Financing Programs Loans and Financing Programs for Micro, Small and Medium Enterprises

Opportunity Ka-Partner Microfinance 2 Program

Program Title:  Opportunity Ka-Partner Microfinance 2 (OK-MF 2) Program
Program Objective: To help enterprising individuals improve their business through access of additional working capital and acquisition of fixed assets for business use.

Eligible Borrowers:

• Must be between 21-64 years old during the time of application;
• Borrower must be in good health condition; and,
• At least 3 years residency if homeowner, and 5 years if "renter".

Eligible Projects/Business:

• At least one year continuous business operation; and,
• Engaged in trading, manufacturing, processing and services.

Loan Purpose: For business use only (additional working capital, purchase of machineries and equipment, business site improvement/expansion, etc.)

Terms/Requirements:

Amount: P20.001.00 to P150,000.00

Interest Rate: Thirty percent (30%) per annum, straight computation and amortized over loan term
Maturity / Repayment:

• 3 to 12 months; semi monthly or monthly
• P20,000.00 to P49,999.00 - thru Bank Deposit Slip
• P50,000.00 to P150,000.00 - thru Post Dated Check (PDC)

Loan Charges:

a. Application fee of P100.00, paid outright upon loan application
b. Other charges deducted from the loan proceeds: o    Service fee: 4% of the loan amount

• Documentary Stamp Tax (DST):   P1.00 per P200 loan
• Mortgage Redemption Insurance (MRI): P0.92 per thousand peso loan
• Loan documents and forms fee:  P150.00 per loan
• Microinsurance (Cocolife)
• Notarial fee:  P150.00

Savings Requirement: 20% of the approved loan amount paid outright (not deducted from the loan proceeds)

Penalty:5% per month of the past due amortization (Principal+lnterest)

Contact Details:

Opportunity Microfinance Bank (OMB)
OMB Building, Robinsons Homes East, Commercial Arcade-1
Robinsons Homes East, Circumferential Road
Barangay San Jose, Antipolo City

OMB Trunkline No.: 630-0141

• Selven Raguro - local 131
• Irene Miguela - local 135
• Marianito Golla - local 151