Getting a Personal Loan: A First-Time Borrower’s Guide

Where To Apply For Business Loans In The Philippines?

Starting a business is a challenging feat: from finding the right products or services that are profitable, to funding or having enough capital to start. 

The risks that come with a business too isn’t one to underestimate – if you want to make it work, either you go all out, or you just don’t at all. Go hard or go home as they say. Even businesses that are already up and running will need some funding once in a while to get through some lean earnings periods.

The good news is if you’re a business owner or in the process of starting a business, there are resources that you can tap on for your financial needs. Provided that you have all the legalities covered to operate your business, qualifying for a business loan will be a breeze.

If you don’t know where to start, these business loans are a good place to begin your search. 

Esquire Financial Business Loan


This lending company targets entrepreneurs and small to medium business owners. The Philippines has over a million registered businesses today, 99.6% of which are considered as SMEs and not all of them have access to financial institutions that will grant them enough funding for their businesses.

Esquire targets this market and they proudly advocate entrepreneurism among small and medium enterprise (SME) owners. This financial company makes funding easier to access for SME owners.

Esquire Financing Business Loan

Esquire Financing Business Loan

No Collateral Business Loan

Loan approval in as fast as 7 days.

What are the requirements to get an Esquire Business Loan?

Unlike other business loan providers, Esquire has certain criteria on top of the documentation required before they consider granting a loan to a business.

  • Business must be in operations for at least 1 year.
  • Business must be registered to DTI (if sole proprietor) or SEC (if partnership/corporation) under the borrower’s name.
  • Business must have a Mayor’s permit and Barangay clearance registered under the borrower’s name.
  • The borrower must be the owner or primary shareholder of the business.
  • The borrower must have an active checking account for at least 6 months.
  • The borrower must be the signatory on checks.

Documentation required

  • TIN ID and any other government-issued ID proof of the Principal Borrower
  • Latest three (3) months Bank Statement and Bank Certification
  • Photocopy of valid Mayor’s Permit
  • Photocopy of valid Barangay Business Clearance
  • 1” x 1” ID picture of the Principal Borrower
  • 1 Picture of Exterior – Picture of the business premise from outside with signboard and its surroundings
  • 1 Picture of Interior – Picture of business inventory
  • Latest (not older than 2 months) proof of billing for Business and Residence
  • Sketch/map of Business and Residence location with the nearest landmark
    *Additional documents may be required during credit evaluation.

How to apply for an Esquire Business Loan:

  • Log on to their website.
  • Register by clicking the “Create An EFI Account” option
  • Fill out the online application form and upload the necessary documents.
    • Pre-approval will be granted to applicants who submit their latest 3 months bank statement.
  • Wait for 48 business hours after you have uploaded the complete documentary requirements.
  • Notification via text message and email will be sent to the borrower upon loan approval.
Approval turnaround time 48 hours from the application
Disbursement turnaround timeWithin 24 to 48 hours from approval
Minimum loan₱100,000
Maximum loan₱10,000,000 (with collateral)
Interest rate3.5% per month
Term3 months to 1 year.

How can I get the funds?

Funds will be deposited to the bank account you’ve indicated in the application form, and funds will be disbursed 24 to 48 hours from the time of approval.

Pros and cons of Esquire Business Loan

While their loan product is indeed appealing to SME owners, the loan amount they grant shouldn’t be the only thing factor to put into consideration when deciding.  Their loan product for business owners are helpful, but make sure you’ve done your homework to ensure it doesn’t become a burden to your business.

  • Undeniably, their loan amount is big.
  • One of the more established non-bank business loan providers.
  • Quick turn around time.
  • An amount as big as ₱10,000,000 or even ₱100,000 isn’t exactly the type that you’d settle as a short-term loan.
  • The steep interest rate may make it more challenging for business owners to settle the repayment while raking in revenue in such a short time to sustain their business.

Radiowealth Finance Corporation (RFC) Business Loan

RFC is one of the longest-running private finance/lending company in the Philippines. The company was established in 1964 and they pioneered (non-bank) offering car and appliance loans to Filipinos.

Today they have 100 branches all over the country offering a variety of loan options to Filipinos including business loans.

RFC Business Loan

RFC Business Loan

Low income requirement

Up to ₱1,000,000 business loan approved in 3-5 working days

What are the requirements for an RFC Business Loan?

RFC’s business loan is applicable to SMEs and even big corporations. To apply, these are the requirements that you need to submit when applying for the loan:

Self Employed 

  • Completed Application Form
  • Two (2) ID pictures (1×1 or 2×2)
  • Passbook (open for six months)
  • ITR/W2/W2316
  • Anyone (1) valid primary ID (SSS, GSIS, Postal ID, Voter’s ID, Driver’s License)
  • Or two (2) secondary IDs (Pag-ibig ID, PhilHealth)
  • Latest utility bill (telephone, electricity, water, or cable)


  • Completed Application Form
  • Corporate/Partnership Registration Certificate
  • Secretary’s Certificate
  • Minutes of the Board Resolution stating the authorization of loan application
  • List of authorized signatory/ies
  • Mayor’s / Business Permit
  • Copy of SEC Registration

Additional Requirements For PDC Collection Payments

The latest deposit slip (on the checking account) that is not more than one week old.

