New TODA Loan Taps Wider Market

To improve further its marketability and tap greater market, TODA Loan got thorough product modification. Almost two years after it was first launched in 2010, it was re-launched on July 2, 2012. With its new features, which include wider range of potential market and greater loanable amount, the possibility of the facility to become one of FICOBank’s winning products now gets better chances, as it is adapted to the needs and preferences of its target set of market.

Formerly called Tricycle Operators and Drivers Assistance Loan, TODA Loan is now called the Transport Operators and Drivers Assistance Loan. As such, it can now address the financial needs not only of the tricycle drivers and operators but also the owners/operators of solo motorcycles, multicabs and public utility vehicles, such as buses, jeepneys and UV Express. The new features of the loan product include an increase in loanable amount, from the usual P10,000.00 to P100,000.00, depending on the kind and condition of the chattel to be collateralized, but still at a very low rate of 2.5% per month.

With the new TODA Loan, transport operators and drivers need not worry anymore about their immediate cash requirements. Through this facility, they can now avail of the cash they need for productive and/or providential purposes. It’s guaranteed fast, easy, affordable and hassle-free.