AMENDMENTS TO MOI 099 — ON CAPITAL BUILD-UP SCHEME FOR NON-COLAT AND LOAN CEILING FOR MICRO ENTERPRISE FINANCING AND ADDENDA TO GROUP LOANS AND REPAYMENT TERM ON EXPANDED LIVELI…

In view of the consensus reached in the initial Regional Consultation
Workshop on the implementation of ELDP, the following amendments and
addenda are hereby prescribed:

Amendments —

1.  Under the Capital Build-up Scheme, the beneficiary shall be
required to open a joint savings account between this office and himself
instead of a non- withdrawable savings account.  The Project Officer
shall be the counter-signaturee on all withdrawals.

2.  Instead of a loan ceiling of P500,000 — as stipulated in our
MOI 099 specifically on the Micro-Enterprise Financing, the loanable
amount shall be P5,000 and above.

3.  Legal documentation items 10-13 shall not form part of project
document requirements to be submitted upon application but these shall
be prepared/submitted immediately after loan approval.

4.  Collateral requirement under Home Appliance item #2 is Deed of Sale or Donation.

Addenda —

1.  The repayment term for the program shall be as follows:

1.1     Non-collateral Loan Window

Loans intended for working capital shall have a repayment term of six (6) months; except for agri-business projects.

Loans intended for the purchase of fixed assets shall have a repayment term of a maximum of one (1) year.

1.2     Micro-enterprise Financing

Loan intended for working capital shall have a repayment term of one (1) year; except for agri-business projects.

Loan intended for the purchase of fixed assets shall have a repayment term of a maximum of two (2) years.

1.3     Small Enterprise Financing

Loans intended for working capital shall have a repayment of a maximum of one (1) year; except for agri-business projects.

Loans intended for the purchase of fixed assets shall have a repayment term of a maximum of five (5) years.

2.  Loan requirement for Group loan whose membership range from 2-5 overseas contract workers are as follows:

1.       Partnership Agreement;

2.       A certificate of Good Standing in the community issued by the Barangay Chairman;

3.       A written and official recommendation from OWWA Regional
Office that the group is cohesive enough for a collective undertaking:

4.       Special Power of Attorney authorizing the group head to mortgage personal and real estate properties of group members.

For strict implementation.

Adopted: 09 Oct. 1990

(SGD.) ATANACIO V. MARONILLA
Administrator