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EXPANDED LOAN:
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> open for coop members with minimum of Php2,000.00 share capital
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> deductions include: 5% monthly interest and 3.5% capital build-up [added back to share capital]
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> all expanded loans shall be approved by the BOD Chairman upon the recommendation of the Coop Manager; the first loan is Php5,000.00; the second loan is doubled. The maximum loan amount is Php30,000.00 and that this be backed by one co-maker
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> payable in 1, 2 or 3 months only
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> a 2% penalty on the unpaid amortization shall be imposed after a grace period of 5 days
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