OPPORTUNITY KAUSWAGAN BANK, INC.
A & L Building, E. Lopez Street, Jaro, Iloilo City

Program Title: MICRO ENTERPRISE TRANSITION PROGRAM (METP)

Program Objective: A microfinance lending program designed to serve as bridge between “Proyekto sa Kauswagan sa Katilingban (PKK)” to Micro Enterprise Development Program (MEDP); developing micro enterprises by providing financial assistance to a smaller group of fives micro entrepreneurs for the expansion of their existing businesses; increasing productivity and income; and creating employment opportunities for the unemployed and underemployed.

Eligible Borrowers:
New Clients:
* Individual, male or female, 21-60 years old
* Presently engaged in a business that is profitable, decent and legal and which provides a stable source of daily or weekly income
* Engaged in present business for at least 1 year
* Residing in present address for at least 3 years. Residence must be within the bank’s service area.
* Without any history of past due loan with other MFIs, creditors and suppliers
* Can provide a Barangay Business Permit

Clients Graduating from METP:
* Individuals, male or female, 21-60 years old
* Presently engaged in a business that is profitable, decent and legal and which provides a stable source of daily or weekly income
* Engaged in present business for at least 1 year
* Residing in present address for at least 3 years. Residence must be within the bank’s service area.
* PKK clients for at least 2 years and with good repayment and performance

Loan Purpose: Loans in small amounts for people involved in income generating activities, especially women, who do not have access to credit because of lack of collateral or assets. Specifically those who have small informal businesses and need working capital.

Terms/Requirements:

Loan Amount: Minimum of P5 Thousand; Maximum of P150 Thousand

Interest Rate: 2.5% per month

Maturity / Repayment:
* Three (3) to six (6) months
* Weekly and monthly payments (amortized)

Security:
* Clean for group loans and Real Estate; Chattel of Motor Vehicles; Serialized Equipment and other Acceptable Securities for Individual Loans with loan amount of over P50,000.00.

Requirements:
* Application form (complete information provided and signed by applicant and spouse or co-borrower)
* ID picture -55-
* Valid identification cards (IDs)
* Business license/Barangay permit
* Business records and receipts (if available)
* Official receipts for utility bill payments (last 3 months)
* Proof of loan payments and deposits (if applicable)
* Proof of ownership of assets
* Co-Maker’s statement
* For Real Estate:
o Machine copy of Certificate of Title certified (all pages) by the Registry of Deeds
o Location and Vicinity Map signed and sealed by a Geodetic Engineer
o Machine copy of Tax Declaration
o Real Estate Tax Receipts and Tax Clearance

* For Chattels:
o Machine copy of LTO Certificate of Registration
o Machine copy of LTO Official Receipt
o 3 sets of Stencils of Engine and Chassis Number

* Proof of ownership for serialized equipment and appliances
* Deed of Assignment

Contact Details:
Mr. Benjamin T. Montemayor, President and CEO
Phone: (6333) 320.4887
Fax: (6333) 320.8347
E-mail: kbankho@yahoo.com; okbankpres@yahoo.com
URL: www.omb.org.ph