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Metrobank has three types of business loans which are SME Credit Line, SME Short-term Loan, and Long-term Loan. SME Credit Line is for people who wants to increase their working capital or those who need funding for their daily business operations. On the other hand, the two SME term loans are for those who are looking at acquiring a commercial property or equipment, so to speak, those who need to add more permanent working capital.
Aside from these, SME term loans are also for people who wants to: acquire new machineryequipment, construction, or renovation of commercial property (i. warehouse, facility, or building), franchise financing take-out a loan from another bank.
As for the interest rate, the amount of Metrobank business loan interest rate is not shared on its online site.
Implications of Late Payment. If you are unable to repay your loan on time for any reason, please contact your lender as soon as possible. Late payment fees are set by your lender in accordance with the regulations in your state, and lenders also determine their own policies in regard to how they handle late payments. There are several courses of action that your lender may take, so you should check your loan agreement for specific information that pertains to your lender.
Implications of Nonpayment. Financial Implications вЂ The cost associated with short term loans of up to 500 can range from 15 to 40, and these costs may climb even higher for loans that are greater than 500 urgent cash loans cape town value.
Before you sign your agreement, you should check these fees carefully. Similarly, there may also be charges applied for nonsufficient funds.
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