Regular Business Loan in the Philippines
(at least one year in business)

Qualifications:

  • Loanable Amount: 15,000.00 – 150,000.00
  • Terms: 6-9 months
  • Interest: 2-3%
  • Business existing for at least one (1) year

Documents to prepare:

  • Mayor’s Permit or Barangay Permit to operate business
  • DTI Registration if single proprietorship or SEC Registration
  • Articles of Incorporation and Board Resolution to borrow if corporation, with Secretary Certificate for authorization to borrow and authorized signatories of corporation.
  • 2-3 months latest bank statements (Savings or Current Account)
  • Brgy. Clearance

Modified Business Loan (at least three years in business)

Qualifications:

  • Loanable Amount: 150,000.00 – 3,000,000.00
  • Terms: 3-6 months
  • Interest: 1-3%
  • Business existing for at least three (3) years

Documents to prepare:

  • 4 months latest original Checking Account Bank Statements – 3 months with original negotiated checks
  • Mayor’s Permit or Barangay Business Permit
  • DTI Registration if single proprietorship or SEC Registration
  • 2-3 months latest bank statements (Savings or Current Account)
  • Articles of Incorporation and Board Resolution to borrow if corporation, with Secretary Certificate for authorization to borrow and authorized signatories of corporation.

Getting a Business Loan Online is Now Possible

There are a lot of things that you have to consider before starting a business. However, before you focus on all the details, you have to make sure first that you have enough money to propel your business. Without capital, your business will never take off. If you really want this business to prosper and you think you don’t have enough money to open it up, the best option is to go for a business loan online. 

An Easy Process of Getting Loan from Simplexloan

When you want a short term business loan, all you have to do is to go online and read the requirements. You will need to submit the applications online and once your application has been processed, you can receive your loan via ATM or bank account. You also have nothing to worry about business loan interest rates. There are lending companies such as SimplexLoans that have reasonable interest rates. They will also provide you with a business loan calculator so you will know how much you need to pay in the end after getting a particular loan. 

Repaying the Loan

When it comes to small business financing, the key is to immediately repay the loan the moment the business takes off. This will allow you to fully pay the loan in no time. You also have to make sure that you will get a business loan without collateral so that nothing will be at risk later on. You may also get flexible repayment scheme for companies like SimplexLoans. Therefore, you won’t have any problem repaying the loan. 

Now, all you have to do is to gather the documents needed. Scan these documents and have them verified. You should also read the application forms and fill them out carefully. Be aware of other details and conditions. Once you are done, you can have your loan request right away. 

No Collateral Required

Basic Documentary Requirements

Eligibility Requirements:

  1. Must be at least 21-65 years old;
  2. With a minimum monthly income of P10,000;
  3. Preferably with an owned Collateral (house, car, lot etc.);
  4. With a co-maker (spouse or any relative);
  5. Duly completed and accurately filled out SimplexLoan.com form.

Note: Incomplete form will not be processed.

Documentary Requirements

1. Proof of Identity

Any two (2) of the following Government IDs:

  • SSS or GSIS ID;
  • Voter's ID;
  • Driver's license;
  • PRC license;
  • Passport;
  • Marriage Contract of all parties to the transaction, if applicable.

2. Proof of Residency

Any one (1) of the following Utility Bills (under applicant's name)

  • Electricity bill;
  • Water Bill;
  • Cable Bill;
  • Telephone Bill.

3. Proof of Income

A. For Employed: (Locally Employed)

  • Latest Income Tax Return or BIR Form 2316 or Pay slip for at least three (3) months;
  • Original Certificate of Employment and Income (COEI) within six (6) months from date of issuance.

(Employed Abroad)

  • Latest Crew Contract & Employment History (for seamen);
  • Employment Contract or Certificate of Employment and Income (COEI);
  • Proof of remittance or allotment slips or pay slips for the past three (3) months.

B. For Self-employed/Business Owner

  • Photocopy of Audited Financial Statements (AFS) for the last two (2) years with latest ITR with BIR or Bank Stamp;
  • Sole Proprietorship - Certificate of Business Registration with DTI;
  • Business/Mayor's Permit;
  • Last six (6) months bank statements or photocopy of passbook (with account name and account number);
  • Business Background/Company Profile;
  • Proof of other income (if any).

Why Choose Us

1 LOWEST INTEREST RATE - GUARANTEED

Peer-to-peer lending was conceived as a way to democratize finance, by using technology to bring borrowers and lenders together. Individuals could make their pitches to borrow money or offer credit without the involvement of institutional lenders.

2 EASY REQUIREMENTS

Verification and security are important parts of our process. In order to complete your loan application, we verify your identity and income mostly by submitting your documents online.

3 FAST RELEASE

It generally only takes 24 hours from receiving all your relevant supporting documentation to provide the applicant with a decision.

4 CUSTOMER SUPPORT

Simplex Loan is not your ordinary company, so expect extraordinary customer support around the clock. Remarkable customer service has the power to change someone's day or even life.