Philippines - Apply for DBP and mSME Loan

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Procedure

Apply In-Person:

1. To Apply for DBP and mSME Loan, the applicant has to approach Development Bank of Philippines – link
2. The applicant has to Discuss their project proposal with a DBP account officer as per the business needs.
3. An application form will be provided to the applicant by the concerned officer.
4. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
5. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
6. The applicant has to attach photocopies of the required documents along with the application form while submitting it.
7. Submit all the documents with the completed form to the concerned officer.
8. The applicant has to pay the prescribed fee as requested by the authority. (If required)
9. After receiving the application, the concerned authority will check the submitted application and document set. If all are in place, the application will be accepted.
10. An acknowledgment receipt will be provided. Please save it for future reference.
11. Once the application has been approved, open an account at DBP. All transactions will then be made through the DBP account.
12. DBP shall advise the applicant through a formal letter and phone call if the applicant’s application has been approved.
13. On the average, it takes 30 to 36 days to process a loan, assuming all documents are complete.

Note: A project is monitored three months after the loan has been released. For new projects, quarterly visits are conducted.

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Required Documents

• Completed application form
• Company background, corporate mission/vision, highlights of past achievements, and/or corporate milestones.
• Securities and Exchange Commission (SEC) Registration.
• Certified copies of Articles of Incorporation and By-Laws, with amendments if applicable.
• Board of Investments (BOI) Registration, if applicable.
• Accomplished Customer Information Report (Form A).
• Accomplished Confidential Information Sheet (For each Officer/Stockholders).
• Board Resolutions/Secretary Certificate authorizing the borrowing, designating the authorized signatories, and allowing mortgage of properties (include specimen signatures) – Notarized
• Management and organization structure write-up.
• Write-up on shareholders (profile and strengths that bring direct benefit to the company).
• Current members of the company’s board of directors and senior executives with a description of their educational and professional background.
• Operations
• Financial Aspect

For more details, please check the following link

Office Locations & Contacts

DEVELOPMENT BANK OF PHILLIPINES
Head Office: Sen. Gil J. Puyat Avenue corner Makati Avenue, Makati City, Philippines
Mailing Address: P.O. Box 1996 Makati Central Post Office 1200 Makati City, Philippines
Trunk Line: (632) 8-818-9511
Customer Service Hotline: 8-683-8324
E-mail: [email protected]
Contact details link

Eligibility

• Any company who intends to Apply for DBP and mSME Loan is eligible to make this application.

Fees

• The applicant has to pay the prescribed fee as per the authority’s request.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• This entire process can be completed within 30 - 36 days or as per the timeline advised by the respective department authority.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
• Applicants must provide genuine information while applying for this procedure.

Required Information

APPLICANT INFORMATION

• Name to Appear on Licence (Person(s)
• Business Contact Person
• Legal Status of Business
• Mailing Address
• City or Town Province Postal Code
• Telephone Number
• Email Address

ESTABLISHMENT INFORMATION

• Establishment Name
• Establishment Contact Person
• Establishment Address
• City or Town
• Province
• Postal Code
• Telephone Number
• Establishment Email Address
• Establishment Premises ID

Need for the Document

• MSME loans are unsecured loans offered by several financial institutions to help entrepreneurs meet various business-related expenses.

Information which might help

• For more information link

Other uses of the Document/Certificate

Please explain what are other uses for obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

link

Others

6 Benefits of MSME Loan for Business Owners

• Reduced turnaround time.
• Convenient loan application process.
• No need to frequently visit the lender's office.
• Paperless loan application process.
• Relatively lower interest rates.
• Unsecured form of debt.