HELPRO SERVICE COOPERATIVE

LOAN APPLICATION FORM

1. INFORMATION OF LOAN APPLICANT AND REQUESTED LOAN

FIRST NAME:________________________ MIDDLE NAME: ______________________ LAST NAME:_________________________

ADDRESS: _______________________________________________________________________________
HELPRO MEMBER ID: ____________________ AGE: ___________ MOBILE NUMBER: ___________________

COMPANY ASSIGNED: _________________________________

LOAN REQUEST: (PHP): ________________________

AMOUNT IN WORDS: _______________________________________________________________________________________
TERMS: ___________________ MONTHS

PURPOSE OF THE LOAN: __________________________________________________________________

I certify that the information above are true and correct. I agree to the loan terms and conditions attached to this application. I
unconditionally promise to pay Helpro this loan subject to its terms and conditions.

_______________________________ _______________
Applicant Signature Date

2. GENERAL MANAGER CERTIFICATION

I certify that above loan applicant is personally known to me, is a member of good standing, has affixed his signature above, and is
not related to me to the third degree of consanguinity

_______________________________ _______________
GM Signature over printed name Date

3. PAYROLL / HR

PAYDATES: (mark one) ___ 5th and 20th ___ 10th and 25th ___ 15th and 30th
MONTHLY BASIC SALARY : ________________________
MONTHLY TAKE-HOME PAY (BASIC SALARY LESS ALL DEDUCTIONS) : ________________________
ACCUMULATED CONTRIBUTIONS : ________________________
ACCUMULATED 13TH MONTH PAY : ________________________
TOTAL EXISTING LOANS : ________________________

Attested By: _______________________________ _______________

Signature over printed name Date

4. MICROFINANCE (only for approved loans)

Loan Number: _________________ Amount: ____________________ Term: _____________________

Processed by: _________________ Approved by: ________________

 Terms and Conditions for Helpro Service Cooperative Member Loans

Eligibility
1. All currently employed and contributing members that have posted at least three monthly contributions eligible for a loan,
subject to availability of funds.
2. Members with existing loans are ineligible for another loan until the existing loan is fully paid.
3. Members whose applications are not accommodated on a certain pay date shall be prioritized on their next pay date.

Loan Amount
1. The maximum loanable amount shall be the total of the member’s monthly contributions and accumulated 13 th month
pay less any encumbrances to these.
2. The loan amount shall be subject to available funds.

Repayment term and schedule of payment:

1. The term of the loan shall be four (4) months at most.
2. The loan shall be paid in equal installments or amortizations at every pay date over the term of the loan.
3. Amortization shall begin on the first pay date after the loan is approved. Payment continues with every pay date until

4. Payment shall be made through automatic salary deductions on every pay date.
5. Loan payments shall be prioritized and deducted from a member’s pay right after government-mandated deductions
6. Loan payments cannot exceed 33% of a member’s take-home pay prior to loan payment. The loan will be structured
to consider this limitation. Special loans such as those intended to advance the 13th month pay are exempt from this rule.

Interest
1. Interest of 4% per month shall be charged on the outstanding principal balance until the loan is fully paid.
2. Loan payments in excess of the interest charged shall reduce the outstanding loan amount.
Service Fee
1. There shall be a service fee of 1% of the loan amount. This shall be charged and deducted from the proceeds of the loan.

Steps in applying for a loan

1. Helpro member fills up and signs Part 1 - “Information on loan applicant and requested loan”. Member forwards filled-up
application form to his or her GM.
2. GM fills up and signs Part 2. “General Manager Certification”. GM collates and forwards filled-up application forms to HR.
The forms must be with HR at least four working days prior to the next pay date to allow sufficient time for processing.
3. Authorized HR staff fills up and signs Part 3. “Payroll/ HR”. Authorized HR staff collates and forwards filled-up application
forms to the Microfinance Unit. The forms must be with the Microfinance Unit at least two working days prior to the next pay
date to allow sufficient time for processing.

AUTHORITY TO DEDUCT (ATD)

I hereby authorize HELP PROFESSIONALS SERVICE COOPERATIVE (“ HELPRO”) to deduct from my pay the above deductions
in accordance with the terms above starting ___________________.

I am authorizing this voluntary payroll deduction pursuant to DOLE Department Order No. 195 series of 2018 or the
“Rule Amending Section 10 of Rule VIII of the implementing Rules and Regulations of the Labor Code on Wage Deduction”.

I understand and agree that in the event my membership and/or employment ends for any reason before the final deduction
is made, the entire balance will be deducted from my final pay.

_______________________________ _______________
Applicant Signature Date