Loan to Small Business

The segment of Persons Banking Business provides the needs of clients with commercial activities that include sole proprietors and individuals with a commercial activity with a minimum of 3 years of operation.

Parameters
  • Term: For mortgage loans between 10-15 years, depending on the amount.
  • Payment: For mortgage loans from 40% to 20%.
  • Mortgage Guarantees: Land, main housing, other houses and business premises
Independent professionals: are salaried professionals that have additionally to being employed, a private business, such as doctors, lawyers, architects and engineers and others.

Independent professionals Requirements

Freelance professional:
Natural person who receives income in the free practice of his/her profession and who is deemed a professional given his/her experience in his/her field.
  • Copy of personal identity card.
  • Copy of second personal identity card. (For foreign persons, updated immigration status shall be required)
  • Social security card or payment slip.
  • Employment letter addressed to Multibank Inc.
  • Electricity or telephone, water or cable bill.
  • APC authorization, signed
  • Appraisal of real property (not more than 12 months) by an appraiser authorized by the Bank. For Car Loans, Vehicle Proforma or quotation.
  • Latest financial statements or income return, payment receipt.
  • Statements of account for the last 6 months from the bank account where income is managed.

Independent traders:
are those that have their incomes product of a commercial activity as a natural person, which have an operation notification, of commercial or industrial license.

Independent traders Requirements

Sole Trader:
Natural person, holder of operation notice, whose income is obtained from a business activity.
  • Copy of personal identity card.
  • Copy of second personal identity card. (For foreign persons, updated immigration status shall be required)
  • Electricity or telephone, water or cable bill.
  • APC authorization, signed
  • Appraisal of real property (not more than 12 months) by an appraiser authorized by the Bank. For Car Loans, Vehicle Proforma or quotation.
  • Copy of Trade or Industrial License or Operation Notice or Certificate of Suitability.
  • Financial statements for the 2 previous years or latest two income returns and payment receipts.
  • Statements of account for the last 6 months from the bank account where business income is managed.

Juridical corporations:
are duly organized, they have an Operation Notification, or commercial or industrial license and a Charter.

Juridical corporations Requirements

Companies:
  • Copy of personal identity card of the authorized signatory of the company, the CEO and Secretary.
  • Copy of second personal identity card of the authorized signatory of the company, the CEO and Secretary. (For foreign persons, updated immigration status shall be required)
  • Electricity or telephone, water or cable bill.
  • APC authoriation, signed
  • Appraisal of real property (not more than 12 months) by an appraiser authorized by the Bank. For Car Loans, Vehicle Proforma or quotation.
  • Copy of Trade or Industrial License or Operation Notice or Certificate of Suitability.
  • Financial statements for the 2 previous years or latest two income returns and payment receipts.
  • Statements of account for the last 6 months from the account where business income is managed.