High loanable amount
Borrow up to PHP50M as long as you have the collateral to secure it.
Fast approval
Quick approval within 15 to 20 working days.
Flexible loan terms
Loan term options of 3, 6, 9 or 12 months to match your trade cycle and funding needs.
What is Business Working Capital (BWC)?
Our business loan is the perfect financial solution tailored to meet the short-term financing needs of businesses. This will empower MSMEs by providing flexible payment options and promoting financial discipline.
Customers will have the ability to access cash on a recurring basis, either partially or in its entirety, up to the specified credit limit. With repayment term options of 3, 6, 9 or 12 months, it empowers businesses to choose the payment structure that aligns with their trade cycle and funding needs. This flexibility ensures that your cash flows remain smooth and in sync with your business operations.
Rates and Fees for BWC
| Â | Type | Rates and Fees |
| 1 | Interest Rate per annum % | • Loans below Php 10M: 9.25% • Loans Php 10M and above: 8.75% |
| 2 | Documentary Stamp Tax on PN | Loan amount / 200 = rounded up to nearest peso X 1.5 x actual number of days/365 |
| 3 | Notarial Fee on PN | Php 400.00 |
| 4 | Processing Fee | • Php 10,000.00 for new loan or line renewal application (upon credit line expiry) • Php 2,000.00 per loan drawdown for re-availment of paid-up portion and renewal *Please note that BWC rates change on a monthly basis |
| 5 | Appraisal fee | Paid upfront– PHP3,500 (Metro Manila); PHP4,500 (Outside MM); PHP500 for additional titles within same area |
| 6 | Real estate mortgage fees | Paid upon approval–~2.5% to 3.0% of loan amount (inclusive of: DST, registration fee, notarial fee, processing fee) |
| 7 | Late Payment Fee | 3% of unpaid amortization for the month |
*Please note that BWC rates are indicative and change on a monthly basis.
Acceptable collaterals
| Type | LTV |
| Residential Properties | Up to 80% of Appraised Value for lot with improvement and vacant lot* |
| Commercial Properties | Up to 80% of Appraised Value* |
| Mixed-use Properties | Up to 80% of Appraised Value* |
| Hold-out Deposit | 100% of Peso deposit accounts maintained with SBC. |
*LTV can be as high as 80% depending on the bank’s valuation and capacity to pay evaluation.
Re-availment terms/table
| Term | Repayment Options |
| 3 Months |
Option 1 – Monthly Interest, Equal Monthly Principal Payment Option 2 – Monthly Interest, Principal at Maturity |
| 6 Months |
Option 1 – Monthly Interest, Equal Monthly Principal Payment Option 2 – Monthly Interest, Principal at Maturity |
| 9 Months | Option 1 – Monthly Interest, Equal Monthly Principal Payment |
| 360 Days |
Option 1 – Monthly Interest, Equal Monthly Principal Payment Option 2 – Monthly Interest, Principal at Maturity |
Documentary requirements
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)
- Certificate of Registration with BIR
- Certificate of Registration with Farmers and Fisherfolk Enterprise Development Information System (FEEDIS), as applicable
- Barangay Permit
- 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)
- Certificate of Registration with BIR
- Certificate of Registration with Farmers and Fisherfolk Enterprise Development Information System (FEEDIS), as applicable
- Barangay Permit
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)
Eligibility requirements
For Business
- Registered business with the Securities and Exchange Commission or Department of Trade and Industry
- Business should be registered as either Sole Proprietorship, Partnership, or Corporation
- At least 3 years in operation.
- Must exhibit profitable operations
- Start-up businesses (operating less than 3 years) are acceptable on a case-to-case basis
Additional documents
Collateral Docs for Real Estate
- Copy of collateral title (TCT/CTC)
- Lot plan and vicinity/location map
- Tax declaration on land and/or improvement
- Copy of Condominium Certificate of Title (CCT)
- Appraisal Fee; OR Number
Additional Documents for Specific Loan Purpose
LOAN TAKEOUT
- Proof of amortization payments for the last 3 months
- Statement of account from bank
CONSTRUCTION OR RENOVATION
- Bill of materials and estimates of construction and labor cost
- Floor and building plan and specifications
- Specification of proposed finishes
- Building Permit
Frequently Asked Questions
How much can I borrow?
You can borrow as high as 80% of the value of your real estate property offered as collateral. This is subject to bank’s valuation and capacity to pay evaluation.
How do I know if I am eligible to apply for this loan facility?
If you are a duly registered business i.e. single proprietorship, partnership, or a corporation, you are eligible to apply.
How long will it take for my loan facility to be approved?
Your loan facility can be approved in as fast as 15-20 working days.
How will my loan facility be disbursed?
Disbursement will be made to your nominated Security Bank deposit account. Click here to read more about BusinessPlus and our other deposit products.
What are the modes of payment for my loan facility?
Payments made for the loan facility will be through Automatic Debit Arrangement (ADA) on your nominated Security Bank deposit account.
Who do I contact if I have questions about Business Working Capital?
Inquire now through this form: Meetbit Appointment | Security Bank Philippines