This loan program mainly focuses on barangay officials who are looking for capital to start or fund a small business. The Barangay Chairman and Barangay Council members are allowed to borrow this credit program.
Barangay Chairman & Barangay Council members (Kagawad, Secretary and Treasurer) who are not more than 64 years old and currently serving as Barangay Officials.
Amount of Loan
- Maximum of P80,000.00 for the first availment
- Maximum of P100,000.00 after first availment
One (1) year term; eleven (11) monthly of four (4) amortizations depending on the Schedule of Honorarium.
Two (2) years term; twenty two (22) monthly or eight (8) amortizations depending on the Schedule of Honorarium.
A. For the borrower
- Current year Community Tax Certificate
- Latest 2x2 ID Picture
- Valid ID's or Oath of Office
- Appointment paper issued by the DILG Office
- Sketch of Residence
B. For the Barangay
- Executions of Memonrandum of Agreement (MOA) between RBI and Brgy. Chairman and Treasurer
- Latest Barangay Payroll
- DILG ID of Brgy. Chairman & Treasurer
- Appointment Paper of Brgy. Chairman & Treasurer
- Schedule of Honorarium from the DILG Municipal or City (One(1) time only at MOA signing)