Loanable Amount
P100,000 - P1,000,000
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Description
RFC is the longest-running private finance lending company. their business loan is applicable to SME owners and big corporations. Interest rate is 3.5% to 4% per month and payment terms is from 2 months to 1 year.
Loanable Amount:
P100,000 - P1,000,000;
Minimum – P100,000
Maximum – P150,000 (without collateral) or P1,000,000 (with collateral)
Requirements
• Completed application form
• 2 ID pictures (1x1 or 2x2)
• Passbook (open for six months)
• Any 1 valid primary ID or 2 secondary IDs
• Any latest utility bill
• Additional requirements for partnership/corporation:
• Corporate/partnership registration certificate
• Secretary’s certificate
• List of authorized signatory/ies
• Business/Mayor’s Permit
• Copy of SEC Registration
How to Apply
How to Apply:
1. Go to RFC’s website and hover over the “Products” tab found on the upper left-hand side of their website. If you’re on mobile, click on the drawer button at the upper right-hand side of the screen, it will present you the header options including the “Products” tab. Under the products tab, click on “Business Loan”.
2. There are two types of business loans you can apply for, the SME Working Capital Loan and the Store Inventory Loan. Choose which one suits your needs and click “Get It Now.”
3. The next page is where you fill up all your basic personal information. Click “Next” once done.
4. The last page is where you will need to fill in information about your source of income or business. You will also be required to upload your documents on this page. Click “Submit” once you’re done.
5. You will receive a call within 24 to 48 hours from the time of application.
Eligibilities
• Borrower must be 21 to 64 years old
• Must be a permanent Filipino resident
• P7,000 minimum salary equipment
Processing Time
Disbursement turnaround time is from 24 to 48 hours from approval