The SmallBiz Revolving Credit Line (RCL) Facility is a flexible, standby, individual loan product of Rizal MicroBank.
The SmallBiz RCL allows a borrower to borrow money from the Bank without the hassle of applying for a loan every time the need for funds arises. It is a reusable source of funds that can readily be tapped at the borrower’s discretion subject to approved credit line limit and term set by the Bank.
The line will be available for one year. During this allotted period of time, the facility will allow the borrower to take out, repay, and take the loan out again, and allow the borrower to use as much of the credit as is available and only pay interest on what has been used.
Loan amount ranges between P150,000.00 to 20M subject to client’s capacity to pay. Loan increases are subject to repayment behavior and cash flow evaluation.
|Single proprietorship, Partnership, Corporation, Cooperative|
|21 to 60 years old|
|A resident in the branch trade area for at least 3 years|
|Business has been existing for at least 5 years and profitable for the last 3 years|
|No delinquent accounts with other financial institutions|
|No adverse record with local and national credit bureaus|
|No collection or sum of money cases in the Barangay or municipal court|
|Willingness to open and maintain a deposit account with RMB equivalent to at least 1% of the approved credit line (except for accounts secured by a CTD)|
*Terms and Conditions for partial or full
- Line must be availed within 1 month from approval.
- Maximum of 1 year and available via 30-days to 180 days PN