FLEXIBLE CASHBOX LENDING INCORPORATED
2nd Floor, A&P Building, Lazatin Boulevard,
Baranggay Dolores, City of San Fernando, Pampanga.
collections@flexcashbox.com (0920)2464369/(0917)1085141
LOAN AGREEMENT
THIS LOAN AGREEMENT AND PROMISSORY NOTE (the “Note”), is made this ______ day of
_________, 2019, by and among Flexible Cashbox lending Inc. (hereinafter, known as
“LENDER”) and ________________ (hereinafter, known as “BORROWER”). BORROWER and
LENDER shall collectively be known herein as “the Parties”. In determining the rights and duties
of the Parties under this Loan Agreement, the entire document must be read as a whole.
PROMISSORY NOTE
FOR VALUE RECEIVED, BORROWER promises to repay to the order of LENDER, the sum of Php
_________.
ADDITIONAL LOAN TERMS
The BORROWER and LENDER, hereby further set forth their rights and obligations to one
another under this Loan Agreement and Promissory Note and agree to be legal bound as
follows:
A. Principal Loan Amount ___________________
B. Loan Repayment Terms.
BORROWER will make payment(s) to LENDER in separate payments according to the following
schedule:
THE BORROWER is expected to settle a fixed weekly payment of Five Thousand Pesos (Php 5,000.00) on
normal weeks of fair weather condition, until such time the principal loan amount and interest of 5%
per month has been fully paid in which a certificate of loan completion shall be issued by the LENDER.
Also, the BORROWER shall be given the option to pay weekly a fixed amount of Four Thousand Pesos
(Php 4,000.00) during the periods of rainy and inclement weather due to the nature of his/her business.
Other specific details are as follows:
Loan payment shall begin after the date of 28th of June, 2019 on the first banking date.
FLEXIBLE CASHBOX LENDING INCORPORATED
2nd Floor, A&P Building, Lazatin Boulevard,
Baranggay Dolores, City of San Fernando, Pampanga.
collections@flexcashbox.com (0920)2464369/(0917)1085141
C. Method of Loan Payment.
The BORROWER shall make all payments called for under this loan agreement by sending check
or other negotiable instrument made payable to the following individual or entity at the
address indicated:
Name:
__Flexible Cashbox Lending Inc.___________
Address:
Unit D, Angie Parman Building, Greenville Subdivision, City of San Fernando Pampanga
If LENDER gives written notice to BORROWER that a different address shall be used for making
payments under this loan agreement, BORROWER shall use the new address so given by
LENDER.
D. Default.
The occurrence of any of the following events shall constitute a Default by the BORROWER of
the terms of this loan agreement and promissory note:
1) BORROWER’S failure to pay any amount due on the date required under this
loan agreement.
E. Additional Provisions Regarding Default.
1) Addressee and Address to which LENDER is to give BORROWER written notice of
default: Unit D, Angie Parman Building, Greenville Subdivision, City of San
Fernando Pampanga
If BORROWER gives written notice to LENDER that a different address shall be
used, LENDER shall use that address for giving notice of default (or any other
notice called for herein) to BORROWER.
2) Philippine Post Office. Upon default, LENDER shall give BORROWER written
notice of default. Mailing of written notice by LENDER to BORROWER Mail shall
constitute prima facie evidence of delivery. BORROWER shall have 15 days after
receipt of written notice of default from LENDER to cure said default. In the case
of default due solely to BORROWER’S failure to make timely payment as called
for in this loan agreement, BORROWER may cure the default by either: (I)
making full payment of any principal and accrued interest (including interest on
these amounts) whose payment to LENDER is overdue under the loan agreement
and, also, the late-payment penalty described below.
