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)

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