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(NAR) VOL. 14 NOS. 3-4 / OCTOBER - DECEMBER 2003
[ QUEDANCOR MEMORANDUM CIRCULAR NO. 698, August 21, 2003 ]
QUEDANCOR MEMORANDUM NO. 678
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