QRCGC Memorandum Circular No. 332 (2004)

(NAR) VOL. 16 NO. 1 / JANUARY - MARCH 2005

[ QRCGC MEMORANDUM CIRCULAR NO. 332, October 06, 2004 ]

INTEREST RATES, SERVICE AND COMMITMENT FEES FOR THE SULONG PROGRAM

Effective October 1, 2004, interest rates, service and commitment fees for the SULONG Program shall be adjusted /amended as agreed upon by the SULONG Finance Committee, as follows:

1. Interest Rates Term of Loan Interest Rate a. For loans with a term of up 10.6% - (91-day T-Bill + 3% as of to 1 year September 27, 2004 T-Bill Rate) b. For loans with a term above 14.4% - (3 year T-Bond + 3% as of 1 year up to 3 years September 29, 2004 MART I Rates) c. For loans with a term over 3 15.2% - (5 year T-Bond + 3% as of years up to 5 years September 29, 2004 MART I Rates) 2. Service Fee and Commitment Fee a. For Short Term Loans and Financing of Pos Service Fee shall be P2,000.00 for every P1.0 M plus ½ of 1% of the approved loan to be deducted from the proceeds of the loan.

b. For Long Term Loans Service Fee shall be P2,000.00 for every P1.0 M plus ½ of 1% of the approved loan and commitment fee of 0.125% of the unavailed balance. The above interest rates, service and commitment fees shall apply to all loan releases after September 30, 2004. Be guided accordingly. Adopted: 06 Oct. 2004

(SGD.) NELSON C. BUENAFLOR President and CEOSource: Supreme Court E-Library