Share

COOP Loan Application

HLURB application form for coop loan

Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: HLURB.MPC.Ver.0001.2014

HLURB MULTI-PURPOSE COOPERATIVE
Kalayaan Avenue cor., Mayaman St., Diliman, Quezon City

Please READ instructions, policies, terms & conditions
printed at the back, before accomplishing this form

LOAN APPLICATION AND AGREEMENT
APPLICANT
Last

First

RESIDENCE ADDRESS

M.I.

Tel. No._______________

Application No.
Date
Monthly Salary
P
Other income (RATA, PERA, etc.)
Total
P
Monthly net pay (Based on payslip)

Group/Region __________ Position __________ Tel. No. ________
NATURE OF LOAN
TYPE OF LOAN
Regular

MPL

New

Renewal

LOAN FACTOR
100%
150%
200%
others
(not to exceed 200%)
P 12,000.00
P 24,000.00

Term of Payment
1 Year
1.5 Years
2 Years

P 18,000.00

Less projected monthly loan payment
Total net pay
P

Fixed Deposit
P
OTHER COOP LOAN
Loan
Granted

1 Year
1.5 Years

Outstanding
Balance

Regular Loan
MPL
Petty Cash
Coop Store
Advances
(Pls. Specify)

Remarks:

I hereby apply for a loan in the amount of ___________________________________________ (P ________________ )
in consideration thereof, I hereby promise to pay the full amount of the loan in accordance with the policies, terms and
conditions printed at the back which I have READ and UNDERSTOOD clearly. I have attached to this loan application supporting
documents which I am certifying to be correct and truthful.
Signature of Applicant
TO BE FILLED BY COOPERATIVE

COMPUTATION OF LOAN

Computed by:
Processor
TO BE FILLED BY CREDIT COMMITTEE
Approved

Recommending approval
Manager

Disapproved

Printed Name/Signature/Date

Printed Name/Signature/Date

POLICIES, RULES AND REGULATIONS
1. Any member, who defaults in the regular amortizations of loans, may be granted a new loan provided he/she paid
50% of unpaid loan and no arrears in any other loans.
2. In granting the loan, the member’s paying capacity shall be strictly considered.
3. Payment of loans shall be strictly in accordance with the terms of payment as agreed upon, and as provided for in
the constitution, by-laws and policies promulgated by the HLURB Multi-Purpose Cooperative Board of Directors.
4. Failure to pay any monthly amortization shall make the amount immediately due and demandable.
5. At least two (2) co-makers who are members in good standing are required.

TERMS AND CONDITIONS
1. MODE OF PAYMENT: Payment of the loan shall be made in accordance with the terms of payment opted for and
the first instalment shall be due the month following every month thereafter until the loan is fully paid.
2. INTEREST: The interest of loan shall be 10% annually.
3. PENALTY/SURCHARGE: Any instalment if not paid when due shall bear an interest of 0.1% per month based on
current amount due.
4. FEES: A service fee of 2% shall be charged for each loan secured deductible in advance.
5. AUTHORIZATION: The borrower hereby authorizes HLURB Cashier to collect and deduct from his/her salary,
bonuses, allowances and other benefits and/or the HLURB Multi-Purpose Cooperative Treasurer to collect and
deduct from fixed deposit and dividends the monthly amortization for the loan obligation and the balance of the
obligation upon his/her continuous leave of absence, retirement/resignation, death or separation from
employment.
The borrower hereby authorizes HLURB Cashier to collect and deduct from his/her salary, bonuses, allowances
and other benefits any unpaid due amount and until full payment thereof.

Conforme:
________________________________
Signature of borrower
CO-MAKERS’ OBLIGATION AND AUTHORIZATION
We, the undersigned co-makers, hereby agree with all the terms and conditions of this loan agreement and
voluntarily bind ourselves to be jointly and severally liable with the borrower should he/she fails to pay the loan
subject of this agreement. In order to fulfil this obligation, we hereby authorize the HLURB Cashier to collect and
deduct from his/her salary, bonuses, allowances and other benefits and/or HLURB Multi-Purpose Cooperative
Treasurer to collect and deduct from our dividend payments of the unpaid obligation including interest, penalties
and surcharges.

Conforme:

__________________________________
Name and Signature of Co-Maker

__________________________________
Name and Signature of Co-Maker

__________________________________
Home Address and Tel. No.

__________________________________
Home Address and Tel. No.

HLURB.MPC.Ver.0001.2014
 
Page of
Share