Lending/Loan Services

Lending/Loan Services

BMPC provides its members with loan products bearing low interest rates in response to their needs. Through this service, the coop aims to establish a life-time relationship with its members.

Loaning is a privilege rather than a right.

One must be a Member in Good Standing to qualify.

BMPC adopted capacity-based lending wherein any loan shall be granted based on a thorough evaluation of the 5 C’s of the member, as Character,Capacity to Pay,Capital,Conditions, and Collateral/Co-maker

LOAN WINDOWS

Regular Loans

1) Multi-purpose Loan– a loan to finance varied purposes whether providential or productive.

2) Barbaza Agricultural Credit Assistance Program (BACAP) – A loan to finance agricultural related livelihood projects with technical assistance.

3) Micro Enterprise Development Assistance Program (MEDAP) – A loan to finance micro-business like trading, vending, service, processing and manufacturing with technical assistance.

4) Salary Loan – For salaried members whose employer has executed a Memorandum of Agreement for automatic salary deduction. ATM card holders can avail this loan facility provided they shall assign their ATM card with BMPC through Deed of Assignment and Irrevocable Special Power of Attorney.

Special Loans

1) FAXCOM Loan (Fast and Excellent Coop Management)– loans for members who are classified as Diamond, Gold and Silver with co-makers of the same class or higher which can be released outright.

2) Short-Term Loan (STL)– privilege loan provided for members in good standing in times of emergency and immediate needs.

a. Petty Cash Loan – for liquidity problem or urgent need.
b. Emergency Loan – for emergency cases like hospitalization, medical expenses due to accident, unpredictable repair or travel.

Members who availed of petty cash loan will no longer avail of emergency loan or vice-versa.

3) Honorarium Loan – Loans extended to qualified elected or appointed Barangay officials with Memorandum of Agreement.

4) Bonus Loan– loan provided to salaried and pensioner members during midyear and year-end. In the case of LGU, only with ATM assignments and Deed of Undertaking by the Accountant and Disbursing Officer.

5) Enhance Educational Loan (EED Loan)– loan provided to members in good standing to finance the educational needs such as but not limited to payment of tuition and miscellaneous fees, books and uniform. All those amount will be paid or collected through Statement of Account by the school in all levels.

6) Pension Loan– loan provided to pensioner with ATM assignment with two co-makers who are their beneficiaries or immediate member of the family.

7) Jewelry Loan – loan provided to member who has gold jewelry items of at least 14K specification.

8) Rice Loan– loan granted to member in good standing which can be availed in the form of rice for consumption available at Coop Office of added charges on top of the cost of rice.

9) Calamity Loan Assistance Program (CLAP)– a loan granted to regular members with no delinquent accounts affected by calamities for the purpose of house/building construction or repair, and purchase or repair of facilities, machineries and equipment. This can be availed within ninety (90) days from the date of incidence after an ocular inspection has been conducted by the Loan staff.

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