We received this question from Mr. Edwin Catindig in response to my blog post on how to increase your chances of getting that bank loan approved.

I am interested in getting a loan for my projects next year. I want to know the ins and outs on how to get a loan. Can I use an “APPROVED PURCHASE ORDER” from my customer as a collateral for my loan or what other options can I avail? My expected loan amount is approximately P2 million and what collateral can I offer to the bank in order for my loan to be approved.

Thank you and I hope to hear from you soon.

Edwin Catindig
MJJP Enterprises

Here is BPI’s response:

Mr. Catindig’s purpose is one of the many purposes of our loan product called Property Equity Credit Line (PECL). It is a credit line that can be accessed via checks. Once the PECL of the borrower is approved by our Credit Committee, we provide him with a PECL checkbook consisting of 50 leaves instead of giving him promissory notes to sign. The PECL checks the borrower issues become his promissory notes. Very convenient, isn’t it?

Our PECL is collateralized by deposits, real estate, selected blue chip shares of stocks, selected club shares and/or AMTG investment products. Mr. Catindig may call me up for further details.

Regards to you and Happy New Year!

Tony Abad
BPI

Note from Salve: Mr. Catindig, please email me at lightdream (at) gmail (dot) com for Mr. Catindig’s telephone number. Good luck!