GAWAT LOAN

Aug 01 2024 GAWAT LOAN

To all Calasiao Coop Members:

Greetings!

Calasiao Coop is now accepting applications for GAWAT LOANS.

What is a Gawat Loan? 

Gawat is a term we use in the Ilocos Region which means a period of time considered as lean months with low economic activity. In these trying times, our Coop is extending loans on top of Multi-Purpose Loans, hence, Gawat Loan.  

Rationale and Applicability

Gawat Loan is applicable only during the rainy season when there are typhoons, floods, thunderstorms, landslides affecting practically all businesses and other economic activities.  Due to the situation, employees, Coop members, partner-Companies and most of the people are affected economically during the lean months which is a regular annual occurrence, thus, the need for assistance. 

 A Gawat Loan has an interest of 1% per month and will be paid against the dividends.

Eligible                 :              Members who have previously received Interest on Capital (“dividends”)

Amount                :              Up to 25% of the previous year’s “dividends”

Loan Payment    :              To be deducted from the current year’s “dividends”

Term                     :              From the date of loan up to the date of “dividends” pay out

Gawat Loan is subject for approval.

For interested parties, please contact your assigned Account Officers.

Thank you for your continued patronage.

The Calasiao Coop