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Dilg Xi Employees Multi-Purpose Cooperative

This document is a loan application for the DILG XI Employees Multi-Purpose Cooperative. In the 3 sentences: The applicant applies for a loan of a specified amount to be paid back in installments over a number of months. They agree to abide by the loan policies and pay penalties for late payments. The applicant authorizes payroll deductions for loan repayments and penalties to be taken from their salary or benefits until the loan is fully repaid.

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DILG STA MARIA
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258 views2 pages

Dilg Xi Employees Multi-Purpose Cooperative

This document is a loan application for the DILG XI Employees Multi-Purpose Cooperative. In the 3 sentences: The applicant applies for a loan of a specified amount to be paid back in installments over a number of months. They agree to abide by the loan policies and pay penalties for late payments. The applicant authorizes payroll deductions for loan repayments and penalties to be taken from their salary or benefits until the loan is fully repaid.

Uploaded by

DILG STA MARIA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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DILG XI EMPLOYEES MULTI-PURPOSE COOPERATIVE

DILG XI Regional Office, Matina, Davao City

NAME : _____________________________________ DATE :__________________________


STATION: _____________________________________
The Credit Committee:
I hereby apply for a loan of _____________________________________ (P__________) payable in full within
______ months, with installment payment to be made every quincena in the amount of
____________________________________ (P__________) plus interest and services based on the unpaid balance per
month. I will pay my first installment on the first quincena/salary day after the release of this loan.

Type/s of loan applied for:

( ) REGULAR ( ) APPLIANCE ( ) BUY-OUT ( ) E-GADGET ( ) DML


( ) EDUCATIONAL ( ) HOSPI ( ) HIL ( ) OBL ( ) EMERGENCY/Others ____________

I hereby agree to abide with all loaning policies and pay penalties and/or fines in case of default in any payment
as taken up and explained in our pre-membership education seminar and now fully clarified and interpreted to me by the
Credit Committee in a language well and fully understood by me.

NOTED BY: _______________________________ ______________________________


Provincial/City Director or Signature of Applicant
Board of Director
AUTHORIZATION

I hereby authorize the Cashier/Payroll Clerk to deduct the loan amortization for the above-applied loan
immediately after the release of my salary from the government coffers thereof, until said loan and/or other charges shall
have been fully paid. In case of delinquency, I hereby agree that payments for arrears and penalties will be deducted from
any office/coop benefits due me (such as: bonus & cash gifts, clothing allowance, PIB, coop dividend, etc.).

_____________________________
Signature of Applicant

ACTION OF THE CREDIT COMMITTEE

Share Capital: __________________ Net Take Home Pay (Per quincena): __________________

TYPE OF Date Loan Loan ARREARS Fines/


Amount Remarks
LOAN Granted Balance Interest
Inclusive Date Accu. Amount
RL
AL
BOL
EGL
EL
HL
HIL
OBL
DML
RECOMMENDATION:
__________________________________________________________________________________________________

RECOMMENDING APPROVAL: APPROVE FOR RELEASE:

______________________________ ______________________________
Credit Committee Manager
Revised LAF – January 2013
AGREEMENT

For the value received I hereby agree to pay to the DILG XI EMPLOYEES MULTI-PURPOSE COOPERATIVE
the total amount of _____________________________________________ (Php_____________) including/plus
(Amount in Words)
interest at the rate of ______ percent (%) which represents my _________________________ in ( ) 6, ( ) 12, ( ) 18,
(Type of Loan)
( ) 24, ( ) 30, ( ) 36 equal monthly installments in the amount of _______________________________________
(Amount in words)
(Php___________) starting ______________________.
(Date)

And if any payments become three (3) months delinquent, the whole overdue amount and the total outstanding
balance plus interest charges, penalties, fines and other incidental fees therein become due and demandable. And if this
loan is endorsed to a lawyer for collection, I hereby agree to pay the amount equivalent to twenty five percent (25%) of the
total amount due and demandable as attorney’s fee plus the amount equivalent to the actual cost of litigation as filing fee
and other charges. Furthermore, I also agree to pay the amount equivalent to thirty three percent (33%) of the total
amount due and demandable as liquidated damages. In case of suit or legal action, the parties agree that the venue of the
suit shall be in the court of Davao City ONLY, to the exclusion of other courts thereof.

I hereby set my hand on this instrument this _______ day of _____________________ 20____ at Davao City,
Philippines.

______________________________
Applicant/Debtor

__________________________________ _________________________________
(Witness) (Witness)

Subscribed and sworn to before me this ________ day of __________________________ at Davao City,
Philippines, affiant exhibited to me his/her Community Tax Certificate No. __________________ issued on
____________________________ at _____________________________________.

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