Small Business FAQs
What is Business Line?
BusinessLine is a checkbook-based credit line that entrepreneurs and small and medium companies can use for business needs. BusinessLine can be customized to fit the needs of the different businesses we serve.
What is MyLine?
MyLine is a checkbook-based credit line that individuals can use for their personal needs.
What is FranchiseLine?
FranchiseLine can be a combination of a term loan (for construction purposes) and a checkbook-based credit line that new or existing franchisees can use for their business needs.
Who may apply?
Individual or Sole Proprietorship:
- Filipino Citizen, of legal age, and not more than 60 years old
- You and your spouse are free from: Past Due Accounts with any financial institution, Cancelled Credit Cards, Pending Court Cases that are financially material
- Take our Loan Assessment questionnaire to find out if you are qualified to apply for a loan!
Partnership or Corporation
- Company has been operating profitably for at least 2 years
- Company or any of its principals is free from: Past Due Accounts with any financial institution, Cancelled Credit Card, Pending Court Cases that are financially material
- Take our Loan Assessment questionnaire to find out if your business is qualified to apply for a loan!
Where can I go if I want to apply?
- You may apply online here
- You may go to a UnionBank branch nearest you You may e-mail firstname.lastname@example.org directly
What are the acceptable collaterals?
- Real Estate Mortgage on marketable commercial or residential properties
- Bank deposits
- Marketable club shares
- Franchise assets
I do not have any property under my name, can I still apply?
In case there’s no property under you name, you may use a third-party property of any immediate family member.
What is the minimum and maximum loan amount?
Minimum of Php1 Million up to a maximum of Php20 Million
How long is the payment period?
BusinessLine is a revolving credit line and has no fixed terms or payment period. You have an option to pay the total amount due or only the interest due for the month.
How can I withdraw from my credit line?
You’ll be given a checkbook and availment is done through issuing of checks.
How can I pay?
- Over-the-Counter at any UnionBank branch – fill out the deposit slip with account name and BusinessLine account number
- Online Banking. In case your account is not yet enrolled, you may fill out the ONLINE ENROLLMENT FORM at UnionBank branch nearest you.
I moved to a new residence or office address, how can I change my billing address?
- Please fill out the “CHANGE IN BILLING ADDRESS” form found in your SOA and fax it to (632) 636-6374 or scan and e-mail it to email@example.com, along with proof of billing (ex. electricity/ phone bill)
- If a copy of the SOA is not available, you can make a letter of request
If you have any more questions, please don’t hesitate to contact us. We’ll be happy to accommodate you.