: Ph₱ 100,000.00 Minimum to Ph₱ 1,000,000.00 Maximum per Borrower
Purpose/Requirements/Collateral
1. Farming, gardening and agricultural products.
2. Titled lot if loan is above Ph₱ 100,000.00 to Ph₱ 1,000,000.00
2. Below Ph₱ 100,000.00, im excess of share capital, must be covered with collateral e.g. Titled, tax declaration, Co-borrower
Note:
1. Every Member-borrower may avail loan products provided share capital is sufficient to cover the loan
2. Member-borrower can only avail another loan product if existing loan is 60% is paid
3. No Loan Capital Leveraging and/or times 2 or 3 of capital
PROCEDURE IN APPLYING FOR LOAN
1. Member-borrower to fill up data form for encoding by the loan processor
2. If loan-term e.g. businness/commercial loan, asset loan, car loan and agricultural loan, collateral requirements shall be submitted and ensure capital requirement have met
3. Loan Officer conduct ocular inspection on the collateral offered and make appraisal report.
4. Loan officer to present the collateral and appraisal report during regular board meeting.
5. Once presented and approved by the board of directors with complete attachments such as Memorandum of Agreement (MOA), Titled Collateral was registered in the Registry of Deeds (ROD), then loan is ready for release depending on the availability og funds.
6. Member-borrower is obliged to issue Post-dated checks as a form of payment.
7. If loan is not collateralize, member-borrower upon signing the loan application form and was approved, loan will be release at once.