The Agriculture Credit Support Project aims to increase investments, create new job opportunities, and improve agricultural productivity in rural areas.
Eligible Borrowers
- • Direct Borrowers/Retail:
- ◦ SFF Groups
- ◦ SMEs
- ◦ LAEs
- • Conduits/Wholesale:
- ◦ SFF Groups
- ◦ SMEs
- ◦ LAEs
- ◦ PFIs
Loan Purpose
- • Agricultural Production Loans (APL)
- • Working Capital Loans (WCL)
- • Fixed Asset Loans (FAL)
- • Relending/Rediscounting
Loanable Amount
- • Generally, up to 80% of total project cost, subject to LBP Lending Guidelines
Interest Rate
- • STL, MTL & TL
- ◦ Based on prevailing LANDBANK rate at the time of availment
Collateral Requirements / Credit Enhancers
Any or a combination of the following (depending on the facility and client type):
- • Deed of Assignment of Produce
- • Deed of Assignment of Insurance/Guarantee Coverage
- • Comprehensive Surety Agreement (CSA) or joint and Several Signatures (JSS)
- • Deed of Assignment of sub -Promissory Notes (PNs) and Underlying Collaterals
- • Continuing Assignment of Receivables
- • Deed of Assignment of Proceeds of Marketing Contracts, Purchase Order or Similar • Instruments
- • Chattel Mortgage (CM)
- • Real Estate Mortgage
- • Hold-out on Deposits
- • Other Acceptable Assets
Documentary Requirements
- • For Single Proprietor/Partnerships:
- 1. Certificate of Registration with DTI
- 2. Bio-Data of Borrowers/ Proprietors/ Partners
- 3. Mayor's Permit
- 4. Income Tax Return (last 3 years, if applicable)
- 5. Audited Financial Statement (last 3 years)
- 6. Latest Interim Financial Statement
- 7. Statement of Assets and Liabilities who will sign as JSS (notarized)
- 8. Brief history of operations
- 9. Fully accomplished Basic Business Information
- • Micro and Small Enterprise
- 1. Certificate of Registration with CDA/SEC/ DOLE-BRW
- 2. CDA Certificate of Compliance (COC)
- 3. Articles of Cooperation/Incorporation and By-laws
- 4. Updated Business Permit
- 5. Certification on No. of Members (regular and associate members);
- 6. Certified list of BODs and Key Officers, with their Bio-data and TIN
- 7. Profile/Background
- 8. Lending policy, if applicable
- 9. Copy of marketing contract between the coop and market provider
- 10. Three-years BIR-filed Audited FS and latest interim FS for the current year
- 11. Notarized Secretary’s Certificate indicating the General Assembly approval and grant of authority to the Coop to negotiate/ borrow the requested amount of loan and assign the corresponding
