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Thursday, October 8, 2009

Types of Loan - FICCO

With certain limitations, a member may avail of several loans at the same time depending on his capacity to pay, the collateral he can offer, and his classification. A member’s capacity to pay and the collateral he offer is subject to proper evaluation by the management and the Credit Committee. The classification is based on his track record as a member.

On the assumption that a member has the capacity to pay and can offer appropriate collateral, he can avail of the following loans in accordance with his classification, thus:

A. For Class A1+, A1 & A;

1. Regular Loans;
a. Productive Loan
b. Provident Loan
2. Regular Agricultural Loans;
a. Rice and Corn Crop Loan
b. Sugar Cane Crop Loan
c. Cassava Crop Loan
d. Other Crop Loan
e. Agricultural Lot Purchase
3. Commercial Loans;
a. Small Enterprise Assistance Loan
b. Commercial Credit Line
c. Vendors-Drivers Assistance Loan
4. Financing Loans;
a. Appliance Loan
b. Motor Vehicle Loan
c. Motorcycle Loan
d. Cell phone Loan
5. Travel;
a. Travel & Tours Loan
b. Special Travel & Tour Loan
6. Housing;
a. Housing Assistance Loan
b. FICCO Ville Lot Purchase
c. House Construction Loan
7. Commodity Loans;
a. Rice Loan
b. SM Gift Check Loan
c. Gaisano Gift Check Loan
d. Ororama Gift Check Loan
8. Medical Loans;
a. Medical Loan
b. Optical Loan
c. Dental Loan
d. Newborn Screen Test
9. Educational Loan
10. Salary Loan
11. Petty Cash Loan
12. Jewelry
13. Calamity
14. Memorial Lot &/or Services Loan

B. For Class B (re-loan);

1. Regular Loan (Productive or Provident) or
Regular Agricultural Loan or
TTL or
2. Petty Cash Loan
3. Rice Loan
4. Calamity Loan
5. Jewelry Loan
6. Medical Loan
7. Newborn Screen Test

C. For Class B (First-Time-To-Borrow), C & D;

1. Regular Loan (Productive or Provident) or
Regular Agricultural Loan or
Loan Against Deposits
2. Petty Cash Loan
3. Rice Loan
4. Jewelry Loan
5. Calamity Loan
6. Loan Against Time Deposit
7. Loan Against IS/RS

D. For Class E and members within Probationary Period;

1. Loan Against Deposit or
Rice Loan
2. Loan Against Time Deposit
3. Loan Against IS/RS


Anonymous said...

interest rates?

Anonymous said...

hi, sir toti, can you help me in my thesis? i need a thesis statement related to cooperatives. Is there any interesting topic about cooperatives that i can study thanks

Auto Title Loans said...

Made it clearer. Before I really had no idea of what FICCO is all about but often heard the word from my relatives... glad to have come across your blog...

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Anonymous said...

hi, i am a member of your cooperative and i have already 30thousand in your bank, I would just like to ask if I could have a regular loan amounting to 20thousand pesos only?

Anonymous said...

gud day!
I am a member of a cooperative in our barangay, for some reasons I wanted to pull-out my share, unfortunately according to one of the board members I am not allowed to do it and my only option is to sell my share to another person.Is that the real procedure? I was thinking how can I do that if I don't even know the market value of that share? and how can I sell something that is only known to few.Do I have other options? thank you and appreciate your time..

Toti said...

A class B regular member can borrow 2 times his deposit provided it will not be more than 50T for first time borrower.

Thus, base on your question and considering other factors constant you can borrow the amount.

PLease see also your branch loans department

Anonymous said...

pareho ra ang rules,interest,requirements sa loan against savings&share deposit ug sa loan against time deposit?

Anonymous said...

im a first time borrower and i pay my loan.monthly interest payments,loan payments and deposits for first 3 month but i cant see the record of my deposit in passbook saving and share deposit ,only the interest and month amount.please explain me.thanks and god bless.