QUEDANCOR MEMORANDUM CIRCULAR NO. 698, August 21, 2003
QUEDANCOR MEMORANDUM NO. 678
National Administrative Register August 21, 2003
Relative to the issuance of the subject memorandum on the Financing Program for Small Farmers and Fisherfolk and/or their Association, Cooperative or Federation under ACEF, the following clarification/amendment to the specific policies of the said guidelines is hereby issued.
x x x
4. Interest Rate
Flat interest rate at 4.75% for production loans of six (6) months and below and 9.5% per annum for loans with a term above 6 months.
x x x
5. Service Fee
x x x
For production loans involving PO/JO/CIS, SF shall be added to the principal and collected upon billing or maturity date of the loan.
For your guidance.
Adopted: 21 Aug. 2003
(SGD.) NELSON C. BUENAFLOR
President and CEO