Professional Documents
Culture Documents
Credit Facility For Spareparts Wholesale
Credit Facility For Spareparts Wholesale
A. RATIONALE
Due to the demand of the market in Vehicle Financing, we have created a product
(BUSINESS TRANSPORT LOAN) that would suit their needs.
B. OBJECTIVE
*Must be *At least one year *Processing fee: *Downpayment 3.5% per
between 21-63 continuous month of
years old business 2.0% of the At least 30% the past
during the time operation; and approved of the due
of application; loan amount Qouted amortization
Price (Principal
*Borrower must *Other charges plus
be in good *Engaged in deducted from *Initial Savings Interest)
health condition Retailing of the loan
motorcycle proceeds Minimum of
*At least 2 spareparts and (includes but not 2.5% of the
years residency after sales limited to loan
if homeowner services. Annottaion Fee, amount
Insurance (OD)
*5 years if Fee)
“renter”
*Documentary
*Borrower must Stamp Tax
have a
business - (DST): P1.50
per P200 loan
- Doc stamp = 40
pesos for 1st
5,000.00 and
additional 20
pesos for each
5,000.00 or
fractional part in
excess of 1st
5,000.00
D. PRODUCT FEATURES MATRIX
Documentary Stamp Tax Doc Stamp Loan = P1.00 per P200 loan; Doc
stamp Annotation = 40 pesos for 1st 5,000.00 and
additional 20 pesos for each 5,000.00 or fractional
part in excess of 1st 5,000.00
D. DOCUMENTARY REQUIREMENTS
Loan Application
Loan Credibility Test (CI/BI Form)
Business Proposal (Loan Investment Plan)
Promissory Note
Purok Residence & Business Certificate
Barangay Clearance
Deed of Chattel Mortgage
Co-maker
Government ID (Postal, Voter’s ID, Diver’s License, etc.)
F. LOAN TERMS AND PROCESSING FEE
G. PROCEDURES
DO Upon Application
Vehicle
3. As much as possible we only finance Brand New Vehicles,
however, if the vehicle to be financed is a reconditioned or
second hand vehicle, the following must be observed:
We are endorsing this proposal for your perusal and suggestions to better facilitate
the current situation the Company is facing. We are hoping for your kind
consideration on this matter.
Sincerely,
Approved by:
JINYI IMPORT
JP Laurel Avenue,
Davao City
Sir,
Please be informed that CARE Foundation Inc. has approved in favor of JOVEN A.
TABIDAD a Heavy Equipment Loan to finance the purchase of the following unit from
you:
Brand/Make Series Color Year Model
NISSAN NP300 4X2 MT EL ALPINE 2020
NAVARA WHITE
The borrower has authorized CFI to release in your favor the proceeds of the Heavy
Equipment Loan in the principal amount not to exceed PESOS: NINE HUNDRED
SIXTEEN THOUSAND (P 916,000.00)
Disbursement of the Loan shall be made upon CFI receipt of the following documents:
a. Original Sales Invoice addressed to borrower in the amount of (P 1,145,000.00) bearing
with the borrower’s signature.
b. Original Motor Vehicle Delivery Receipt bearing the borrower’s signature
c. Authorization Letter & Valid ID of authorized representative if unit will be received other
than client.
Notes:
1. Freight, Chattel Fee and Insurance (OD) for the account of the borrower.
2. This confirmation of Purchase is valid for 15 days from date of letter.
Should you be amenable to the foregoing. Kindly return to us a copy of this Confirmation of
Purchase with your signature affixed below not later than 15 days from date of letter. Please
fax an advance copy to (083) 234-1107.
______________________
Branch Manager
DEALER
Conforme:
Simbulan
Borrower