Types of Loan - FICCO

 For FICCO members, it is important that it will reach the member classification A1+,A1 and A. This classifications can make easier loans to FICCO. These members will have low interest at the same time, they can have many loans. 

The CI or credit officer will look at the members 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 

LAD 

2. Petty Cash Loan

3. Rice Loan

4. Calamity Loan

5. Jewelry Loan

6. Medical Loan

7. Newborn Screen Test

8. LATD

9. LARS

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

Most probably, the collateral will be a money collateral. Maximum loan will be based on Money collateral.Money collateral will be the sum of share and savings deposit. 

1. For class A1+:

a. savings> share

400%

b.savings=share

350%

c. savings< share

325%

2. For class A1+:

a. savings> share

350%

b.savings=share

325%

c. savings< share

300%

3. For class A:

a. savings> share

325%

b.savings=share

300%

c. savings< share

275%

4. For class B:

a. savings> share

300%

b.savings=share

275%

c. savings< share

250%

5. For class C:

a. savings> share

275%

b.savings=share

250%

c. savings< share

225%

6. For class D:

a. savings> share

250%

b.savings=share

225%

c. savings< share

200%

7. For class E:

a. savings> share

225%

b.savings=share

200%

c. savings< share

175%