Short Term Loan
We understand that sometimes short-term financial flexibility is needed. That’s why we offer an optional short-term loan exclusively for our existing members who have a free portion of their share capital. This loan is designed to provide temporary financial support, giving you the ability to access the funds you need quickly and without the burden of long-term commitments.
Loan Requirements
✅ At least 10% of the loan amount is for new members.
✅ Maximum term is 12 months
✅ 12% per annum
✅ Maximum loanable amount is ₱100,000
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What is the free portion of share capital?
The free portion refers to the amount of share capital that is not tied to any specific obligations or restrictions and is available for loan purposes. Members must have a free portion to qualify for the loan.
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Is collateral required for the loan?
In most cases, the loan is secured against the free portion of your share capital, so additional collateral may not be required.
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Can I pay off the loan early?
Yes, early repayment is allowed without penalties.
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Is this loan option available to new members?
Yes, this loan is available to existing members who have already contributed share capital to the cooperative.
