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High loan amount for repeat clients
|Min. Financing Amount||₱1,000,000|
|Max. Financing Amount||₱3,000,000|
|Min. Loan Tenure||1 year|
|Max. Loan Tenure||3 years|
|Interest Rate||36% (may be as low as 22.80%) per annum|
|Approval Duration||2 to 3 business days|
|One time set up|
|Processing Fee||3.00% of approved loan amount|
|Stamp Duty||₱400 (including notarial fee)|
|Age requirement||Age 21 - 60|
|Employment eligibility||Business must have continuously been in operation for 5 years|
|Min. salary requirement||₱166,667 gross per month|
|Need to open linked bank account?||No|
|Other details||Loan repayments may be done through PDCs only; for existing Welcome Bank Business Loan customers only|
Welcome Bank is a subsidiary of Welcome Financial Group, a specialized retail banking provider from Korea established in 2002. They offer a wide range of financial solutions to retail consumers from credit lines and loans, to banking products such as savings accounts, to digital banking services.
One of their offerings to the retail market in the Philippines is their Premier Business Loan. This loan option caters to small and medium business owners in the country who are in business for five years or more. The premier business loan offers access to financial services that can further enrich the operations of an already established local business through sufficient funding. It comes with a fairly reasonable eligibility requirement, one that shouldn’t give our local entrepreneurs a hard time to qualify for.
You can apply for a Welcome Bank Premier Business Loan by simply applying through our online application form. Once we receive your application, our Customer Care Agent will get in touch and guide you through the entire application process.
Welcome Bank’s Premier Business Loan offers PHP50,000 up to PHP2,000,000 loanable amount.
Welcome Bank requires their loan applicants to meet certain eligibility requirements and provide the following documents.
*Additional documents may be required during credit evaluation.
The estimated monthly interest rate for Welcome Bank’s Business Loan is 3% but it can go as low as 1.9% depending on the assessment of the bank.
Repayment options are from 12 to 36 months.
The following fees will be deducted from your loan amount:
Their Premier Business Loan calculator provides you with a rough estimate of how much your monthly amortization will be based on your desired loan amount and payment term (tenure). You only need to fill in the amount of loan you’re applying for and your preferred tenure.
You may check your Premier Business Loan application status through the 'My Page' section on Welcome Bank's homepage.
You will receive a phone call from a Welcome Bank sales associate to schedule you for loan release.
Loan repayments may be done through PDCs only.
You can repay all your outstanding loan anytime with a corresponding pre-termination fee.
Yes. You can apply for renewal once you finish repaying half of your terms or upon reaching 6 months (whichever comes first). However, the loan balance of your existing loan will be deducted from your new loan disbursement.
Yes, as long as your business is registered and can comply the Business Loan requirements.
It is your decision whether to apply for a Personal/Salary loan or a Business Loan depending on your need and as long as you pass through the qualifications.
This loan option is made for the owners of more established local businesses. If you meet the eligibility requirements of at least 5 years of business operation, PHP2 million in monthly sales revenue, and a credit card with a credit limit of PHP100,000 for 2 years. If you tick all these boxes, this loan should be right for you.
Esquire Financing has been offering financial lending services to SMEs since 2011. Their business loan offers high loanable amount starting from ₱100,000 up to ₱10,000,000 with a competitive interest rate of 3.5% per month. Loan tenure starts at 3 to 6 months, payable via post-dated checks. You are qualified to apply if you have a minimum monthly income of ₱300,000.
Radiowealth Finance Corporation or RFC is a fully Filipino-owned financial services provider that has been in the industry for more than 50 years. Their business loan offers amounts from ₱100,000 up to ₱1,000,000 for as low as 3.5% interest rate per month. You application can be approved within 3 - 5 business days with a loan tenure starting from 3 up to 12 months. A low minimum monthly income of just ₱7,000 is required to apply.
With a high loanable amount of up to ₱10,000,000, Zenith business loan lets you borrow at competitive interest rates starting from 2.5% per month. They offer flexible loan tenure ranging from 3 to 12 months with approval in as fast as 7 working days. You are eligible to apply as long as you have a minimum monthly income of ₱20,000.
You can also consider other similar products on our list of business loan providers available on our site. Check eligibility details and compare other providers to help you decide which one is best for your needs.