3) Penalty for Late Payment. There shall also be imposed upon BORROWER a
weekly 10% penalty for any late payment computed upon the amount of any
principal and accrued interest whose payment to LENDER is overdue under this
loan agreement and for which LENDER has delivered a notice of default to
BORROWER
4) Indemnification of Attorney’s Fees and Out-of-Pocket Costs. Should any party
materially breach this agreement, the non-breaching party shall be indemnified
by the breaching party for its reasonable attorney’s fees and out-of-pocket costs
which in any way relate to, or were precipitated by, the breach of this
agreement. The term “out-of-pocket costs”, as used herein, shall not include
lost profits. A default by BORROWER which is not cured within 15 days after
receiving a written notice of default from LENDER constitutes a material breach
of this agreement by BORROWER.
F. Integration.
This Agreement, including the attachments mentioned in the body as incorporated by
reference, sets forth the entire agreement between the Parties with regard to the subject
matter hereof. All prior agreements, representations and warranties, express or implied, oral
or written, with respect to the subject matter hereof, are superseded by this agreement. This is
an integrated agreement.
G. Severability.
In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable,
that provision shall be severed from the remainder of this Agreement so as not to cause the
invalidity or unenforceability of the remainder of this Agreement. All remaining provisions of
this Agreement shall then continue in full force and effect. If any provision shall be deemed
invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the
scope and breadth permitted by law.
H. Modification.
Except as otherwise provided in this document, this agreement may be modified, superseded,
or voided only upon the written and signed agreement of the Parties. Further, the physical
destruction or loss of this document shall not be construed as a modification or termination of
the agreement contained herein.
I. Others.
Where appropriate words signifying one gender shall include the others and words signifying
the singular shall include the plural and vice versa. Paragraph headings are for convenience of
reference only and are not intended to have any effect in the interpretation or determining of
rights or obligations under this Promissory Note.
The Borrower hereby acknowledge that they have read the printed provisions of this
Promissory Note and the typewritten entries made in the appropriate spaces provided herein
and confirm that they understand and are in agreement with said printed provisions and such
entries.
Signed at ____________________________ on this ____ day of ______________________
20____.
MADE BY:
________________________ __________________________
Signature over Printed Name Signature over Printed Name
(Lender/Representative) (Borrower)
Signed in the Presence of:
DISCLOSURE STATEMENT
On loan/credit transaction as required under RA 3765, Truth in Lending Act
NAME OF BORROWER/MAKER
ADDRESS
NAME OF CO-MAKER
ADDRESS
NAME OF CO-MAKER (2)
ADDRESS
1. LOAN AMOUNT P ___________
2. OTHER DEDUCTIONS P ___N/A_____
a. Documentary Stamp Tax P ____N/A____
b. Mandatory Credit Insurance P ____N/A____
c. Others
_____N/A______ _____N/A______
_____N/A______ _____N/A_______________
3. NET PROCEEDS OF LOAN (Item 1 less Item 2) P __________
4. SCHEDULE OF PAYMENT
a. Payment Due ___________P ___________
b. Instalment Payments
5. EFFECTIVE INTEREST RATE (Interest and Other Charges) 5% Per Month
The effective interest rate is higher than the contractual interest rate of 5% because of item 2
deductions above (Effective Interest Rate changes upon repricing)
6. CONDITIONAL CHARGES THAT MAY BE IMPOSED (if applicable)
NATURE AMOUNT
Attorney’s Fee 25% of the entire claim
Liquidated Damages 2% per annum
Late Payment Penalty 5 % for first month, additional 1% monthly after
1st month or P500, whichever is higher.
Others:
CERTIFIED CORRECT:
______________________________________ _______________
Signature of Lender/Authorized Representative Position
I ACKNOWLEDGE RECEIPT OF A COPY OF THIS STATEMENT PRIOR TO THE CONSUMMATION OF THE
CREDIT TRANSACTION.
__________________________________________ _______________
Signature of Maker/Borrower Over Printed Name Date
_____________________________________________ ________________
Signature of Co-Maker/Co-Borrower Over Printed Name Date
________________________________________________ ________________
Signature of Co-Maker/Co-Borrower (2) Over Printed Name Date
