If you’re planning to start your own business but don’t have enough capital yet, you can consider applying for bank business loans. There are a number of requirements for bank loans but if you can already prepare them ahead of time, it will be less hassle for you.
To facilitate your loan faster, we’ve summarized a list of essential documents you need:
Basic Documents (Personal & Business Identification)
- One (1) Valid Government Issued ID
- Marriage Contract (if applicable)
- Accomplished Loan Application Form
- Business Registration Certificate / Business Permit / Latest General Information Sheet
- SEC-validated Articles of Incorporation / By-Laws (for partnership or corporation)
- List of Elected Officers (for corporation)
Financial Documents
If Employed
- Latest Income Tax Return (ITR) or BIR Form 2316 for the last 3 years
- Updated Certificate of Employment (COE) indicating Salary, Position and Tenure
If self-employed
- Photocopy of BIR-stamped financial statements for the last 3 years (audited and interim)
- Bank statements for the past 3-6 months
Collateral Documents
- Copy of Transfer Certificate of Title and/or Condominium Certificate of Title (Owner’s Duplicate Copy)
Updated Tax Declaration - Appraisal Fee
Vicinity Map/ Location plan/ Lot plan and Bill of Materials (if for construction)
Other Applicable Supporting Documents
- List of Suppliers/Customers with contact person, telephone no., and address
- List of past and ongoing projects
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