20/01/2022
09h54
Documents necessary for the application of Security Bank Business Mortgage Loan
- Sole Proprietorship
- Completely filled out and signed loan application form
- Clear copy of marriage contract (if married)
- Clear copy of one valid ID (photo-bearing government issued) of borrower/ spouse/co-borrower/ signatories of the loan
- Latest Income Tax Return and Comparative Audited Financial Statements (with Notes to AFS) or two years Audited Financial Statements if latest is not comparative
- If operating for ONE year or less: Financial Projections and Prospects
- Certificate of Business Name Registration with DTI (for sole proprietorship) or Articles of Partnership (for partnership business)
- Authorization letter (for bank, business and trade checkings)
- Valid Business/Mayor’s permit
- IF STARTUP: Financial Projections and Prospects (if applying as a startup or if business has been in operation for less than 3 years)
- Partnership/Corporation
- Completely filled out and signed loan application form
- Company profile: background, owners, key officers
- Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
- SEC papers:
- Corporation – Certificate of Incorporation, Articles of Incorporation, By-laws and General Information Sheet, Board Resolution
- Partnership – SEC Certificate, Articles of Partnership, Partnership Resolution
- Latest Bank Statements (latest 6 months with debits and credits)
- Latest Income Tax Return and Comparative Audited Financial Statements (with Notes to AFS) or two years Audited Financial Statements if latest is not comparative
- Authorization letter (for bank, business and trade checkings)
- Suretyship of majority owner/s
- Valid Business/Mayor’s permit
- IF STARTUP: Financial Projections and Prospects (if applying as a startup or if business has been in operation for less than 3 years)
- Additional Documents for Start-up Businesses with Employed Owner/s
- Completely filled out and signed loan application form
- Clear copy of marriage contract (if married)
- Clear copy of one valid ID (photo-bearing government issued) of borrower/spouse/co-borrower/signatories of the loan
- Certificate of Employment and Compensation (COEC) / Employment Contract OR Latest 3 months payslips OR Latest ITR (BIR form 2316)
- Certificate of Business Name Registration with DTI (for sole proprietorship) or Articles of Partnership (for partnership business)
- Authorization letter (for bank, business and trade checkings)
- Employment Verification (EV) by SBC CI Unit
- If OFW, with Special Power of Attorney (SPA)
Interest Rates and others fees:
| Fixing Period | Interest Rate per annum %For loan amount of P10M below | Interest Rate per annum %For loan amount of P10M and above |
| 1 Year | 10.00% | 9.50% |
| 2 Years | 10.00% | 9.50% |
| 3 Years | 11.25% | 10.75% |
| 4 Years | No price fixing rate | No price fixing rate |
| 5 Years | No price fixing rate | No price fixing rate |
| 6-10 Years | No price fixing rate | No price fixing rate |
| Appraisal fee | Paid upfront– PHP3,500 (Metro Manila); PHP4,500 (Outside MM); PHP500 for additional titles within same area |
| Real estate mortgage fees | Paid upon approval–~2.5% to 3.0% of loan amount (inclusive of: DST, registration fee, notarial fee, processing fee) |
| Late Payment Fee | 24% per day of unpaid amortization + past due interest for technical past dues Effective October 25, 2021: 2% of unpaid amortization |
Procedure for the loan application:
Access the official website of Security Bank
Click on the top tab ” Business”.
Choose the type of loan
Click “apply now”
Follow the next steps
Submit Application