Summary of SOEMCOs Loan Products

Features BUKAS 1-2-3 ASENSO ALIMA

(Barug Ug Kayud Aron (Assurance to (Alagad sa Ikaayo sa
molambo ang Surigao) Entrepreneurs Stability Pamilya)
and Outgrowth)

TARGET Enterprising poor and micro- Graduating or the near- Household originators
CLIENTS entrepreneurs with combined bankable micro- with fixed sources of
household and business assets entrepreneurs with income coming from
not exceeding P1.5M business assets above employment, pensions,
Farmers, fisher folks, vendors, P1.5M and with honorarium or subsidy.
service providers, petty registered business
producers, household-based entity.
producers
LOAN Start-up capital and/or Additional revolving Providential uses but
PURPOSE additional working capital capital, expansion of mainly to bridge
existing business and household budget gaps
business asset and relief to the
acquisition temporary financial
stress
LOAN P1,000 to P200,000 P50,001 to P1,000,000 P5,000 to P200,000
AMOUNT as a credit line facility as term loan
BUKAS 1 1 month
TERM 6 to 18 months 6 to 24 months
BUKAS 2-3 1 to 6 months
BUKAS 1 - Daily
REPAYMENT Semi-Monthly and Semi-monthly and
BUKAS 2 & 3 Weekly or every
FREQUENCY monthly monthly
two weeks
Co-maker/s & personal
Co-maker/s and chattel Co-maker, chattel and
SECURITY capital (salary, CBU &
mortgage real estate mortgage
savings)
BUKAS 1- 3% per month
computed on a straight line
method
2% and 2.5% per
BUKAS 2- 6% per month; only 2% per month
month for a 12 and 24
INTERESTS interest to be paid weekly and computed on a straight
months term,
principal at the end of term line method
respectively
BUKAS 3- 12% per month
computed based on the
number of days and to be paid
Features BUKAS 1-2-3 ASENSO ALIMA
(Barug Ug Kayud Aron (Assurance to (Alagad sa Ikaayo sa
molambo ang Surigao) Entrepreneurs Stability Pamilya)
and Outgrowth)

within the term of 1 month

BUKAS 1&2 - 5% of the
loan 5% of the loan amount
5% of the loan amount,
SERVICE FEES amount, deducted for 1 year and 6% for
deducted
BUKAS 3 No service fee above 1 year; deducted
Plus 3% per day penalty of Plus 3% per day penalty Plus 3% per day
the
of the principal amount penalty of the principal
principal amount due on
PENALTIES due on missed amount due on missed
missed amortization and
5%
amortization and 5% amortization and 5%
after maturity
after maturity after maturity
SOEMCO shirt for every SOEMCO shirt for every SOEMCO shirt for every
loan
loan full payment for loan full payment for
full payment for loan
above P
loan above P 5,000 with loan above P 5,000
5,000 with no arrears.
no arrears. with no arrears.
A rebate of 5% of the
interest
paid on the previous loan if
no A rebate of 5% of the A rebate of 5% of the
missed payment and interest paid on the interest paid on the
automatically credited to previous loan if no previous loan if no
INCENTIVES
his/her savings account
(PASA missed payment and missed payment and
Savings) automatically credited automatically credited
Can avail the ASENSO
Loan to his/her savings to his/her savings
with a semi or monthly account (PASA Savings) account (PASA Savings)
amortization schedule
Access to PLATINUM Loan Access to PLATINUM Access to PLATINUM
for
Loan for zero arrears of Loan for zero arrears of
zero arrears of the last 2
cycles
the last 2 cycles the last 2 cycles
Decreased loan size next
loan Decreased loan size next Decreased loan size
DISINCENTIVES availment loan availment next loan availment