May 4, 2017

Short Term Working Capital Loan

Loan Star Lending Group provides short term SME loan for businesses in all sectors. Working capital is the amount of liquid assets that a company has on hand. It is the funding that keeps a business running from day to day and it varies according to workload, staffing requirements, and other business factors. A lack of working capital makes it hard to attract investors.

This kind of working capital loan is often based on the company’s accounts receivable and can be easily adjusted as necessities change.

SME Loan Solutions That Work For You

Short term working capital solutions include asset-based lending, accounts receivable financing, factoring, and more. Because our working capital solutions are based on your financial health and accounts receivable, we can increase your funding or lower it down as necessary to match what you need.

We work with businesses across the wide range of industries, including staffing, manufacturing, transportation, services and much more. We will work with you to understand the unique challenges facing your company, determining your working capital needs and making a lending design that can grow alongside with you.

Flexible To Meet Your Changing Needs

When you choose Loan Star Lending Group, you will receive a short term SME loan that is in line with your working capital needs. You can select flexible accounts receivable financing where each invoice you receive is funded individually, qualify for our asset-based lending program or select invoice factoring.

Loan Star Lending Group can create a solution that fits your business demands and your business structure.

Eligibility Requirements

  The businesses to which the loan will be applied for must meet the following criteria:

  • •  Duly registered to operate as a business in the Philippines;
  • •  Must have been operating for at least 3 years, and profitable for the latest 1 year.
  • •  With no outstanding debt that exceeds 40% the company’s monthly income

  Each SME loan must be tied to the business’ primary owner; for partnerships/corporations, this means:

  •   Owner with simple majority (individual with the single largest stake in the company) must provide details and sign off on the loan application form, and ultimately be the signatory in the surety agreement prior to loan booking
  •  If simple majority is shared across multiple owners, only (1) of them is required to sign off on the loan

  Identified business owners will then be required to have:

  •  An existing account with Security Bank (at least 6 months old with PHP 50K ADB) OR Existing credit card (any bank; credit card number/s must be provided in application)
  •  Permanent residency in the Philippines;
  •  At least 21 years of age at the time of application and not more than 65 years of age upon maturity of the loan

Documentary Requirements

  SOLE PROPRIETORSHIP

  •   Signed and Completed Application Form
  •   Copy of 2 valid IDs with photo from primary applicant / owner / authorized signatory
  •   Latest ITR with BIR stamp
  •   Latest (2) years Audited Financial Statements
  •   Valid DTI Registration docs
  •   3 months latest bank statement
  •   List of customers/suppliers and details about their dealings
  •   Valid Business or Mayor’s Permit

  PARTNERSHIP/CORPORATION

  •   Duly Signed and Completed Application Form
  •  2 valid IDs with photo from primary applicant / owner / authorized signatory
  •  Latest ITR with BIR stamp
  •  (2) year latest Audited Financial Statements
  •  Valid DTI/SEC Registration documents and GIS
  •  Latest 3 months bank statement
  •  Customers/suppliers list and details about their dealings (The following documents will be required by the bank prior to loan booking:
  •  Partnership / Board Resolution (authorizing signatory for accounts and loan, credit investigation on both the business and owners)
  •  Continuing Suretyship Agreement (for corporations) Client will be given templates at point of application to prepare for the loan decision )
  •  Valid Mayor’s or Business Permit
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