How to apply for an RFC Business Loan:

  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”.
  1. 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.”
  1. The next page is where you fill up all your basic personal information. Click “Next” once done.
  2. 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.
  3. You will receive a call within 24 to 48 hours from the time of application.
Approval turnaround time 3-5 working days from application
Disbursement turnaround timeWithin 24 to 48 hours from approval
Minimum loan₱100,000
Maximum loan₱1,000,000 (with collateral)

₱150,000 (without collateral)
Interest rate3.5% to 4% per month
Term3 months to 1 year
Other feesOne-time 6% processing fee deducted from the approved loan amount.

₱200 notarial fee

How can I get the funds?

Funds will be reimbursed in person through any of RFC’s branches nationwide (whichever is closest to your location).

Pros and cons of RFC Business Loan

RFC is a great loan provider for businesses that are just starting out.


They’re very lenient when it comes to eligibility. The minimum income required is quite low and the overall requirement isn’t that intimidating even to small business owners.


The downside to their loan services is the term, maximum term is only 12 months.

Global Dominion Doctor’s Loan

Image result for global dominion

This financial services provider is among the well-established private lending companies in the country. They have more comprehensive loan products that cater to a wider demographic and more varied financial needs of Filipinos. They have many branches across the country and one can also choose to do a walk-in application in their branches.

Global Dominion offers a much wider variety of loan products tailored to the general public and individuals from different professions.

Global Dominion Doctor's Loan

Global Dominion Doctor's Loan

Fast Approval Loan For Physicians.

No Monthly Income Requirement.

What are the requirements to get a Global Dominion Doctor’s Loan?

Only the following applicants are eligible for this type of loan:

  • Dentists
  • Physicians
  • Other Medical Specialists with Active PRC ID.

Documentary requirements

  • Updated PRC ID
  • Latest 3 months Bank Statements
  • Patient Ledger
  • 2 Valid IDs
  • 2 pcs. 2×2 picture
  • Latest and Original Electric or Water bill

How to apply for a Global Dominion Doctor’s Loan?

  • Log on to their website and click the apply now button.
  • Fill in your information on their application page.
  • Upload the necessary documents.
  • Wait for a call from their representative with 24 hours upon the submission of the application.
  • GDFI will contact you by phone and email once your application is approved.
Approval turnaround time Within 3 to 5 business days from the application
Disbursement turnaround timeWithin 3 to 5 business days from the approval
Minimum loan₱50,000
Maximum loan₱300,000
Interest rate3.5% per month
Term3 months to 1 year.

How can I get the funds?

Funds will be disbursed through their local brand. They have main branches in key cities – Davao, Cebu, and Metro Manila.

Pros and cons of Global Dominion Doctor’s Loan

Global Dominion’s offering is the most comprehensive among what is offered in the market. Their screening process and credit investigation are stricter and more stringent than the rest of the online cash loans, but in turn, you can get a higher loan offer depending on your income.


Their loan amount is appropriate for individuals who are seeking major funding for some big-ticket projects like starting a business, home renovation, car purchase and other projects that require sizeable funds injection.


Even for big loan amounts, the repayment is only 24 months at the most, on top of a huge interest rate. If that’s not going to be a hindrance to your cash flow, then their loan product might work for you.


First Circle Business Loan

First circle is not your typical online lending company. They’re the first to have branded themselves as a fintech company that provide financing opportunities to business entities. The main marjket of their serivices are Small and Medium Enterprises, helping them grow with convenient access to financial services.

First Circle Business Loan

First Circle Business Loan

Get as much as ₱2,500,000 all in just one click!

Get rebates for early payments

What are the requirements to get a First Circle Business Loan?

First cirlce business loan come with strict screening process, thus they will require various documentation and have a more tedious set of eligibity to comply if you want to be approved for their business loan.

Personal information requirements

1 Valid Government ID of the Business Owner or a Board Member. Only the following IDs will be considered:

  • Passport, Driver’s License
  • TIN ID
  • PRC ID
  • Postal ID
  • Unified Multi-Purpose ID

Must be the ID of the Business Owner or a Board Member with signature. Scanned ID is also accepted.

Business information requirements

1. Proof of Billing Address

  • Mayor’s Permit, Lease Contract
  • Utility Bills (such as Meralco, Water Bills, etc.)

Only utility bills dated within the last two (2) months can be accepted.Your declared address and other information should match with other Business Documents.

