Loanable Amount
For regular SEAMCO members
- First loan = 25,000
- 2nd loan = 50,000
- 3rd loan = 75,000
- 4th loan = 100,000
- Minimum of P 100T
- Above P100T subject to BOD Approval (collateral required)
Terms of Payment
6months
12 months
Interest Rate
1.6 (6 months)
2.0 (12months)
(Diminishing
Fixed)
Service Charge
2%
Requirements
- Member in good standing
- Fully paid the subscribe capital
- Pre signed Post Dated Checks
- Loan renewal can be made halfway thru loan amortization and/ or anniversary date whichever comes first
(Above P100T)
- 1 month residency
- Loans should be 100% secured
- Acceptable collaterals are real estate and chattel. This would involve payment of documentary stamp and notarial fee to be deducted from the proceeds.
- Borrower shall execute agreement for notarial foreclosure only in case of default in payment where said action is initiated by the cooperative
- Other conditions
- Pre signed Post Dated Checks
- Subject to availability of funds
- Co-maker
Loanable Amount
- P 300T – P 500T
Terms of Payment
12 months
Interest Rate
2.0 (12 months)
(Diminishing)
Service Charge
2%
Requirements
- 1 month residency
- Member in good standing
- Full paid the subscribe capital
- Submission of proof of business such as DTI and Mayor’s Permit and subject to background verification by Credit Committee.
- Loans should be 100% secured
- Acceptable collaterals are real estate and chattel. This would involve payment of documentary stamp and notarial fee to be deducted from the proceeds.
- Borrower shall execute agreement for notarial foreclosure only in case of default in payment where said action is initiated by the cooperative
- Other conditions
- Pre signed Post Dated Checks
- Subject to availability of funds
- Co-maker or guarantor
- Must have a feasibility study
Loanable Amount
For regular and associate SEAMCO members
- Maximum of 20T
Terms of Payment
6 monnths
12 months
Interest Rate
1.6 (6 months)
2.0 (12months)
(Diminishing)
Service Charge
2%
Requirements
- 1 month residency
- Member in good standing
- Full paid the subscribe capital
- Loan renewal can be made halfway thru loan amortization and/ or anniversary date whichever comes first
- Co-maker or guarantor
Loanable Amount
- P 20T – P 50T
Terms of Payment
6 monnths
12 months
Interest Rate
1.6 (6 months)
2.0 (12months)
(Diminishing)
Service Charge
2%
Requirements
- 1 month residency
- Member in good standing
- Full paid the subscribe capital
- Loan renewal can be made halfway thru loan amortization and/ or anniversary date whichever comes first
- Co-maker or guarantor