• Assist transport cooperatives in purchasing new public utility jeeps (PUJ) or public utility vehicles (PUV). Encourage savings deposits among cooperative members. Support long-term growth and sustainability in Cebu's public transportation.

Target Clients:

  1. Exclusively available for transportation cooperatives, not individual operators.     

       2. Applicant cooperatives must have a good standing with the Cooperative Development Authority (CDA)

       3. The cooperative must be registered as a transport cooperative with the Land Transportation Franchising and Regulatory Board.     

Term: Maximum of 5 years

Qualification Loan Forms and Requirements:

      1. Loan Approval Sheet – approved with BOD Resolution

      2. Application Form – with notarize resolution of the assigned signatories for loan and deposit in behalf of the cooperative.          

      3. Promissory Note

      4. Disclosure Statement with Amortization Schedule

      5. Deed of Chattel Mortgage and Affidavit

      6. Electronic Primary Entry Book

      7. Encumbered CR

      8. LTFRB Franchise

      9. Comprehensive Insurance Policy

      10. Client Information Sheet, BRR Set and CIC

      11. Income Tax with Audited Financial Statement – if available

      12. Business Permits and Licenses

      13. GIS, Articles of Incorporation and By Laws or CDA Registration – if available

      14. Original OR and CR

      15. Picture of the unit

      16. 4 pcs of ID pictures

      17. 2 valid IDs of the authorized borrower (1 must be TIN)

Terms & Conditions:

      1. Daily deposit requirement of minimum of P5,000

      2. Issuance of Post-dated checks as a form of repayment

      3. Encumbrance of Certificate of Registrations (Chattel Mortgage)

      4. Other fees and charges shall be paid in cash by the cooperative.

      5. A sticker of RBR logo shall be posted on every unit as publicity.

      6. Original copy of franchise with affidavit of waiver to be surrendered to the bank.

      7. Comprehensive Insurance (through CBLIC), should be amortized. 

      8. The bank will repossess the units in case of non-payment for two missed months.

      9. Annual update of franchise registrations with the LTFRB and LTO.

      10. Yearly update of financial statement and permits.

      11. Bank is not liable of any damages, maintenances, loss and defect of the unit.

      12. The bank will not be liable for any negligent acts resulting in impoundment.

      13. The bank holds all original documents, such as franchises, permits and others for each unit.