I. Who are qualified to avail?
Owners of small & medium business establishments (e.g. palay trader/rice miller, grocery/sari-sari store, bakeshop, poultry and agri-supply, agri-machinery and equipment supply, hardware and electrical supply, aluminum and glass supply, bookstore/school supply, printing press, drug store, boutique, tailoring/dress shop, furniture shops, steel fabrication shops, auto/motorcycle spare parts supply/repair shop, bicycle store, beauty parlor, barber shop, meat shop, restaurant, computer equipment and supply store, internet café, used car dealer, gas station, antique shops, cottage industries – makers of toys, children’s dresses/decors, processed foods, bamboo/rattan products, etc., medical/dental/optical clinics, kindergarten and other schools, pawnshops, water refilling stations, travel agencies, flower shops and the like) registered in areas where Producers Bank is located are qualified to avail, subject to the terms and conditions of the Bank. The business must be stable and profitable for the last two (2) years. The applicant must have acceptable/adequate collateral.
II. Amount of Loan
Minimum amount of P500,000 to a maximum of P1,000,000.00 depending on the capitalization and cash flow of the project. Larger amount of loan may be accommodated depending on the requirements of the business.
III. Interest Rate & Service Charge
At very competitive interest rate.
IV. Purpose of Loan
For additional working capital and purchase of equipment needed by the business.
V. Repayment
Payable in six (6) to twelve (12) equal monthly installments to be covered by post dated checks. Longer repayment period is allowed subject to requirements of the business.
VI. Collateral
The loan shall be adequately secured on a 2:1 ratio by Real Estate Mortgage (REM).
VII. Requirements
a. Business permit & DTI Registration
b. TCT/fully paid EP/OCT
c. Audited FS and ITR (comparative for at least two years)
d. Tax Declaration with tax receipt for current year and tax clearance
e. Location plan with vicinity map
f. Barangay and Court Clearances
g. Bank Statements from other banks
h. CTC of borrower
i. CASA with Producers Bank
j. Mortgage Redemption Insurance (MRI) assigned in favor of Producers Bank
For more information regarding this type of loan, you may visit the nearest Producers Bank branch or browse to the Contact Page and fill out the contact form to send us a message.