Business Loan

Eligibility:
All Regular and Associate Members in good credit standing, except corporate members, who are the registered owners (or one of the partners, as the case may be) of the business for which the loan proceeds are to be used. A member in good credit standing is defined as one without record of delinquent/past due loan, has complied with the minimum required balance for CCA and has no dormant Savings Deposit Account.

Features:

Loanable amount is from ₱300T to ₱5M, but should only be equal to the actual amount needed by the borrower, or 70% of Fair Market Value of the property, or the amount applicable to the borrower’s paying capacity, whichever is the lowest.
Loan term: 1 to 5 years

Requirements (click to view the documentary requirements)

GENERAL REQUIREMENTS

The borrower is required to submit a duly accomplished Loan Application Form (LAF) together with other supporting documents such as:

Latest 1x1 ID Picture
AFPSLAI ID and CCA Passbook
Proof of Latest Billing
Latest Community Tax Certificate or borrower and spouse
Marriage Contract
TIN of borrower

For Existing Business

Business/Registration Permit
Income Statement/Financial Statements for the past two (2) years
ITR for the past two (2) years

For New Business

Feasibility Study and Business Plan

For Refinancing

Statement of Account/Proof of Outstanding Loan Balance
Business/Registration Permit
Income Statement/Financial Statements for the past two (2) years
ITR for the past two (2) years

COLLATERAL REQUIREMENTS

(Home Mortgage or Lot only, where the business is located)

Photocopy of OCT/TCT or CCT registered in the borrower’s name
Certified True Copy of Tax Declarations for the lot and its improvements, if any
Photocopy of OCT/TCT or CCT registered in the seller’s name and Certified True Copy of Tax Declarations, if the purpose of loan is ACQUISITION OF AGRICULTURAL/COMMERCIAL PROPERTY
Photocopy of OCT/TCT or CCT issued in the name of the owner, Certified True Copy of Tax Declarations, and Special Power of Attorney, if THIRD PARTY MORTGAGE
Vicinity Map/Location Plan
Building Permit, Floor Plan and Bill of Materials, if purpose is CONSTRUCTION/RENOVATION of commercial space/property or apartment units

SUPPORTING REQUIREMENTS

Active (Payroll Deduction)

Latest original/authenticated copies of payslips for the past three (3) months
Appointment Order/Re-appointment Order/ETAD/Re-enlistment Order
Any one (1) clearance (Unit, JAGO, or Certification of Duty Status or its equivalent)
Certificate of Non-Pending Case for PNP, BFP and BJMP
TR for the past two (2) years
Authority to Deduct (ATD) duly signed by Commanding Officer/Disbursing Officer

Pensioner (Pension Deduction)