Vendor's Loan and Savings Program (VLSP)

This is a microfinance program which is intended to provide working capital for store owners, market vendors, and small entrepreneurs.

Loanable amount is P 1, 000.00 to P 50, 000.00, payable in 60 days (2 months) at the interest rate of 5% every month. This is the type of loan called "arawan" which is for the purpose of establishing income generating projects (at least daily income projects).

Member saves a uniform amount daily for sixty (60) days: (Loan amount X 120%) /60 days. For instance, loan amount is P 1, 000.00, the daily savings is P 20.00.

At the end of 60 days, the amount of loan plus interest will be offset against savings. So, in a loan of P 1, 000.00, the net savings after 60 days is P 100.00.

Member may withdraw 25% of his/her Savings at the end of 60 day cycle. Member should have P 300.00 maintaining balance. Loan may be renewed after the cycle with no service fee.

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