Every thriving business is fueled by a bold vision and, crucially, capital. That's because turning a good idea into a growing enterprise almost always requires a financial boost. You might need to bridge a cash flow gap, fund a major expansion, or simply build a cushion for uncertain times. So, securing the right loans for businesses is a critical step on the path to long-term success.
Fortunately, you have several options when you need extra funds. You could use your own personal savings or finance your business via bootstrapping. You could also consider business credit cards, government programs like those from DTI, investor financing, traditional bank loans, and innovative business banking loans from digital banks, like Maya Flexi Loan from Maya Business. This flexible credit line that offers up to PHP 2 million in extra funds lets you draw cash anytime your business needs it. Its low service fees and automatic payments are designed to keep your focus squarely on growth.
Of course, it’s a good business practice to compare options so you can choose one that truly aligns with your unique business goals and needs. To help you make the right decision, here are seven essential questions to ask yourself before you commit to a loan.
1. Is the Lender Legitimate?
Whether you’re dealing with a bank, an investor, or government financing programs, verifying legitimacy is key. You need to always check for regulatory approval, clear terms, and transparent fees to avoid potential pitfalls. After all, some sources may have hidden fees or aggressive collection practices that could harm your business in the long run.
In this regard, Maya Business stands apart. It’s backed by Maya, the country’s only end-to-end digital payments ecosystem, combining payments, deposits, and credit solutions under one secure platform. Moreover, Maya is fully regulated by the Bangko Sentral ng Pilipinas (BSP). This is a guarantee that your transactions and data are protected under strict national banking standards. All product offerings, from payment solutions to banking products, are also built on secure digital infrastructure, robust fraud prevention, and industry-grade data protection.
2. What’s the Purpose of the Loan?
No matter if you’re bootstrapping, using investor funds, or applying for a business loan from Maya, be absolutely clear about why you need the funds and how they’ll move your business forward. Ideally, your loan should help create value rather than simply cover losses. For example, you might use financing to expand to a new branch, boost inventory before the holiday rush, or upgrade store equipment. Conversely, borrowing to cover recurring losses without a recovery plan only deepens financial strain.
3. How Much Do I Actually Need?
With Maya Flexi Loan, you can unlock up to PHP2 million in additional funding and draw from it as needed. This flexibility allows you to take only what’s necessary so you stay agile while keeping your debt manageable.
This principle of finding the right amount applies across all financing types. You can achieve this by reviewing your current cash flow, savings, and planned expenses. For example, if you’re opening a second café branch, calculate the total cost including rent, renovations, equipment, marketing, and additional staffing. Then, subtract the resources you already have to identify the funding gap.
4. What’s the Total Cost, and Can I Repay It Comfortably?
Each financing option carries different costs. For example, investor equity may cost a share of your business, administrative expenses, or broker commissions. Consider, therefore, costs that go beyond the initial amount you receive, such as service or management fees, taxes, or penalties for missed or early payments.
To stay financially steady, evaluate whether your business can handle repayments comfortably, even during slow months. A loan calculator will help you by showing a preview of your payment schedule and total costs before you commit.
5. Do I Meet the Loan Requirements?
Similar to fees, requirements vary by option. Government programs may require business registration and a viable plan. Meanwhile, banks often need collateral and strong credit. Are your bills and existing debts in good standing? Is your cash flow steady? Strengthening these areas before applying can increase your approval chances and help you qualify for better terms.
To qualify for Maya Flexi Loan, in particular, you need to be an active Maya Business user with a Maya Business Deposit account. Your eligibility for a business banking loan depends on your sales performance and payment activity using Maya Business tools. You also don’t need collateral to qualify for it. In other words, if you’re growing your business within the Maya ecosystem, you’re already halfway through the loan process.
6. When Do I Need the Money?
Timing often makes the difference between opportunity and regret. Fortunately, Maya Flexi Loan ensures you never miss a moment. Once your application is approved, your funds are deposited directly and instantly into your Maya Business Deposit Account. There are no delays, no long waiting periods—just immediate access when you need it most. Because of this quick turnaround, you can confidently plan ahead, take advantage of bulk discounts, and jump on time-sensitive business opportunities.
7. How Will I Repay the Loan?
Managing repayments smoothly is just as important as getting approved in the first place. Again, repayment strategies vary by financing type. With Maya Flexi Loan, for example, repayments are seamless and automatic. You’ll receive timely reminders before each due date, and payments are deducted directly from your Maya Business account. Moreover, you can track your balances, view your due dates, and monitor your loan status anytime through the Maya Business Manager.
If a payment is delayed, a 0.17% daily penalty applies until the balance is cleared. While it’s best to avoid late payments, the transparent structure ensures you always know what’s expected. Moreover, paying on time strengthens your credibility as a borrower, which sets you up for bigger and better financing opportunities down the line.
Ready to Apply for a Maya Flexi Loan?
A business loan can be an excellent tool for growth, but only if it aligns with your business needs and financial stability. If, after answering these questions, you’re confident that a loan is the right choice, then sign up for Maya Business to start your application.
Setting up a Maya Business account qualifies you for a no-collateral Maya Flexi Loan offer of up to PHP 2 million in just 3 months, allowing you to have another funding source to further develop your business. Just use Maya as your primary processor for all wallet and card payments. The more you use our solutions, the better the loan offer will be.
Signing up also lets you open a Maya Business Deposit account and use it as your settlement account. With an industry-leading 2.5% per annum interest rate, you’ll earn PHP 25,000 in interest per year on a PHP 1 million deposit. Furthermore, you’ll be able to send money to your partners and suppliers for free via InstaPay and PESONet, letting you save more.
Sign up for Maya Business today to enjoy the benefits of Maya Business solutions.
