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

  1. Micro-entrepreneurs who are found to be credit worthy.
  2. With existing business operating for at least one (1) year at the time of the application.
  3. At least 18 to 69 years old and where age does not exceed 70 upon loan maturity for new client.
  4. At least 18 to 74 years old and where age does not exceed 75 upon loan maturity for old client.
  5. Must be in good health.
  6. Living at the present address within the branch area of operation for at least two (2) years and with previous residence record.
  7. With no existing past due accounts with other branches of Katipunan Bank and with other creditors in the community.
  8. Willing to deposit for Contractual Savings and be a member of the Bank’s Micro-insurance program.
  9. Willing to conform to the existing policies and procedures of the bank including future changes while still enrolled with the program.
  10. Household members have no other business loan with Katipunan Bank.
  11. 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

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