Commercial Business

Commercial Business is a loan facility extended to qualified companies for additional working capital or to finance acquisition or construction of fixed assets for business use.

BORROWER’S ELIGIBILITY:

  • With at least three (3) years of profitable operations.
  • No derogatory records per CMAP/BAP/Trade Checking’s
  • Belongs to an industry with bright business prospects.

FEATURES:

Loan Amount 60% of Appraised Value of property being acquired/mortgaged or up to Single Borrower’s Limit (SBL), whichever is lower
Interest Rate Floor Lending Rate at the time of Availment
Type PNL Term Loan
Repayment Revolving for one (1) year Minimum of two (2) years
Maximum 1 year More than 1 year ; Maximum 10 years
Mode of Payment Post Dated Checks or Automatic Debit Arrangement
Security Clean/Chattel Mortgage/Real Estate Mortgage on Property registered in the name of the borrower/s
OTHER CHARGES Appraisal fee – Php 5k / TCT/Location – Within 50 kms radius
Php 6k / TCT/Location – More than 50 kms radiusNote: If the client has more than one title located in the same subdivision or barangay an additional of P 1,500/title/client shall be charged.

Customer’s Benefits:

  • Convenience – loans are processed at the earliest possible time
  • Affordability – interest rates are low and payment terms are comfortable and easy on the budget
  • Fast Service – efficient staff will promptly answer questions and offer assistance with a personalized touch

REQUIREMENTS:

  1. Sole Proprietorship
    • Income Tax Return
    • Audited Financial Statements
    • In-House Financial Statements (if necessary)
    • Bank statement for the past 6 months
    • List of customers and suppliers with contact persons and telephone numbers
    • Certificate of Registration of Business/Trade Name with DTI
    • Affidavit of Application of Business Name
    • Two (2) Valid IDs of the Proprietor
    • Marriage Contract of the proprietor, if married
    • Proof of Billing
  2. Partnership
    • Income tax return
    • Audited Financial Statements for at least 3 years
    • In-House Financial Statements (if necessary)
    • Bank Statement for the past 6 months
    • List of customers and suppliers with contact persons and telephone numbers
    • Articles of Partnership with SEC Certificate of Registration
    • By-Laws with SEC Certificate of Filing
    • Affidavit of Application of Business Name
    • Notarized Partnership Resolution
    • Two (2) Valid IDs of the Signatory/ies of the account
  3. Corporation
    • Income tax return
    • Audited financial statements
    • In-house financial statements (if necessary)
    • Bank statements for the past 6 months
    • List customers and suppliers with contact persons and telephone numbers
    • Articles of Incorporation with SEC Certificate of Registration
    • By-Laws with SEC Certificate of Filing
    • Notarized Board Resolution or Notarized Secretary’s Certificate indicating the following:
      1. To avail loan at USB
      2. The type of loan to be availed
      3. The amount of loan
      4. The property to be used as collateral
      5. The name of the authorized signatories to the account
      6. The signature combination/s
    • Two (2) Valid IDs of the signatory/ies of the account

ADDITIONAL REQUIREMENTS:

  • Information of collateral
    – Photocopy of the title
    – Certified lot plan and location / vicinity map

    1. If loan is for construction / renovation
      – Bill of materials
      – Building plans and specifications
    2. If loan is for refinancing
      – Statements of account from the creditor / mortgagor
  • Insurance requirements
    1. Fire insurance coverage on the improvement equivalent to its appraised value, or
    2. Fire insurance coverage on the equipment or inventory used as collateral/security.

    Premium payments shall be paid annually by the borrower.