Salary Loan – Asiatrust Development Bank
Program Title: Salary Loan
Program Objective: To enhance employees’ benefits program without extra cost to the company. These are short-term multi-purpose loan package granted to regular employees of accredited companies subject to salary deduction scheme.
Criteria for Company Accreditation:
- Should be in operation for at least 4 years;
- Profitable for the past 2 years;
- No record of adverse findings with other financial institutions; and,
- Should have at least 20 regular employees.
Company Requirements for Accreditation:
- Company profile;
- Profile of key officers;
- List of employees/Alpha list;
- Latest 3 years Income Tax Return, Audited and In-House Financial Statements,
- SEC papers and business registration;
- Articles of Incorporation and By-Laws; and,
- List of trade and bank references.
Documentation upon Approval of Accreditation Line:
- Memorandum of Agreement (MOA) between the accredited company and Asiatrust Bank (under with or without company guarantee facility);
- Board Resolution/Secretary’s Certificate authorizing the company to enter into a MOA with Asiatrust Bank and indicating the authorized signatories to the said MOA.; and,
- Duly signed Facility/Conforme Letter (stating the terms and conditions of the loan program).
Eligible Borrowers:
- Regular employees for at least 2 years with a minimum gross monthlysalary of P8,000.00 for rank and file and at least 1 year work tenure for Officers with P15,000.00 monthly compensation.
- Monthly installment of all loans outstanding with and outside of Asiatrust Bank should not be more than 30% of net monthly income.
- No adverse credit findings
Loan Purposes:
- Working capital for start-up/existing business;
- Appliance acquisition; education; debt consolidation; medical expenses; home improvement; lot downpayment; vacation travel expenses; family celebration; car repair/purchase; insurance payments; health and wellness; memorial services; etc.
Terms/Requirements:
- Amount: Minimum of P10,000.00; Maximum of P500.000.00. Interest Rate: Prevailing market rate
- Maturity / Repayment: Payable for 6, 12, 18, 24 months; Up to 36 months for employees with more than 3 years work tenure.
- Mode of Payment: Fixed amortization through salary deduction scheme to be remitted to the bank on a monthly basis via corporate check or to be debited from the mother company’s account with Asiatrust Bank.
Contact Details:
Ms. Ma. Theresa Mangibin
Salary Loans Unit Head Phone: (02) 924.5648
Asiatrust Development Bank
1424 Quezon Avenue, Quezon City
Jan 5th, 2009 at 7:16 pm
Dear Ms. Mangibin,
I am a filipino citizen and working in Dubai for more than 7 years, I would like to inquire is it possible for me to apply for a salary my purpose is debt consolidation. Please let me know if I am eligble.
Thank you,
Catherine
Mar 10th, 2009 at 9:55 am
Dear Ms. Mangibin, I am a filipino OFW working in one of the most reputable Hospital in the middle east for 9 years now. I am coming home for a vacation in the phils this 26 March for 25 days annual leave. I would like to inquire for a short term salary loan my present salary is US$976/month. Just for educational purposes only. Do I qualify for at least 2 months salary payable on a 6 months repay schedule. Thank you and waiting for your response before date of my vacation. Danny
Apr 5th, 2009 at 7:32 pm
Dear ms mangibin: I would like to inquire if i will be able to qualify for your salary loan program. I am a resident of the Phils and work as a flight attendant in one of our international airlines. I have been employed with the airlines for more than 8 years. I hope to received a reply from you. thanks very much,
Apr 22nd, 2009 at 6:57 pm
my husband is an OFW from Dubai and he want to apply for bank loan. It is possible and what are the documents needed.
thanks
Aug 3rd, 2009 at 9:26 am
Good day!
I would like to apply for a loan to put up a bakery store or sari sari store in our neighborhood. May I know the requirements? thank you very much.
Joanne Aquino
Aug 23rd, 2009 at 9:00 am
hello po,
isa po ako sa mga my asawa na ofw nais ko po sana mag apply ng loan para po sa plan ko na mag business,maari po ba kami dito?anu ano po bang requirements for this?at bank na maari naming puntahan na malapit samin pasay po..
salamat po….
Aug 24th, 2009 at 11:40 am
Ms. Mangibin,
We are a network of stores nationwide that are engage in selling motorcycle/appliances/computers/laptops. We just wonder if you can give us the opportunity to serve some of your clients requirements in the future that could benefit both our company as well as the client. Thank you & God bless!
Aug 31st, 2009 at 10:52 pm
Ms Ma. Theresa Mangibin
Im allan bernardo of Q.C. im an agency manager of Philam plans Inc my concern about salary loan of Asia trust is this…i would like to inquire if it possible if i give refferals to asia trust of the list of our good companies that we are servicing in life insurance service bcoz some of our company clients asking us if we have know some banks or financial institution that could help their company to have a group salary loan?…
I do hope my concern will grnt an answer thank you very much and more power to you Ms Ma. Theresa Mangibin
Sep 1st, 2009 at 3:21 pm
matagal napo me naghahanap ng tao/company na pwedeng mhiraman ng capital para sa maliit na business na gusto kong simulan computer shop sana na mkpg start kahit 2units muna ng komputer, ako po ay kasalukuyang nagtatrabaho ngunit gusto ko po magkaroon ng ibang source of income matutulungan ninyo po kaya ako.?
Sep 1st, 2009 at 3:24 pm
sana may mabuting puso na tumugon sa akinh munting nais at ito po ay napakalaking tulong para din po sa aking pamilya lalo nat ako po ang breadwinner sa edad kong 26 sana po ako’y inyong matulungan.Maraming salamat po God will bless to those who give good deeds to others
Sep 6th, 2009 at 3:49 pm
any gov. agency can help us or give us an idea to finance our project in housing … one of my relative own a 2500 sqm. lot and its vacant as of this time now we are planing to buy this property to sub divide it and build our own house in this area … we are compose of 20 pilipino who are planing to buy and have this property and we are willing to settle the terms of payment in 2 to 5 years to some gov. agency who finance our project.. small comunity housing …. hope any one here can give us an idea how we canget the suficient fund to build this small comunity dream possible. this project is costing around 2 million pesos only to buy the property and sub divide it and documentation needed. your not just helping us but it also helping pilipinos home less to have their own property. more power to all goverment agency in the philippines…
CONTACT INFO: 09187981011 OR email@ buz_man_6900@yahoo.com
Sep 19th, 2009 at 9:57 pm
Am victor s. balagat from imus, cavite, I would like to apply as Loan Agent in your bank. any further information, please send me details and company’s compensation. send me thru email add: victrblgt@yahoo.com / of 0921-7252474
Oct 15th, 2009 at 4:11 pm
Pls. check Global Dominion Financing, Inc. at http://www.gdfi.com.ph. We provide loans to qualified OFWs, seamen, office employees, entrepreneurs, and professionals.
Oct 30th, 2009 at 8:56 am
hi gandang umaga po.ako po ay may asawa n nasa saudi at sya po ay magbabakasyon ngayong november,nais po namin magloan ng pera para sa pagpapagawa ng aming bahay.ano po ang mga dokumento n kailangan,at magkno po ang puwede nmin maloan,ako po ay nagpapasalamat kung matutugunan at msagutan po nyo ang aking mga katanungan,email po nyo ako precy_quintero@yahoo.com