COMMUNITY DEVELOPMENT LOAN

Loans are provided to communities with economic potential. The availability of raw materials and the demand for the potential product will be evaluated. The “Adopt-a-Barangay” program aims to develop programs that will directly benefit the communities. Potential clients are those that cannot qualify to avail of current RPMI loan services.

Loan use - Community enterprise

Loan package-

  • Loan
  • Capital Build-Up
  • Php5,000 CAP Benefits
  • Livelihood support training

Loan size

  • Dependent on the project

Loan Term

  • Flexible - Maximum of one (1) year

Mode of Payment

  • monthly, quarterly or one-time (Dependent on the project)

Minimum Amount

  • Dependent on project

Maximum Amount

  • Dependent on project

Interest

  • 1.5% monthly straight line

Charges

  • Pre-deducted from loan
    • Loan Redemption Fund - 1.5%
    • Loan Service Fee - 1%

Qualifications

  • 18 to 70 years old
  • Potential clients in hard to reach areas with limited services
  • Permanent resident individual willing to be involved in a community enterprise project.
  • Identified by RPMI based on the feasibility study provided by the Research and Development Department.
  • Availability of natural resources or raw materials that can be processed into consumer goods

Requirements

  • Barangay clearance - for the current year
  • Picture - 1 copy 1.5 x 1.5 colored ID picture per member
  • Project proposal / Business Plan