Objectives

This policy provides guidelines governing the approval, processing and collection of loans
receivable from members of Ayala Multi-Purpose Cooperative (the Cooperative). The policy is
drawn from CDA Regulations, pertinent provisions of the Cooperative’s By-laws, and policies
and procedures approved by the Board of Directors for the orderly implementation of
Cooperative programs and services.

I. Eligibility Criteria

1. Only members of good standing can avail of the credit services of the Cooperative. To
be a member of good standing, the following must be met:
1. The borrower has to be a bona-fide Regular or Associate member of the Coop.
2. The borrower has fully paid the Minimum Share Capital of TWO THOUSAND
PESOS (Php 2,000.00) and Membership Fee of TWO HUNDRED PESOS (Php
200.00).
3. The borrower has no default on any outstanding loan to the Coop.
4. The borrower is an Active member, i.e., committed to a regular semi-monthly
share capital contribution.
2. Generally, members with past due loans are disqualified from availing new or other
types of loans. However, members may be allowed to apply for a loan provided all
arrears and penalty charges are deducted from the proceeds of the new loan or paid
over the counter.

II. Loan Entitlement

1. Each company has their own internal guidelines in terms of net cap and loan eligibility. In
the absence of internal guidelines, the Cooperative’s general guidelines on loan
entitlement of regular members will be followed.
2. Associate Members are entitled to borrow up to 90% of their share capital in the
Cooperative.
3. No two (2) loans of the same type shall be allowed at the same time.

III. Loan Processing

1. Members can apply by accomplishing the corresponding Loan Application Form (for
companies not in online MLMS yet) and through online loan application page for
companies under MLMS.
2. For loans applied online, signed Promissory Note (PN) should still be submitted to the
Cooperative before crediting the loan proceeds to member’s account.
 3. Loan proceeds shall be released within seven (7) working days provided that the
application for loan has been submitted within the prescribed cut-off time and with
complete approval and supporting documents.
4. Except for Transport Loan, all loan proceeds shall be released/ credited through the
member’s BPI/BFB ATM account.

IV. Loan Payments

1. All loans of regular members should be paid through payroll deduction and should follow
the approved semi-monthly amortization schedule.
2. Loans of Associate members should be paid either through issuance of Postdated
Checks or through Auto-Debit Arrangement (ADA).

Ayala Multipurpose loan

Eligibility

Company’s loan eligibility will prevail.

● Maximum Loan Amount: Php 400,000

● Maturity: 4 years
● Loan Entitlement: 3x of Share Capital
● Minimum Share Capital: Php 50,000
● Interest Rate: 2% per month
● Service Fee: 0.5% of loan or Php 100 which ever is higher
● Capital Build Up: 2.5% of loan amount
● Renewal Period: 50% paid

https://ayalacoop.com/products/multi-purpose-loan/