CHAMPIONS PCF FOUNDATION CHARTER November 2010

TRUSTEES S/NNAMEPOSITION 1.Dec. Dennis EbbahPCF Leader 2.Bro. Emmanuel OjakovoAsst. PCF Leader 3.Bro. Clement YakubuPCF Sec. Gen. 4.Bro. Victor AmanambuAsst. PCF Sec. Gen. 5.Bro. Chris AtoleCell Leader 6.Bro. John AtuboCell Leader 7.Bro. Joseph IzienduAsst. Cell Leader

OBJECTIVES  To empower committed members of the PCF  Set up Businesses to create opportunities that can be directly or indirectly enjoyed by members  To create a means of financing the Gospel

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 for the foundation would include:  Voluntary contributions from members,  Direct investment by the Foundation via special projects

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  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 weekly dues.  the maximum amount to be given shall be N100,000 subject to fund availability

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