Who may avail of a loan?

  • 1. All Regular Member
  • 2. Maintain a Savings Deposit of Ph₱ 1,000.00

Business/Commercial Loan (Long Term)

Financial charges

  • 1. Interest
  • : 1.67% per month, Diminishing, 3 months interest pre-deduct
  • 2. Service Fee
  • : 3.5% pre deduct
  • 3. Fines
  • : 5% after maturity
  • 4. Loan Insurance
  • : .001 per loan
  • : amount per annum
  • 5. Appraisal Fee
  • : Ph₱ 1,500.00 outside La Trinidad, Benguet
  • : Ph₱ 1,000.00 within La Trinidad, Benguet
  • : none refundable
  • 6. Capital Build Up
  • : 2.5% per loan amount

TERM/Mode of Payment/Loan Amount

  • 1. TERM
  • : Minimum of 1 year and Maximum of 5 years
  • 2. Mode of Payments
  • : Monthly - Principal plus interest
  • 3. Loan Amount
  • : Ph₱ 1,000,000.00 Minimum to Ph₱ 5,000,000.00 Maximum per Borrower

Purpose/Requirements/Collateral

  • 1. Large Business e.g. Contractor, Trackings etc.
  • 2. Titled/Tax Declaration lot collateral
  • 2. Member-Borrower must issue a postdated Check
  • 3. Share Capital of Ph₱ 150,000.00 to Ph₱ 250,000.00 depending on the amount of loan
  • 3. Business Permit if any/issue Postdated Check

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.