PANABO MULTI-PURPOSE COOPERATIVE

Where people invest in people…

MEMBERS’ LOAN ELIGIBILITY

A. New Loan Application

A.1 For Loan Types:

  • PERSONAL LOAN
  • UNSECURED ENTERPRISE STARTER LOAN
  • CASH ASSISTANCE LOAN
  • EMERGENCY LOAN

New or first-time borrowers shall meet the following set requirements:

Borrower’s CategoryShare Capital 
(growth from balance upon membership)
Savings Deposits (Regular Savings, MPSP, Time Deposit)(growth from balance upon membership) Other Conditions Loanable Amount
Type AGrowth of 60% and aboveGrowth of 60% and aboveWith monthly deposits for at least six (6) monthsComplied with the Cs of creditUp to 200% of share capital and savings deposit balance
Type BGrowth of 30%-59%Growth of 30%-59%With monthly deposits for at least six (6) monthsComplied with the Cs of credit Up to 180% of share capital and savings deposit balance
Type C Growth of 10%-29%Growth of 10%-29%With monthly deposits for at least six (6) monthsComplied with the Cs of credit Up to 150% of Share capital and savings deposit balance
Type D Growth below 10%Growth below 10%With monthly deposits for at least six (6) monthsComplied with the Cs of credit Up to 100% of share capital and savings deposit balance

Loanable amount is the maximum amount to be granted to the member-borrower, which could be lower down if one or more of the conditions are not met.

A.2 For Loan Types:

  • Personal Loan with Salary and Allotment ATM card
  • Pension Loan
  • Barangay Official Loan Assistance
  • Group Loan
  • Special Employees Loan (Government and Private)
Loanable Amount Other Conditions
Up to 60% of monthly salary/pension/honorarium proceedsComplied with the Cs of creditMonthly deposit of at least P100 for savings and P100 for share capital during monthly loan repayments (after loan release)

B. LOAN RENEWAL

If member-borrowers are still not classified based on the Members’ Classification Policy, loan renewals for all loan types are subject to the following minimum requirements:

QualificationsLoan Entitlement
1.Not delinquent in the previous loan (account does not fall 31-over 365 days in the aging of receivable)
2.Share Capital growth of at least 30% from the membership date from monthly build-up (retention from loan proceeds not included)
3.Savings Growth of at least 30% from the membership date from the monthly deposit (retention from loan proceeds not included) 
Up to 50% increase from previous loan, subject to assessment based on Cs of credit.