| Loan Product |
Bayanihan Loan |
| Description |
Additional working capital by the farmer-member of which their agricultural land is registered with RSBSA. Available for regular members of the cooperative with at least 3 months’ membership with the cooperative and have patronized the business of the cooperative within the period. |
| Interest Rate |
6% per annum |
| Terms |
1 to 12 Months |
| Qualifications |
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1. Must be 18 to 60 years old. |
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2. Must have passed the 6 C’s of Credit: Capital, Condition, Capacity, Collateral, Character and Cash Flow. |
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3. Must have a good credit reputation in the community or barangay and other financial institutions. |
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4. Must have an existing business for at least one year prior to loan application. The borrower including family members who are co-makers must have a stable and reliable source of income to ensure that the loan will be sufficiently paid at maturity date. |
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5. Must have a clear loan purpose. The borrower must use the loan according to the purpose or intention he planned to engage. The line of expertise whom the borrower had an experience and knowledge will be considered in the loan approval. |
| Requirements |
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1. 2 pcs. 2x2 ID pictures each (husband and wife) |
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2. Photocopies of at least 2 valid ID’s each (husband and wife) |
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3. Sketch of permanent address |
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4. Barangay Clearance |
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5. Business permit(if with registered Business) |
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6. CI/BI Fee |
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7. Other Pertinent documents if with collateral |
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