PROGRAM NAME: SUDECOR EMPLOYEES EMERGENCY LOAN FACILITIES: PROGRAM GUIDELINES: I WHO CAN AVAIL OF THIS LOAN - Regular

r employees of Sudecor Manufacturing whose performance in repayment is excellent; meaning there is no failure in paying the schedule semi-monthly amortization. II PRODUCT DESCRIPTION: 1. This loan is an extension to an existing salary loan of any qualified Sudecor Manufacturing employee; meaning there is no new release but instead it is just an amendment of the borrowers existing promissory note; 2. The maximum amount of loan is only P 3,100 which is equivalent to four (4) semi-monthly amortization; 3. The maximum term of extension is only sixty (60) days from the original due date; 4. Charges will be the same as far as the interest is concern (20% per annum); however, a processing fee or SC of 1% per month must be deducted from the proceeds of such extension of loan which will be receipted as an other income; 5. Life insurance coverage is assumed to be covered since they use to have excesses from their regular salary loans; 6. Amount intended for the Documentary Stamp Tax of P1.00 for every P200.00 would still be deducted and be treated as sundry credits; 7. Subsidiary ledger will be edited in term of amount of loan and term; but General Ledger must be adjusted through an entry as far as the interest and principal. END