In today’s highly competitive market landscape, having easy access to funding is a key factor in ensuring the success of any growing business. Entrepreneurs need the confidence that they can readily obtain financing through banks, allowing them to take advantage of opportunities in the marketplace and support sustained business growth.

As one of the country’s leading thrift banks that provides various business solutions to its clients, Sterling Bank of Asia (SBA) has pledged its support to help small and medium enterprises thrive in the ever-competitive marketplace.

SBA offers a wide range of business loan products that cater to the different needs of its customers, ranging from startups to established enterprises. 

Are you an entrepreneur or business owner looking to take your company to the next level and in need of financial support? Here is a list of banking products that are available to you.

Term Loan

1. For working capital requirements. This is short-term revolving credit that allows for staggered or full loan availment. Monthly principal amortization and interest payments are required.

2. For capital expenditures. This type of loan provides a lump sum of cash upfront to finance acquisitions of properties, plant and equipment, and the construction of buildings, warehouses, and production facilities. Repayment is fixed over a specific period/term. It requires amortization of principal on top of making regular/monthly interest payments. Repayment period ranges from one to five years. This will require projections to be prepared by the borrower/applicant.

Trade Check Discounting

Check discounting is a bank product that will help finance your short-term funding requirements. Post-dated checks held by the borrower/applicant are surrendered to the bank in exchange for cash. Appropriate fees and interest will be deducted from the loan proceeds.

Developmental Loan

This loan is for those who are planning to develop a real estate property intended for sale or to lease out to prospective tenants in the future. To apply for this loan, borrowers/applicants must provide a project study detailing the development costs and sources of repayment. This information will help determine the loan term and repayment structure to align with the expected cash flow.

Domestic Bills Purchase

This product is for borrowers/applicants who require immediate conversion of a dated check deposit into Cash on the same day the Bank waives the check-clearing period. Appropriate fees and charges will apply.

Letter of Credit or Bank Guarantee (Domestic/Foreign)

This is being issued by the Bank as a form of guarantee of payment to the beneficiary (supplier/seller) of the Bank’s client (buyer) for the latter’s purchase of goods and services.

Trust Receipt

Trust Receipt is used to settle an existing/open Letter of Credit (Domestic/Foreign). The Bank will advance payment for goods and services to the beneficiary (supplier/seller), in behalf of the borrower/applicant. The Bank will retain ownership of the goods and services, while the TR is outstanding. Borrower/applicant is required to make principal amortization and monthly interest payments.

Factoring of Receivables

This product converts the borrower’s/applicants’ trade receivables into cash, which can bridge finance funding gaps.

Choosing the right bank financing product is essential for your business’s success. We are confident that your business will reach its full potential with the appropriate loan funding. So, evaluate your funding requirements carefully and choose wisely from the different bank products. Rest assured that SBA is here, always ready and willing to help you meet your every need and goal.

 Visit the bank's business loans page to know more.