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CHAMPIONS PCF FOUNDATION. CHARTER. November 2010. TRUSTEES. OBJECTIVES. To empower committed members and their spouses of the PCF Set up Businesses to create opportunities that can be directly or indirectly enjoyed by members and their spouses

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Champions pcf foundation

CHAMPIONS PCF FOUNDATION

CHARTER

November 2010



Objectives
OBJECTIVES

  • To empower committed members and their spouses of the PCF

  • Set up Businesses to create opportunities that can be directly or indirectly enjoyed by members and their spouses

  • To create a means of financing the Gospel


Policy thrust
POLICY THRUST

  • Treat all applications on their merits and in full compliance with the Charter

  • “If you don’t understand the industry, its value creation process and the risks involved: do not lend.”

  • The lending limit is the single obligor limit prescribed by the Trustees. It is any amount less than or equal to One Hundred Thousand Naira (N100,000.00).


Sources of fund
SOURCES OF FUND

  • Sources of fund for the foundation would include:

  • Voluntary contributions from members,

  • Direct investment by the Foundation via special projects


Risk assessment
RISK ASSESSMENT

Risk underwriting is the process by which the various risks faced by the foundation, which are not limited to those relating to the member’s creditworthiness, are assessed and a decision taken on whether to provide the requested loan facility.

In considering a new loan proposal the risk assessment process can be viewed as consisting of two elements – applicant assessment (credit risk) and vision assessment (exercise of faith).

Credit risk has to do simply with the ability of the customer to meet the agreed-upon repayment obligations. The assessment of the applicant will be limited to business analysis.  The areas that need to be considered must include:

Macro Environment

Industry

Business and Product

The vision assessment will seek to determine the level of commitment of the member to the vision of the ministry. This will include:

Commitment to a cell

Consistent tithe records

Foundation school attendance

Evidence of partnership with the ministry


Pricing tenor
PRICING & TENOR

  • The loans will be interest-free

  • Maximum of 6 months grace period will be given

  • Repayment will start after grace period

  • Maximum tenor of loan will be one year

  • Loan shall be a percentage of beneficiary’s six month’s contribution of monthly dues.

  • the maximum amount to be given shall be N100,000 subject to fund availability


Documentation
DOCUMENTATION

  • Every applicant must submit a written application letter through his cell leader

  • Every application must be authorised by a cell leader before submission to the PCF Leader

  • The PCF Leader must recommend an application to the Trustees before evaluation and approval or rejection


Approval criteria
APPROVAL CRITERIA

  • Viability of business case

  • Risk assessment rating

  • Fund requirement

  • 100% Consensus approval of Trustees

  • The rating scale shall be from 1-5 while 25% weight assigned to each criterion


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