AMPC Loans revised guidelines for 2008

ANNOUNCEMENT

The AMPC Board is pleased to announce the approval of the following recommendations by the Credit Committee effective 01 Jan 2008:


· Increase of the loanable amount for Regular & Contingency Loans


REGULAR:
(From Php250,000.00 to Php300,000.00)

CONTINGENCY:
(From Php40,000.00 to Php50,000.00)



· Extension of the amortization period

REGULAR - From 36 months or 3 years to 48 months or 4 years
CONTINGENCY - From 10 months to 12 months or 1 year


· Requirement – NO CHANGE, still four times the combined paid-up share capital and member’s investment fund.

· Co-maker – If the loan amount is Php250,000.00 and above, the borrower has the option to avail of two co-makers to pledge for him/her