Loans

Basic Processing Requirements Needed

•  Valid Business Permit

•  Business registration (DTI/SEC)

•  TIN

•  Statement of Income and Expenses

•  Working capital requirements/purchases

•  Bank Statements

•  Feasibility Study ( for new business and expansion programs )

•  Audited Financial Statements as required.

•  Others as required.

Terms and Conditions

• Membership should be a regular member of at least One year and has shown good credit dealings with the coop;

•  Term of the line is for one year, renewable;

• Availments may be made by way of  one (1) month to thirty-six (36) months promissory note;

• The Principal and Interest payable every month;

•  Covered by a credit line agreement or comprehensive surety agreement;

•  Secured Loan;

• Member must issue Post Dated Check for his/her monthly amortization;

•  A line availment shall be prepared upon every availment;

•  Renewal of the line shall be done one month before its expiry date;

•  The loan must be solely for the use of business working capital;

•  Member should submit the detailed working capital requirement of the business;

•  If one or more credit line availment is delinquent, additional draw down from credit line will not be allowed

Collateral Requirements

• List of inventories with affidavit of ownership;

•  Personal or real properties.

• Collateral value is more or less equal to the amount of loan applied.

Loan Amount

•  Minimum = Php100,000.00

•  Maximum =Php 5,000,000.00

Interest Rates

• 1.5 % per month straight based on loan amount applied every draw down.