QUEDANCOR Memorandum Circular No. 698 (2003)

(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