage your finances and earn more profits.

Backed up by the various special loan programs funded by government financial institutions and multilateral agencies, Plantersbank offers you credit facilities to suit your specific business requirements such as:

  • Credit Line for working capital
    In order to boost up sales, most businesses need additional working capital to further support gapping of receivables, build up inventory, increase operating expenses and the like. With Planterbank’s Regular Credit Line, you can easily recoup the capital requirements of your business because it is a one-year line that allows you to draw funds anytime you need as long as it does not exceed the approved credit line amount. Once your line expires, you may opt to apply for line renewal subject to the Bank’s evaluation.

  • Term Loan for business expansion, equipment acquisition or factory construction

    Whether you plan to purchase new machinery or equipment, expand your existing premises, or build a factory on your pre-owned lot, Plantersbank can assist you with your short- and medium-term financing needs. With Plantersbank’s Short Term Loan and Medium Term Loan, you can make better use of your real estate property and asset for purchase to back up your loan with a fixed term up to 10 years.

  • Liquefy customers’ post-dated checks through check discounting
    Most businesses depend on receivables to help recoup capital requirements. No more long waiting for your clients’ posted dated checks (PDCs) to mature, we can assist in bridging your financial gap with Plantersbank’s Check Discounting Line (CDL). You can make better use of your collections by discounting the post dated checks issued by your clients and turn into cash to further support the financing of your business. The PDB Check Discounting Line is a one-year facility where you can draw as high as 80% of your duly endorsed customer’s checks.aw as high as
    80% of your duly endorsed customer’s checks.

  • Fund day-to-day needs through bills purchase
    Businesses have daily operating needs and most of the time, it is very hard to delay payments for expenditures that must be maintained to sustain operations. With the Planterbank’s Domestic Bills Purchase Line, you can replenish your day-to-day working capital requirements by using local checks, drafts and/or negotiable instruments issued by your customers during the normal recourse of business without waiting for clearing time. Cash becomes immediately available for your use!

  • Immediate fund requirements against deposits
    Ease your business cashflow requirements without mortgaging your real estate property and other fixed assets such as machinery and equipment. Get instant cash while keeping your existing PDB time or term deposit placements through Plantersbank Back-to-Back Loan. With your deposit placements as collateral, you can borrow as high as 90% of your peso or dollar account while enjoying the interest that you truly deserve.

  • Guarantee the performance of specific project via Letter of Credit

    As your business progresses, your operational projects and activities will likewise increase. Be it a construction of building, distributorship agreement or even a project arranged with the Philippine government, we can support these business undertakings by providing guarantee for the performance and completion of your business endeavors through Plantersbank’s Standby Domestic Letter of Credit (SDLC). The SDLC is a one-year credit line which will allow you to take advantage of opportunities and get that contract!

  • Higher capital requirement with more stable interest rate
    Bigger businesses need higher capital requirements especially when there are foreseen expansion in operations, increase in inventory, embarking on additional business endeavors, construction of new buildings and the like. As your partner in SME financing, Plantersbank teams up with government financial institutions and multilateral agencies to provide better financing schemes for your business needs. With Plantersbank Program Loans you can avail of longer terms up 15 to 20 years, stable interest, rate fixing options and most of all, higher loan amount! The Plantersbank Program Loans are co-administered by the following agencies and their respective program loan facilities:

    • Development Bank of the Philippines (DBP)
      • Industrial Guarantee and Loan Fund (IGLF)
      • Industrial and Support Services Expansion Program (ISSEP)

    • Landbank of the Philippines
      • Countryside Loan Fund (CLF)
      • Agricultural Loan Fund (ALF)

    • Social Security System (SSS)
      • Special Financing Program (SFP)
      • Financing Program for Educational Institutions
      • Financing Program for Tourism Projects
      • Hospital Financing Program
      • Special Financing Program for Vocational and Technical Schools

    • Bangko Sentral ng Pilipinas (BSP)
      • Rediscounting Credit Facility

    • Small Business Guarantee and Finance Corporation
      • Funding for Investments in Regional Markets (SME-FIRM)
      • Funding Access for Short-Term Loans (SME-FAST)
      • Guarantee for Enterprises in Manufacturing and Services (SME-GEMS)
      • Guarantee Resources for Agri-business Investment (SME-GRAIN)

E-mail us at info@plantersbank.com.ph.
Or better yet, call us now and let our seasoned
loan specialists assist you in making the right choices
in financing your business.

FREQUENTLY ASKED QUESTIONS

Q: What are the basic criteria to qualify for a loan?

A: Any individual or company provided:
  • has been profitably in existence for at least three (3) years;
  • managed by experienced competent team; and
  • engaged in moral, legal and legitimate business

Q: How would I know if my business is considered as SME?

A: Based on the current Small and Medium Enterprise Development (SMED) Council definition, SMEs are business activities or enterprises engaged in industry, agri-business and/or services, whether single proprietor, cooperative, partnership or corporation whose total assets, inclusive of those arising from loan but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, must have value falling under the following category:

  • Small - P3,000,000 to P15,000,000
  • Medium - P15,000,001 to P100,000,000

About 90% of the companies on the Philippines are classified as SMEs.

Q: How much can I borrow?

A: As an SME Bank, we concentrate on providing loans from P5 Million up to P30 Million. Plantersbank, however, can entertain applicants with higher funding requirements on case to case basis. For loans amounting to P500,000 to P5,000,000, kindly check our Small Bizloan for details.

Q: What is the interest rate?

A: The interest rate may be fixed for the entire term of the loan or variable which is subject to re-pricing at the beginning of each month.

Q: What assets can I use as collateral?

A: You can make better use of your existing asset by supporting your loan with the following:

  • Real Estate Mortgage (REM)
  • Chattel Mortgage (CHM)
  • Project assets to be purchased or building constructed
  • Plantersbank time deposit accounts or placements
  • Other acceptable collateral subject to bank’s evaluation
    and approval

Q: How will the loan proceeds be released?

A: If you apply for line facilities such as Regular Credit Line, Check Discounting Line and the like, loan proceeds are deposited to your Plantersbank deposit account and is available for drawing anytime. If you avail of the Term Loan, loan proceeds shall be released in lump sum or staggered basis and will likewise be credited to your Plantersbank deposit account.

Q: What are the modes of repayment available to settle my loan?

A: For credit lines, principal is payable upon maturity of the loan and interest payable monthly or quarterly while for term loans, repayment may be made monthly or quarterly for both principal and interest dues.

Q: Will the location of my business or factory be considered in evaluating my loan
    application?

A: Yes. To provide you more convenience in doing business transactions with us, it is important that you are located within Metro Manila, key provincial cities or those areas where Plantersbank has a branch present.

Q: What documentary requirements should I submit in applying for a loan?

A: Please provide Plantersbank with the following set of documents:

  • Completely filled-out and signed SME
    Application Form
  • Audited or In-house Financial Statements for the past 3 years
  • Latest Interim Financial Statement (if over 6 months from previous year’s FS)
  • List of Majority Owners/Principals/Officers
  • SEC/Business Registration
  • Articles of Incorporation
  • Copy of Title (TCT or CCT)
  • Tax Declaration
  • Real Estate Tax Receipt
  • Master Deed of Restriction (if condominium unit)
  • Building Plan (if with building)

For more inquiries, click here.