The Group Loan Agreement Form is essential for microfinance and community lending operations in the Philippines, where group-based lending is a common practice to provide financial access to underserved communities. This document is used when multiple borrowers form a group to collectively obtain and guarantee a loan, typically for small business, agricultural, or community development purposes. It complies with Philippine banking regulations, including the General Banking Law of 2000 and the Microfinance NGOs Act, while incorporating necessary consumer protection provisions. The agreement details group structure, joint liability, individual responsibilities, and collective decision-making processes, making it particularly suitable for microfinance institutions, rural banks, and community development organizations operating in the Philippines.
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1. Parties: Identification of the Lender and all Group Members, including their complete details as required by Philippine regulations
2. Background: Context of the group loan arrangement and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the total loan amount, individual allocations, and approved purpose of the loan
5. Group Structure and Leadership: Definition of group organization, roles of group leaders, and collective responsibilities
6. Joint and Several Liability: Terms establishing the collective responsibility of the group for the loan repayment
7. Repayment Terms: Payment schedule, interest rates, and method of payment
8. Group Member Obligations: Specific responsibilities of each group member, including meeting attendance and savings requirements
9. Default and Remedies: Consequences of default and procedures for handling non-payment
10. Representations and Warranties: Statements of fact and promises made by the group members
11. Term and Termination: Duration of the agreement and conditions for early termination
12. Governing Law: Specification of Philippine law as governing law and jurisdiction
13. Execution: Signature blocks for all parties and witnesses
1. Collateral Requirements: Required when the loan includes specific collateral arrangements for additional security
2. Insurance Provisions: Included when loan insurance or life insurance is required for group members
3. Training and Capacity Building: Added when the loan program includes mandatory training or financial literacy components
4. Savings Component: Included when the loan program requires mandatory savings from group members
5. Electronic Payment Terms: Added when electronic payment methods are available and used
6. Group Constitution: Required for formal group structures with specific operational rules
7. Dispute Resolution: Detailed alternative dispute resolution procedures when required by the lender
1. Schedule A - Group Member Details: Complete information about each group member including contact details and contribution amounts
2. Schedule B - Loan Repayment Schedule: Detailed payment schedule showing dates, amounts, and allocation among group members
3. Schedule C - Group Rules and Regulations: Internal rules governing group operations and meetings
4. Schedule D - Collection Procedures: Detailed procedures for loan collection and handling of payments
5. Appendix 1 - Required Documents: List of supporting documents required from each group member
6. Appendix 2 - Meeting Attendance Form: Template for recording attendance at group meetings
7. Appendix 3 - Payment Record Form: Template for tracking individual and group payments
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Microfinance
Rural Development
Agriculture
Small Business Development
Community Development
Social Enterprise
Cooperative Banking
Non-Profit Organizations
Development Finance
Relevant Teams
Legal
Compliance
Credit Risk
Microfinance Operations
Rural Banking
Community Development
Document Administration
Financial Inclusion
Credit Administration
Banking Operations
Relevant Roles
Microfinance Officer
Loan Officer
Credit Risk Manager
Community Development Officer
Legal Counsel
Compliance Officer
Banking Operations Manager
Rural Banking Officer
Credit Administrator
Financial Inclusion Specialist
Development Program Manager
Group Formation Officer
Contract Administrator
Legal Documentation Specialist
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