Microfinance Loans

PROYEKTO MA-ASENSO LOAN

Proyekto Ma-asenso III (PM3) is Katipunan Bank’s microfinance loan product for individuals to provide additional capital for their businesses. It is designed as a livelihood loan suitable for micro-entrepreneurs whose business interests range from fishing, weaving, dressmaking, food processing, baking, rug- making and a host of other small time businesses. This microfinance program was inspired by the Association for Social Advancement (ASA) methodology, wherein loans are granted to groups but with individual liability. Katipunan Bank is proud to support our brethren as they pursue entrepreneurial ventures. Here at Katipunan Bank, we believe that big realities start with small- time dreams.

 

TARGET MARKET

The program is open to those socio-economically challenged individuals who are in need of additional working capital to their businesses or to finance other household income-generating activities.

INTEREST RATE

Avail for as LOW as 1.9% per month, diminishing!

CLIENT ELIGIBILITY CRITERIA

  • Open to all individuals who are found to be credit worthy.
  • Be of legal age ranging 18 to 75 years old, exit age 75 and 6 mos., in good health and has capacity for livelihood.
  • At least 2 years living within the priority area and with previous residence record, if renting at least 2 years residing in the area.
  • Has no existing past due account with Katipunan Bank.
  • With existing business or income generating project operating for at least one (1) year.
  • Willing to accept and adopt policies and procedures of Katipunan Bank and be open to any future changes.
  • Household has no other business loan with Katipunan Bank.

REQUIREMENTS

  • 1 Valid ID/ Barangay Certification with picture (with 3 specimen signatures)
  • Community Tax Certificate (recent)
  • 2x2 Picture (1 pc)
  • 1x1 Picture (3 pcs)

 

ASENSO LOAN

Asenso Loan is an individual microfinance loan extended to individuals who want to ensure their capital sufficiency for their micro enterprises. It focuses on microenterprises that generate regular income and on microenterprise operators who currently depend on loans from informal moneylenders for working capital. Excellent members of Proyekto Ma-asenso are also promoted to avail this credit facility.

 

TARGET MARKET

Open to all entrepreneurs, men and women who are in need of additional working capital to fund their businesses. Open to those clients that cannot be catered to by our existing Proyekto Ma-asenso Program especially those that cannot attend center meetings due to the nature of his/ her business and fund requirements is also higher than the Proyekto Ma-asenso Program.

INTEREST RATE

Avail for as LOW as 1.9% per month, diminishing!

CLIENT ELIGIBILITY CRITERIA

  • Micro-entrepreneurs who are found to be credit worthy.
  • With existing business operating for at least one (1) year at the time of the application.
  • At least 18 to 69 years old and where age does not exceed 70 upon loan maturity for new client.
  • At least 18 to 74 years old and where age does not exceed 75 upon loan maturity for old client.
  • Must be in good health.
  • Living at the present address within the branch area of operation for at least two (2) years and with previous residence record.
  • With no existing past due accounts with other branches of Katipunan Bank and with other creditors in the community.
  • Willing to deposit for Contractual Savings and be a member of the Bank’s Micro-insurance program.
  • Willing to conform to the existing policies and procedures of the bank including future changes while still enrolled with the program.
  • Household members have no other business loan with Katipunan Bank.
  • The Microfinance Plus Loan may be availed, provided that the client had previously availed at least two (2) loan cycles in the amount ranging from P50,000.00 to P150,000.00 range and demonstrate success of the business, its increasing credit demand and subsequent increased capacity to pay.

REQUIREMENTS

  • Photocopy of one (1) Valid ID/ Barangay Certification with picture (with 3 specimen signatures)
  • 2 x 2 recent colored picture (New Client - 3 Pcs; Old Client - 1 Pc)
  • Up to P150,000.00 - Barangay Business Permit or Certification
  • P150,001 and above - Municipal or City Business Permit
  • Community Tax Certificate (recent)
  • Stall holder lease agreement if any
  • Certificate of Ownership/ TCT, OCT, Tax Declaration (if applicable)
  • Picture of business and property covered by the Security Agreement -  at least 2 (if applicable)
  • Latest Billing/ Official Receipt (electric, water, telephone).