Productivity Loan

GUIDELINES:

1. Members in good standing are entitled to avail of this loan.

2. Loanable Amount  - x 5 of the share capital or maximum of 500,000.00

3. Terms of payment – maximum of  five (5) years

4. Interest Rate :

   • 1     year   –   8%
   • 2 -3 years – 10%
   • 4     years – 12%
   • 5     years – 14%

5. Service fee                            – Two (2%) percent pre-deducted

6. Subscription Receivable – Two (2%) percent pre-deducted

7. Requirements:
   • Feasibility study
   • Barangay clearance and/or Mayor’s permit           
   • DTI registration
   • Proof of billing
   • Latest month-end pay slip
   • Net take home pay – Php 2,000.00

8. Co-maker:

   • NO CO-MAKER             =   If the amount of loan is less than 20,000.00 or equal to CBU.
   • ONE (1) CO-MAKER    =    If the amount of loan is more than 20,000.00 to 150,000.00.
   • TWO (2) CO-MAKERS = If the amount of loan is more than 150,000.00

9. In the absence of one co-maker, the borrower is required to submit collateral:

   • LandTitle within Metro Manila Area or Region IV only
   • Car Registration – with model of not more than 3 years

10. Re-loan period:

    • Any given time (effective July 1, 2011).