First Country Bank

These are loans to individual micro-entrepreneurs who have "graduated" from our Microfinance Program for Women or who qualify for bigger loans based on their creditworthiness. This program is in partnership with the National Livelihood Support Program.

For:
Micro- and small entrepreneurs who have been in business for at least two years and need bigger loans to finance their business.

Eligibility:

1. Individual between 18-35 years old
2. Has a micro or small business for at least 1 year
3. Preferably completed all cycles of group microfinance program
4. Minimum monthly income of P10,000
   

Benefits:

• Affordable interest
  
• Higher loanable amount
  
• Quick approval process
  
• Individual collection
• No group or center fund
  

Rate:
2% per month

Fees:
Service charge
Notarial fee
Documentary stamps tax
Credit life insurance
Savings deposit

Minimum Loan:
P25,000

Maximum Loan:
P50,000

Minimum Term:
6 months

Labels: Loans