2. DTI or SEC Certificate

  • DTI Certificate for Sole Proprietors
    • Watermark should be clearly visible.
    • Certification should be in the last 5 years.
  • SEC Certificate for Corporations
  • Dry seal should be clearly visible.
  • For Partnerships, please submit your updated Article of Partnership together with your SEC Certificate.
  • Your declared address and other information should match with other Business Documents.

3. BIR Certificate of Registration

  • Form 2303
  • Your declared address and other information should match with other Business Documents.

4. General Information Sheet

  • For corporations only.
  • Submit copies of all pages of your most recently filed General Information Sheet for verification purposes.
  • Please ensure that the document has a stamp from the SEC.

How to apply for a First Circle Business Loan?

  1. Log on to First Circle’s website and click “sign up”
  2. Fill in your personal and business information.
  3. Upload your documents.
  4. Submit an invoice or purchase order.
  5. Wait for the loan offer, it will be made available in your online account after First Circle verifies you details and documents.
  6. Once you receive the offer and accepted it, a courier wille scheduled to personally collect your post dated cheques (PDCs). Their serviceable areas are Metro Manila and some areas of Rizal, Cavite, and Laguna.
  7. Once your cheque is collected, just wait for the funds to be transferred to your bank account.
Approval turnaround time Approximately 5 business days
Disbursement turnaround time48 hours from the receipt of your PDCs.
Minimum loanNo minimum amount
Maximum loan₱ 2,500,000
Interest rate1.74% per month
Term6 months only
Other feesOne-time 1.99% processing fee deducted from the loan.

How can I get the funds?

Once approved, your funds will be directly wired to your bank account within 48 hours upon the receipt of your PDCs.

Pros and cons of First Circle Business Loan

Branding themselves as a provider of accessible financing options for businesses do make it really accessible for striving businesses?

  • Loan application process is purely only and straight forward.
  • Disbursment of funds is convenient.
  • Interest rates are considerably low.
  • Potentially big loan approval amount if your business is big enough.
  • Stringent screening process
  • Documentation needed are quite a handful
  • Term is very short
  • Post dated cheques as mode of payment comes with higher risks for the borrowers. You’ll incur ridiculously expensive fees for late payments.

Zenith Capital Credit Group

This private lending company based in Pasig offers business loans amounting to ₱500,000 to ₱10,000,000 pesos. According to its website, Zenith is a financing company that facilitates quick and easy-to-access non-collateral business loans which are applicable to either sole proprietorship businesses, partnership, or a corporation. 

Zenith Business Loan

Zenith Business Loan

Get approved in 7 days!

Up to ₱10,000,000 business loan

What are the requirements for a Zenith Credit Business Loan?

They have different requirements for different types of businesses, which are as follows:

Sole proprietorship

  • Latest original 3 months bank statements and bank certification 
  • Copy of Mayor’s and Barangay Business permit 
  • Copy of DTI Permit
  • Photocopy of at least 2 Government-issued IDs 
  • 1”x1” ID Picture 
  • Pictures of the business and/or inventory 
  • Proof of billing for your business and residence (i.e. electricity, water, cable)
  • Hand-drawn sketch of your business and residence location 
  • Photo of your business


  • Articles of partnership CORPORATION 
  • SEC registration with Article of Incorporation & By-Laws 
  • General Information Sheet
  • Secretary’s Certificate with Board Resolution (Authority to obtain a loan in his/her personal capacity)
  • Income Tax Return with Audited Financial Statements

How to apply for a Zenith Credit Business Loan:  

Go to their website and fill in our name, phone number, email, and other information required there. 

  1. Download their form then click “Apply Now.”
  2. Fill in the form and wait for an email or call from their representative within 24 hours.
  3. You will be required to email your documents to their representatives. 
  4. Once approved, your funds will be released within 7 business days from the approval of the loan. 
For your information

Open a checking account if you don’t have one yet. Repayment is done through post-dated checks.

Approval turnaround time Within 7 business days from the application
Disbursement turnaround timeWithin 7 business days from the approval
Minimum loan₱500,000
Maximum loan₱10,000,000
Interest rate3.5% per month
Term6 months to 1 year
Other feesOne-time 5% processing fee deducted from the loan.

How can I get the funds?

Funds will be deposited to the bank account you’ve indicated in the application form, and funds will be disbursed within 7 business days from the approval date. 

Pros and cons Zenith Credit Business Loan

Zenith Business Loans offer a hefty sum of money for businesses in need of additional capital or funding. Their loan product is suitable for medium-sized businesses due to the minimum loan amount that they grant. 

  • The loan amount is big
  • Convenient mode of payment
  • Practical requirements
  • For a big loan amount, their payment term isn’t very favorable. You’ll need to earn back the amount you’ve borrowed in a year or less. 
  • Processing time and reimbursement will take more or less 2 weeks
  • Not suitable for small businesses.

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