MICRO, SMALL & MEDIUM ENTERPRISES LOANS
Business / Negosyo Loan
Loan Terms and Conditions
Purpose of Loan
- Additional working capital requirements
- Acquisition of machineries and equipment
- Project/ construction financing
Loan Processing Requirements
- Application Forms duly filled-out and signed by the applicant/s
- 2 x 2 ID Picture
- 2 Valid IDs
- Community Tax Certificate
- Mayor’s or Business Permit (if applicable)
- Financial Statements or Income Tax Return (if applicable)
- Bank Statement/ Passbook for the past three (3) months
- Certificate of Employment (if applicable)
- Proof of Billing
- Photocopy of Title/s
- REM collateral with proper documentation
- Tax Declarations, Clearance and Tax Receipt
- Lot plan with vicinity map
- MARO/ BARC
- Proof of ownership of other properties
- Other documents as may be required:
- Deed of undertaking
- Affidavit of non-tenancy of farm lot
- Affidavit of consent to mortgage family home for residential lot
- Special power of attorney (if applicable)
- Waiver of rights
Eligibility Criteria
- A Filipino citizen
- 21-65 Years Old
- Within the present serving area
- Not engaged in illegal activities
- Must have a good credit record with banks and other lending institutions
- With stable source of income or business operating for the last 3 years
- With acceptable collateral
- Not an accommodation
- Must not been turned down by another branch
Standard Business Loan Application Forms below:
Alalay Sa Ating Pag-unlad Loan (ASAP)
Loan Terms and Conditions
Purpose of Loan
- Alalay Sa Ating Pag-Unlad (ASAP) Loan is a market-driven product which aims to provide affordable credit for individual micro entrepreneur to help them expand their present business activities and increase their income
- A product that offers competitive loan to individual entrepreneurs that can also offers insurance and savings.
Loan Processing Requirements
- Loan Application Form
- Co-Maker Statement
- 4 pcs. 2 X 2 pictures, Signature Card, Customer Information Form (CIF)
- Picture of Business and Assets
- One (1) valid ID (any government issued ID); photo copy
- Mayor’s Permit or Barangay’s Permit
- Barangay Clearance (for new applicants only)
- DTI/BFAD Certification (if available)
- Stall Rights/Lease Agreement (if available)
- Utility bills (if available)
- Bank Statement of Savings Deposit (if any)
- Loan Card (if available)
Eligibility Criteria
- Age is between 21-63 years old
- Must have existing business for at least 1 year
- For highly urbanized area, business must have been in operation for at least 3 years
- Permanent residence for at least 1 year within the area where the business is located
- At least 3 years if the residence is outside the area of business location
- Business must have a daily or weekly income
Loan Rates
Regular Interest Rate : 2.5% to 3.0% per month (Add-on)
ASENSO Plus Program
Loan Terms and Conditions
Purpose of Loan
- ASENSO PLUS Program is a group loan methodology but individual liability that provides credit, savings and micro-insurance products to micro entrepreneurs that tends to develop self-help mentality and self-employment capacities of individual member.
- This a microfinance product focusing in providing access to individual loan product especially for the marginalized micro entrepreneurs, who lack traditional collateral or credit history.
Loan Processing Requirements
- Loan Application Form
- Five (5) pieces of 2×2 picture (Signature Card, Client Information Form)
- 3R or 5R size business picture
- Barangay Clearance ( For new client only)
- One (1) valid ID (photo copy)
Eligibility Criteria
- A. Applicant / borrower
- Female and/or Male with at least 18 to 65 years of age and in good health condition
- With existing business for at least one (1) year, engage in Retailing, Trading, Services, Manufacturing
- Permanent resident in the Barangay of at least two (2) years
- Willingness to attend weekly Center MeetingMust have completed the two days ASENSO plus Member/s Training (AMT)
- Passed the Member/s Recognition Test (MRT)
- Co-borrowers from the Members of the Family
- Witness from the Members.
- Asset size of Micro, Small and Medium Enterprises (MSMEs) in which the asset size should not exceed up to Php 3,000,000.00
- B. Center Eligibility Criteria
- Center must be comprised of a minimum of five (5) members and a maximum of thirty (30) members.
- ASENSO plus Members Training (AMT) completed and passes in Membership Recognition Test (MRT) by all members
- Members must live in the same neighborhood / nearby Barangays.
Loan Rates
3% per month (amortized)