BALAY LOAN

“Pabahay ang Alay, Layunin ay I-angat ang Buhay”.

The Balay Housing Microfinance Loan may be used to finance home improvement/repairs, home construction, or home/lot purchase.

General Client Eligibility Criteria:

  1. Micro entrepreneurs of any gender;
  2. Legal age not exceeding 65 years of age;
  3. Located within the municipality where RBS is present through a bank branch or field office;
  4. At least 3 years resident in the area unless, the place of residence is solely owned by the applicant as evidenced in the property title and tax declaration;
  5. At least 1 year in business
  6. With a co-borrower (either spouse or relative of 1st degree of consanguinity or partner in business)
  7. Without any history of past due account with the bank, other banks and/or any other creditors/suppliers.
  8. With other verifiable sources of household income
  9. With verifiable source of income from:
    • Regular employment or other rendition of labor or service;
    • Supplementary or other source of income from an economic enterprise, income generating activity (farming) or support/contribution from other members of the family or household.
  10. For client applying for a loan above P 50,000.00, the client should additionally show tenure security or proof of legal use, possession or ownership of their residence for both house and lot. (attachment only)

Requirements:

  1. Proof of Billing
  2. Electrical bill / Telephone bill, CAT-V, etc.
  3. Business Permit / Mayor’s Permit
  4. CTC / Sedula, Brgy. Clearance (borrower/co-borrower, co-makers)
  5. 2×2 picture (borrower/co-borrower, co-makers)
  6. Two (2) qualified co-makers
  7. With co-borrower
  8. Business within the town
  9. ID (Driver’s license, SSS, GSIS, Postal, PRC, Voter’s, PhilHealth, Pag-Ibig, Passport, etc.)
  10. Inventory of Stocks

Other Requirements:

  1. For House Renovation:
    • Bill of Materials / Labor Cost
    • Picture of Project (before and after completion)
  2. For House Construction:
    • Building plan / permit
    • Electrical plan
    • Zoning Certification
    • Loan release will be based on project sectioning
  3. For Lot Purchase:
    • Deed of Sale
    • Payment will be done at the bank