PRE CLEARANCE:

For : CREDIT COMMITTEE

From :

AO, CLD

SUBJECT :

DATE : Feb 3, 2020

Request:

This is to seek clearance to process the increase of existing Credit Line of the above subject. Details below, to wit:

Background:
PARTICULARS FROM TO
Facility Credit Line Term Loan
Amount P20.0M 40.0M
Interest rate 11% 10%

Term One (1) year

Purpose To finance its working capital requirement in the construction of houses sold
Amount finance 80% of the total contract price of the house & lot
Mode of Payment Monthly Amortization on principal and interest
Existing terms and 
conditions

Note: The increase of existing Credit Line from P20.0M to P40.0M shall be used to continuously finance its working capital
requirement in the construction of houses sold.

Existing loan details:

PN No. Principal Amount Outstanding Balance Date Granted- Maturity Date Status
Term Loan

Sub – Total 110,000,000.00 50,628,426.10

Recommendation:

Prepared by: Noted by: