Micro Loans are offered to small entrepreneurs in urban and rural areas for working capital, housing and similar needs. Usual clientele are from small and medium market segment including farmers, artisans, small traders and retailers craftsmen, and other self-employed individuals including the informal sector with the end view of providing equitable distribution of economic opportunities and prospects for income.
Basic Eligibility Criteria / Client Profile:
Loan Type | Microfinance Loan |
Purpose | Small to Medium scale Entrepreneurs |
Amount | Up to P300,000.00 |
Payment Scale | Daily, Weekly, or Semi-Monthly |
Interest Rate | 48% to 54% Diminishing, Annually |
Effective Int. Rate (EIR) | 60.10% to 69.59% |
Service Charge | 1% to 3% depending on the loan cycle and payment history |
Insurance | None |
Collateral | No |