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PIA Press Release

Bank extends loan for call center trainees

Pangasinan (12 September) -- A 'Study Now, Pay Later Plan' for interested persons aspiring to become call center agents is now available in Pangasinan.

Believed to be the first of its kind in the country, the program was reached out between the FarmOut Central Intouch and Training Center and the Mangaldan Rural Bank Inc. through a memorandum of agreement they signed recently.

FarmOut, which operates the first call center in Dagupan and Pangasinan, already branched out to call center training to give opportunities to all graduates in Pangasinan to acquire the necessary communication skills to become call center agents.

Jane Chua, acting president of FarmOut, said the program is a bridge financing plan for students who did not qualify for the PGMA TESDA Scholarships in order to enable them to enroll for 100-hour call center training under FarmOut.

Chua said the training include an optional additional 50 hours of practicum that will give students actual call center experience.

The training under FarmOut is patterned after the Technical Education Skills Development Authority (TESDA)-designed curriculum.

Under the MOA signed between Ms. Chua and Connie Jimenez, manager for extension services of the Mangaldan Rural Bank, the latter will provide the enrolment fees for the students who will pay this back after 120 days or after they shall have been employed as cal center agents.

It is a loan to be given to students just in case they cannot come out with their tuition fees, Ms. Chua explained.

Stressing that financing is one of the key concerns of students, Chua said FarmOut tied up with the Rural Bank of Mangaldan in order to close the gap and let more people avail of the education.

Under the MOA, the rural bank gives out as a start P5,000 loan to each student that will mature after 120 days' with 60 days grace period.

The loan, Ms. Jimenez said, requires either clean or chattel mortgage, explaining that in clean mortgage, the interest is higher at 20 percent per annum and requires a service charge of five percent on the principal.

In chattel mortgage for other types of loans other than for students, the bank, she said, may receive collaterals like tricycle, motorcycles and others. (PIA-Pangasinan) [top]

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