Loans are designed to cater to the needs and wants of the members.
Regular Loan Productive (RL- Prod) - for business or commercial ventures.
Regular Loan Providential (RL – Prov) for the satisfaction of human wants, such as purchase of luxury cars, appliances and the like.
Regular Agricultural Loan
Farmers in their efforts to feed the people, the following agricultural loan subtypes are established. These loans are designed to be paid upon harvest and to help spur the countryside agricultural activities, viz;
Rice and Corn Crop Loan - a “short-term” loan (6 months to pay) designed to finance a single-cropping cycle.
Sugar Cane Crop Loan -12 to 15 months term (planting to harvest).
Cassava Crop Loan - 12 months term.
Other Crop Loan -For Other crops such as vegetable growing, mango blooming, goat raising, etc. 36 months term payable every 6 months.
Agricultural Lot Purchase - designed to help member- farmers acquire farm lots of their own.
Aqua Culture Loan - For prawn and fish culture payable in 6 months.
Livestock Loan - limited to hog-raising for select beneficiaries. Maximum term is 4 months.
Small Enterprise Assistance Loan - to finance credit needs of FICCO’s entrepreneur- members.
Repackaged Special Business Loans – available for Class “A1” and “A1+” members whose business track record is more than three years.
Commercial Credit Line - For member – entrepreneurs whose credit needs depend on projects and purchase orders (standby credit line) service for Class “A1+”, “A1” and “A” members.
Vendors-Drivers Assistance Loan - for members who are ambulant vendors, motor-rela or Jeepney drivers.
Appliance Loan - For purchase of household appliances including computers of members with two year- term.
Motorcycle Loan - For purchase of brand new or surplus motorcycle units. This is the only loan facility of FICCO where no definite maximum amount is set. The maximum limit of this loan is the price of a 200cc motorcycle.
Motor Vehicle Loan - for commercial or personal vehicle needs of our members. Maximum term is 96 months.
Heavy Equipment or Machinery Loan – For purchase of tractors, medical /dental equipments, lathe machines, and the likes.
Cell phone Loan - payable in 12 equal monthly amortization.
Neo TV Services - The loanable amount is the prevailing price of the unit but not to exceed the loan ceiling of Appliance Loan. Maximum Term of 24 months.
Travel Loan Package
Travel & Tours Loan - to finance members’ travel expenses with repayment terms of up to 36 months.
Special Travel & Tour Loan - to help members avail additional deposits as show money for those who intend to travel to countries that need such requirements.
Housing Assistance Loan - for housing improvement and repair with a maximum of amount of P 2 million payable in 60 equal monthly installments.
House Construction Loan - Lot where the house is to be constructed must be owned and titled in the name of the borrower.
Condo/ Apartment Acquisition Financing - The Condo/Apartment is ready for occupancy and transfer, however, separate title is not yet ready.
First Home Housing Loan
- Can cover only the first housing/condo unit that member will own.
- Interest rate at 8% effective, no service fee, provided the loan value of the housing/condo unit, including the lot, plus the deposit equity fully covers the loan exposure; uncovered loan exposure can be covered by PDC or additional REM or assignment of deposits.
- For brand new housing or condo units, the loan value can be computed at 60% of fair market value;
- Interest rate: subjected to review every two years.
- Not subjected to patronage refund, considering its concessional rate.
Rice Loan -1 to 2 sacks payable in 1 month; 3 to 10 sacks payable in 1 week.
Gift Check Loan - members must maintain savings deposit of not less than P 10,000.00 .
Medical Loan - for hospitalization and medicines up to P 50,000 payable in 36 equal monthly installments with 1% service fee per month.
Dental Loan - For tooth extraction, braces/filling or cleaning.
Newborn Screen Test - For members with newborn children that need to be screen tested but don’t have cash to pay such test may avail of this service.
Other Loan Services
Educational Loan - For payment of educational expenses of members or dependents. Proceeds of the loan is payable to the school, or in case of books or uniforms, the same will be payable to the supplier.
Salary Loan - Employed members could make use of this product for their personal needs. A memorandum of agreement between FICCO and the member’s employer shall be prepared and signed before the loan is approved
Petty Cash Loan - Perhaps one of the best selling loans of FICCO, because it is an “instant” loan, this is an over-the-counter loan facility, where members can avail based on their share capital bracket with maximum term of six months.
Calamity - Members who were affected by calamities can avail this loan. All they have to do is to present documents supporting their claim and verified by a competent FICCO staff. This loan is based on individual member’s classification.
Memorial Lot &/or Services Loan - FICCO has acquired memorial lots with the Pryce Gardens and is selling these lots together with the maintenance package. FICCO members are enjoined to avail this service in order for them to benefit in the lower prices of the package.
LAD, LATD or LARS/IS - These are basically back to back loans secured by the member’s deposits. These are also referred to as instant loans because of its fast processing and releasing.