Businesses need the opportunity to grow and Citystate savings bank offer loan packages suitable to your every need. Whether you need additional working capital or have seasonal cash requirements, our business loans provide the kind of payment terms and flexibility you are looking for.

REAL ESTATE LOANS

These are loans to finance of related properties for the purpose of the following:

1. Acquisition of a lot
2. Acquisition of a house and lot
3. Acquisition of a residential lot or a condominium unit
4. Refinance the construction, renovation or improvements of a residential unit

Basic features:

1. Flexible terms from 6 months to a maximum of 8 years
2. Automatic debit options from your checking or savings account
3. Fast processing time with an average of about 3 weeks from complete submission of the requirements

Conditions:

Borrower's Eligibility

1. Source of Income - The borrower should have a sufficient steady and dependable source of monthly income
2. Employment or Business
   1. At least one (1) year stay with present employer
   2. Employer must be a company operating for at least three (3) years
   3. If self employed, borrower must be in the same business or profession for at least three (3) years; Business or profession must have been profitable for the previous year
   4. If corporate borrower, Business or profession must have been profitable for the last two (2) years
3. Permanency of Residence
   1. If owned, NO minimum period required provided ownership is verified and confirmed by credit investigation
   2. If rented, a minimum of at least three (3) years of stay should be established
4. Legal Capacity - at least 21 years old but not more than 60 years old
5. Monthly amortization should not exceed 30% of the gross monthly income
6. No derogatory court case record
7. Favorable credit reputation

Basic requirements:

Individual

1. Duly accomplished loan application form
2. Latest 2x2 picture of applicant and co-borrower
3. If employed (for both applicant and co-borrower)
   1. Certificate of employment indicated tenure, position and compensation
   2. Individual Income Tax Return (ITR) for the last three (3) years with confirmation receipt and tax payment order
   3. Photocopy of company ID
   4. Bank statement / passbook entries within the last three (3) months
4. If self employed
   1. Certificate of business registration with BDP / DTI
   2. Mayors permit
   3. Bank statement / passbook entries within the last three (3) months
   4. Audited Financial statements of business and income tax return (ITR) for the last three (3) years
   5. Cash Flow Statements and projected balance sheet and income statement supported by assumptions

Corporate

1. Corporate Information Sheet
2. SEC Certificate of Registration
3. Articles of Incorporation and By-Laws
4. Audited Financial Statements of Business and Income Tax Return (ITR) for the last three (3) years stamped by the BIR
5. Bank Statement / passbook for the last three (3) months
6. Company / Business profile (history, list of major officers and stockholders, product lines)
7. Curriculum vitae / bio-data of key officers
8. List of major clients / customers / suppliers indicating contact persons, addresses and telephone numbers
9. Board Resolution / Secretary's Certificate authorizing:
• To borrow / sell receivable
• To assign / pledge mortgages
• To enter into Trust agreement
• Designated Authorized signatory/ies IAC/DBFF

Collateral requirements:

1. Photocopy of Transfer of Certificate of Title (TCT)
2. Location plan with vicinity map, duly prepared and certified by a geodetic engineer or licensed surveyor
3. Photocopy of latest Tax declaration on land and building improvement
4. Photocopy of Real Estate Tax Receipt of the current year
5. Original copy of Tax Clearance of Certificate of non-delinquency in payment of realty tax for the current year
6. If condominium, photocopy of the following:
• Condominium Certificate of Title
• Master Deed of Declaration and Restriction
• Floor plan
7. If construction / renovation / expansion
   • Building plans duly signed by the Civil Engineer / Architect
   • Bills of materials and construction cost estimates
   • Copy of the Building permits

LOANS SECURED BY DEPOSIT

A loan secured against existing deposit account with Citystate Savings bank

Conditions :

BILLS PURCHASED

Immediate credit of checks of local or regional clearing to borrower's account with the Bank. These proceeds become readily available without having to wait for the prescribed normal clearing period for local or regional clearing.

Conditions