Loans Services
In line with the new strategic directions and business diversification plans of SGSMPC, the Company is offering Loan Services.
Terms and Conditions
- The applicant must be a member of SGS-MPC.
- The member must have a sub-share not less than Php 4,000.
- Computed salary must not be less than Php 2,000 after the deduction of loan
- Loan application of members with two pending loans will be denied.
- With no record of violating any provisions and policies set by the Cooperative, Cooperative Development Authority and Board of Directors.
Services offered
Application for Personal loan by a member with two (2) existing loans of any type, prior to the loan application shall not be allowed or shall be disapproved.
Requirements
> Copy of one (1) month latest pay slip and SGSMPC ID or Government ID
> SGSMPC Forms with complete fill up and signature
Loan Ceiling
> PhP 500 up to PhP 15,000 - ssubject to status of subshares, net take-home pay, and status of existing loans.
Interest
> 3.00% per month
Service Fee
> 4.0% of principal
Term of Payment
> 1 month to maximum of 8 months
Application for HRL by a member with two (2) existing loans of any type, prior to the loan application, shall not be allowed or shall be disapproved.
Requirements
> Copy of list of supplies/equipment/tools need to buy with signature of store
> Copy of one (1) month latest pay slip and SGSMPC ID or Government ID
> SGSMPC Forms with complete fill up and signature
Loan Ceiling
> PhP 1,000 up to PhP 20,000 - subject to status of subshares and status of existing loans.
Interest
> 3.00% per month
Service Fee
> 4.0% of principal
Term of Payment
> Maximum of 6 months
Application for BL by a member with two (2) existing loans of any type, prior to the loan application, shall not be allowed or shall be disapproved.
Savings Withdrawal shall be allowed only after full payment of BL.
Requirements
> Copy of list of supplies/equipment/tools need to put up or starting a business
> Copy of one (1) month latest pay slip and SGSMPC ID or Government ID
> SGSMPC Forms with complete fill up and signature
Loan Ceiling
> 3x of present savings (max. of PhP50,000 only)
Interest
> 3.00% per month
Service Fee
> 4.0% of principal
Term of Payment
> Maximum of 24 months
For emergency loans intended to cover/support expenses for hospitalization, medical check-up, or prescription medicines of parents or siblings, loan service applicant must present a medical certificate issued by the attending physician and/or medical prescriptions – supporting documents must be dated not later than one (1) week after the actual check-up and/or hospital admission happened and must be filed at SGSMPC not later than one (1) week after the incident.
Application for emergency loan will not be accepted without the corresponding supporting documents stated. Emergency loan application intended for reasons other than those stated above (especially for cases not deemed as emergency), is strictly prohibited.
Loan Ceiling
> PhP 500 up to PhP 10,000 - subject to verification (case-to-case basis)
Interest
> 3.00% per month
Service Fee
> No service fee
Term of Payment
> Maximum of 4 months
Application for APL by a member with two (2) existing loans of any type, prior to the loan application, shall not be allowed or shall be disapproved.
Requirements
> Copy of quotation or proof of billing for buying Appliances.
> Copy of one (1) month latest pay slip and SGSMPC ID or Government ID
> SGSMPC Forms with complete fill up and signature
Loan Ceiling
> based on the appliances bought (max of PhP 15,000) – subject to status of subshares and status of existing loans.
Interest
> 3.00% per month
Service Fee
> 4.00% of principal
Term of Payment
> Maximum of 1 year
Application for EDL by a member with two (2) existing loans of any type, prior to the loan application, shall not be allowed or shall be disapproved.
Requirements
> Copy of school registration form with updated school year, copy of receipt of school fees signed by school representative, copy of list of school supplies needed
> Copy of one (1) month latest pay slip and SGSMPC ID or Government ID
> SGSMPC Forms with complete fill up and signature
Loan Ceiling
> PhP 1,000 - PhP 10,000 – subject to status of subshares and status of existing loans.
Interest
> 3.00% per month
Service Fee
> 4.00% of principal
Term of Payment
> Maximum of 5 months
Philippine Cooperative Development
CDA REGISTRATION NO. : 9520-04003073
Dun & Bradstreet Philippines, Inc.
D U N S ® NO. : 72-265-9505
Department of Labor and Employment
DOLE REGISTRATION NO. : ROIVA-LPO-DO174-0822-042-R
Bureau of Internal Revenue
TIN Number : 241-024-754-000