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PECCI
Pangkabuhayan, Loan
I.
APPLICANTS QUALIFICATIONS
Application
for Pangkabuhayan Loan shall be open to all payroll
members of good standing who are qualified and passes
the criteria set by the Pangkabuhayan Loan Committee
based on borrowers capacity and collateral requirements.
II.
PURPOSE OF LOAN
Pangkabuhayan
Loan shall be granted for productive purposes only such
as small scale industries, livelihood programs and
income generating businesses both new and existing.
III.
AMOUNT OF LOAN
The
maximum loanable shall be P150,000.00 and minimum of
P60,000.00 but in no case shall the loan be more than
the appraised value of the collateral for the purpose.
IV.
LOAN PERIOD
The
period of the loan shall not exceed 24 months from the
date of release.
V.
MODE OF PAYMENT
Monthly
post-dated cheques.
VI.
INTEREST RATE
The loan shall bear an initial interest rate of
twelve percent (12%) per annum from the date of release
of loan.
VII.
OTHER CHARGES
All
loan shall be charged the normal fees and expenses in
accordance with schedules provided by the law, such as,
but not limited, to :
a.
Service Charge – P3.00 for every P100.00
b.
Notarial and Documentation Expenses
c.
Other incidental expenses (if any)
VIII.
REQUIREMENT FROM MEMBER / APPLICANT
Applications
for loan shall be accompanied by the following
supporting documents/papers:
a.
Registration Certificate from SEC or Licenses or
Mayor’s Permit and other government agency
b.
Copy of the title/ownership of collateral
(original copy required upon approval)
c.
The applicant shall fill-up Loan Agreement with
six (6) co-makers
d.
Projected Feasibility Study
e.
Projected Cash Flow for three (3) years
f.
Projected Financial Statement for three (3) years
g.
Two (2) years
Financial Statement for existing business
For more details, call Mr. Danny Barrientos, PECCI
Office Manager at 892-6111 local 119.
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